| Refinanced last year, but.... |
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retired2pa
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Joined: 14 Feb 2010
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| Refinanced last year, but.... |
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My husband and I refinanced last June. Our original loan was with our bank and they immediately sold it to Chase. For 2 years we had nothing but problems with Chase regarding our escrow account. When we decided to refinance, we talked to our bank and they said they could do it but it would be at a higher rate than our original loan (5.25%) if we wanted to keep it in-house and not have them sell it to Chase again. We decided not to refinance with them and went to another bank that was recommended to us. They refinanced it for 6% (a little higher than the original loan but still lower than what our bank wanted). At least we're not dealing with Chase and not paying PMI.
My question is: can you refinance again since the rates are even lower now or would that be a waste of money? We've only had the house for 3 years. Are there any good "deals" online to refinance? Our credit score is 784.
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Fri Apr 30, 2010 5:01 pm |
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coaster
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Location: Wisconsin
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You can refinance as often and whenever you want, providing you qualify for the loan. As to whether it's a waste of money, you have to run the numbers for your particular case.
~Tim~
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Fri Apr 30, 2010 8:41 pm |
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iwillguide
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| hi |
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you have qualify first to use loan amount
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Wed May 12, 2010 3:02 pm |
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clarissa_vargas
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Location: Long Beach
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I'd say you go to a person that has experience in the field and can help you.
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Wed May 12, 2010 6:10 pm |
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pwsolutions
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Location: Dallas, TX
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i will not suggest you to go for refinancing.. because the rate will go high and you will have to make the payment for longer time.
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Wed Jun 16, 2010 3:20 pm |
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pwscs
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Location: united states
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quote:
Originally posted by pwsolutions
i will not suggest you to go for refinancing.. because the rate will go high and you will have to make the payment for longer time.
no. refinancing refers to the reduction of interest rates.
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Wed Jul 07, 2010 10:57 am |
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pwsolutions
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Cash: $ 6.80
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Joined: 10 May 2010
Location: Dallas, TX
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i spoke to Debt Consolidation firm and they are referring me to refinancing. will it hurt my credit score?
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Thu Jul 15, 2010 1:06 pm |
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