Barbara Corcoran on Refinancing Do's and Don'ts

The refinancing market is hot right now. Last week, applications were up by more than 10 percent.

But even if you can get approved by a lender--which is no easy task these days--that doesn't mean you should take whatever deal the bank offers you.

"Today Show" real estate expert Barbara Corcoran has some strong advice, particularly when it comes to avoiding extra charges at closing time.

In the video below, she explains the importance of the good faith estimate, whether it's worth using a mortgage broker and how to research potential lenders.

But the best thing you can do to protect yourself against unpleasant surprises, she says, is "bring a pushy friend with you who's going to ask the important questions that you yourself might not ask."

To which we say, Hey Barbara, want to come with us to meet our lender next Tuesday?

Also see:
Barbara Corcoran: Queen of NYC Real Estate Tells All

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