Mortgage refinancing, what you need to know
* Yield spread premiums. This is a well disguised piece of financial jargon for a kickback to the broker for convincing you to accept a much higher interest rate than you are entitled to. A legitimate loan will never have a yield spread premium on any account. If you see one on a home mortgage you are offered, not only does it mean the mortgage is bad, it also means you could get a much better interest rate elsewhere. * Prepayment penalties.