Do an online search for refinancing rates on the internet and you will notice multiple ads showing ultra low mortgage rates and low payment options, that almost sound too good to be true.  The problem with many of these low ball quote advertisements is that the fine print will either exclude the average home loan borrower or reflect a teaser type refinance program aimed at luring in customers with low initial rates that jump up rather quickly and significantly, leaving many homeowners in a distressed payment situation.

When searching for home mortgage refinancing loan programs, you want to make sure the fine print is spelled out in bold, before you commit with that lender.  Better yet, spell out you own preferences and goals for your refinance before you begin to shop and make sure your quote reflects the exact program you have written down.