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By Sean A. Kelly

If you are looking to reduce your monthly mortgage payments, you can consider refinancing your home loan to a lower interest rate or from an adjustable-rate into a fixed rate loan by learning more about Bank of America refinance programs. Bank of America offers good refinancing programs to suit your needs. Furthermore, the bank also has good rates and excellent customer service. The bank takes good care of its returning clients so if you are searching for a mortgage or a refinancing scheme, you may do well to sign up with this bank.

So, how do you know if you qualify for refinancing? Well, you can refinance your mortgage if you have already built up at least 10% of the equity of your home. After all, refinancing means you are cashing out on the equity of your home. That’s why you need to have at least 10% of equity before you can refinance your mortgage. Also, most banks will look at your home equity before considering your application for refinancing. This is because the lender wants to use your home equity as collateral for the loan. You will also need to be current on your home loan payments and not defaulting in the payments.

Next, you can learn what is Bank of America Refinance program and how many programs the bank offers. So, even if you do not have enough equity in your home and have been current on your mortgage payments for at least 12 months, you may still be eligible for refinancing under the bank’s Home Affordable Refinance program. This program is part of the federal government’s Making Home Affordable program and it was developed to help those who can’t qualify for a traditional refinance. The program will be able to help reduce the monthly mortgage payments for borrowers. However, you are only eligible under this program if your loan is owned by Fannie Mae (Federal National Mortgage Association) or Freddie Mac (Federal Home Loan Mortgage Corporation). Other than this, your first mortgage has to be 105% or less of your home value, your home is a single-family home unit and you have not been more than 30 days late on your monthly mortgage payments for at least 12 months.

To apply for the Home Affordable Refinance program, you can call the bank and inform it of your current financial information so that it could check on your eligibility for it. The bank may also appraise your home, pull up a credit report to verify your financial situation and then it will notify you of your eligibility within 75 days of your initial call. It will take the bank another 75 days to evaluate your application and once it makes a decision, it will send you a letter. If you have been approved, you will get a call from the bank to schedule the closing of the loan. The closing process is similar to what you experience when you apply for the first mortgage when you purchased your home. You will need to sign the closing documents and you will also be required to pay the closing costs, unless it can be financed into the loan amount.

There are also other Bank of America lender refinance programs such as interest-only refinance loans, jumbo loans, combo loans and other specialized loan programs to suit your specific financial needs and situation. With so many specialized programs including fixed-rate and adjustable rate refinancing schemes available at the bank, it is really worth your while to check it out in your search for a mortgage refinance program.

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When the world is already done with its New Year celebration, China still awaits for its gala celebration. Chinese New Year or Spring festival is the most important traditional Chinese holiday. It is also called ‘Lunar New Year’ outside China. It begins on the first day of first lunar month in the Chinese calendar. Chinese New Year is famously known as Chuxi by its native people. ‘Chu’ means Chu means ‘to remove’ or ‘to eradicate,’ while xi means ‘evening’ or ‘night,’ and therefore the term chuxi signifies a moment of the year when people hope to get rid of any bad luck from the previous year and welcome in new fortune.

Chinese New Year Day is the new moon day of the first lunar month. Chinese New Year approximately falls in the second half of January or the first half of February and contains winter solstice. Chinese New Year is a 15-day celebration and its first day is the welcoming of the gods of the heavens and earth.On the second day, Chinese pray their ancestors and gods. On second and fourth day, sons-in-laws pay respect to their parents-in-laws. Fifth day is when people stay at home and welcome ‘God of Wealth’. From sixth to tenth day is a time for festivity and merry-making. Chinese visit their families and friends, and visit temples for good fortune, health and prosperity. On 12th and 13th day lavish dinner preparations are made and served to the guests. Rice congee and mustard greens are the traditional dishes prepared at home to cleanse the system. And finally 14th and 15th days marks the preparation and celebration of Lantern Festival. Lantern festival is also known as ‘Little New Year‘. It marks the end of the series of celebrations that starts from the Chinese New Year. chinese new year calendar assigns a unique animal name every year. There are 12 different Chinese New Year animals, which are Rat, Cow, Tiger, Rabbit, Dragon, Snake, Horse, Sheep, Monkey, Chicken, Dog, Pig, in the counting system.

Chinese New Year 2012 is falling on 23th January and the special animal sign and number is assigned to it. Chinese New Year animal of the year is Tiger. The Chinese New Year 2012will not just not merely be a fifteen days festivity, but it will be a time to strengthen the bond of love and respect. Its will mean reunion, feasting, revelry and parties for Chinese people. Dinners will be organized by Chinese families and will be a great get-together to come close with family, friends and dear ones. Delicious and delectable gastronomical delights will be cooked at home like chicken, fish, cakes, so that New Year will usher in happiness, wealth and good fortune.

Besides New Year, there are other festivals also to cheer the Chinese people. Chinese Valentines Day is also called the ‘Daughter’s festival’. Its similar to the popular Valentines Day which is celebrated round the world by love birds with much fanfare on 14th February. On Chinese Valentines Day, lovers pray for their everlasting love and union, which soon turn into marriage and marital bliss. Both, those who are in love or single, go to the temple of Matchmaker. This day girls wash their hairs, and dress to their finery. Couples woo their sweethearts by splurging them with thoughtful gifts and spend time with them.

Chinese New Year is not just any other day, its importance is deeply rooted in Chinese culture and traditions. Its heralds the onset of good times, that will brighten their each day and open different avenues that will take them to the future of beautiful tomorrows.

Article Source: sooperarticles.com/spirituality-articles/astrology-articles/chinese-new-year-chinese-new-year-2012-falling-23th-january-27939.html

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Chaman Goyal is the author of “Chinese New Year”.Get complete details about Chinese calender, chinese new year ,Chinese new yea gifts, xmas-day, new year gifts, lunar new year, easter 2012, 2012 calendar, valentine day, Chinese new year eve.Author: Chaman Goyal