Refinancing Home Mortgage
We just purchased our home last month for 177,900. We carry a mortgage of 132,900 for 30 years at 6.6. I now see ads for 5.5% with little or no closing costs. Would it be better to refi or would making extra or additional payments work it out in the long run?
In: Mortgage Lenders
4 Jun 2010I have been hit with the mortgage problems like the other 20million people in the past year and to the advice of my attourney, I should be filing chapter 7 bankruptcy in 5-6 months.
My question is this:
I have a SUV that I bought a few years ago ($42,000) and i owe $29,000 on it. It [...]
In: Mortgage Loan
30 May 20102 months deferred mortgage payments
4.0% rate, fully amortized, fixed, for 5 years
5.0% rate after the first 5 years, for the remainder of the loan
40 year term
no prepayment penalty
my current loan is FHA 6.5% 30 year fixed
I currently have a mortgage that recently went from a fixed rate (for the first five years of the loan) to a variable rate (to be assessed annually for the rest of the 30 year mortgage). The loan goes variable for the first time this month. Original interest rate = 4.375%. New [...]
I bought my house about 2.5 years ago and am wondering if I should refinance now to lock in today’s low rates or just wait it out. The house is worth about 850K. My first mortgage is a 600K 7 year ARM at 5.85% (4.5 years left). My second mortgage is about [...]
In: Mortgage Rate
28 May 2010I just use my home equity line of credit 2.5% to pay off my mortgage. Should I refinance to fix rate? I am afraid the rate will go up.
In: Mortgage Rate
26 May 2010My current rate is 6% for 15 years. I want to re-fi at 5 % for 10 Years (4,500 in closing fees), but I have been paying on this current mortgage for 9 years, so currently I am past paying all interest. So does it make sense to re-fi and start all over [...]
In: Mortgage Lenders
26 May 2010Let’s be perfectly clear on this. I see and hear a lot of people blaming “mortgage crooks” and “greedy lenders” and “greedy borrowers buying homes they couldn’t afford.” Well, there are some horror stories like low-doc and no-doc – – – but almost all the mortgages were on the up and [...]
I have an interest-only ARM that I am currently paying 3.875% on, and indexes in August 2010.
On 8/2010, I need to pay principal and interest payments of 1 year LIBOR + 2.25%.
At the current time, LIBOR is at 1.5%, so that would be 3.75% – a really good rate. Of course, LIBOR can go [...]
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