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Mortgage Refinance Closing Costs

Mortgage Refinance Closing Costs – Knowing the mortgage refinance closing costs is one of the most important factors to consider when determining whether to refinance your home loan. While mortgage interest rates are dropping and home loan refinancing can save home owners money, this mortgage refinancing is not free.

Do you remember the closing costs that you had to pay when you initially purchased your home? These same mortgage closing costs are charged for refinancing a home mortgage.

The typical mortgage refinance closing costs include mortgage application fees, settlement costs, potentially interest rate discount points, and home appraisal fees. The interest rate discount points allow home mortgage borrowers to get lower home mortgage interest rates. The cost for this lower home mortgage interest rates is an up front charge called paying points.

Paying for a zero point home mortgage will lower your up front mortgage refinance closing costs. However, this zero point home mortgage will come with a higher mortgage interest rate.

Another mortgage closing cost could include prepayment penalties for paying off your original home loan. However, most States prohibit mortgage loan companies from charging prepayment penalties for paying off home mortgages early.

Hopefully this article answered your mortgage refinance closing costs questions. If you would like to find more information about home mortgages and personal finance, check out online banks blog.

Teva Buys German Drug Maker for $5 Billion

BUSINESS STRATEGY – Teva Pharmaceutical Industries, the global leader in generic drugs, said Thursday that it had reached a deal to acquire the German generic drug maker Ratiopharm, ending a nine-month battle that had pitted it against at least two other bidders, one of them thought to be the brand-name drug giant Pfizer.

Teva will pay about 3.6 billion euros — or nearly $5 billion — and expects to complete the transaction by the end of the year.

The deal will catapult Teva from fifth place among German generic players to the No. 2 spot.

Teva Buys German Drug Maker for $5 Billion, myhusbandstolemyblog.comRatiopharm is a privately held company based in Ulm and it did not make the names of the bidders public. But, in winning Ratiopharm, analysts said, Teva topped the world’s biggest maker of brand-name drugs, Pfizer, and Actavis, a generic maker based in Iceland.

“This transaction is perfectly aligned with our long-term strategy in which Europe is an important pillar and growth driver,” the chief executive of Teva, Shlomo Yanai, said in a statement. “Ratiopharm will provide us with the ideal platform to strengthen our leadership position in key European markets, most notably in Germany, as well as rapidly growing generic markets such as Spain, Italy and France.”

The combined company would have had 2009 revenues of $16.2 billion, the statement said.

Ratiopharm is an attractive target because Germany is the second largest generic market in the world, and Ratiopharm is the second biggest generics purveyor there. Germans spent about $7.9 billion on generics in 2009, according to IMS Health, a health information company.. Read more »

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