Local, traditional mortgage lenders, like Beattie's clientele and other institutions, are happy for the Fed's intervention, announced Tuesday, but Beattie said he was unaware of any subprime mortgage lending by Nebraska banks. ... Another important benefit of refinance mortgage loans is that gives the borrower more flexibility. It allows you to change terms from a long one to something shorter. In this way, you can pay off the principal more quickly, thus saving you from the total interest charges.
