Near-by resistors; or component grouping will effect resistor derating. A resistors power dissipation must be further reduced if it's effected by near by components or resistors that are radiating heat which would effect the surrounding ambient temperature [of the resistor being effected].
The closing is scheduled with the refinancing company, mortgage broker, real estate attorney and the home owner. It takes approximately one week to schedule and conduct the appointment with the closing attorney. Depending upon the complexity of the loan, the refinance process can take from two weeks to eight weeks.
For borrowers who cannot refinance because of credit issues or low home equity, a loan recast could be a good option because you are not applying for a new loan. Your interest rate and your loan term will stay the same. The only difference is in your monthly payments. A loan recast, because it is not a refinance and does not require a loan application and closing costs is significantly less expensive than refinancing. Refinancing fees often cost around 2 to 3% of the loan amount.