have you guys done it

rates seem low and it could save 1% 5.75 vs today's 4.65

lady asked if i was looking to cash out (nope) or shorten the term (guess so as i'd pay the same every month so the term would be shortened)

there are no points at my current lender

basically just looking for a lower rate

 

Often.

I used to think 9 3/4% was a great rate, especially after rates were up to 18% in the early 1980's.

My wife refuses to sign any more mortgage papers, so the current rates are of no use to me.

 

do it!

 

my bank just called and said they could do a modification - it would cost me $600.00 but the rate would drop to 5% - other than that nothing would change

 

I refi'ed last spring, only after having the house for 2 years, totally was worth it in my situation. went for having 2 loans (80/20) mortgage one loan was 6.26% and the 20 was 8% to having one loan @ 4.75%, I do have to pay PMI now, but even with that, im saving almost 200 dollars a month. plus eventually if the housing market ever turns around I wont have to pay the PMI once I have enough equity in the house

 

Steve, PM sent.

 

Thanks Bill!!

no matter what in the very least i;d be a fool not to do the loan mod

from 5.75 to 5 = $100.00 for the life of the loan and i'd just as that to principal which will reduce the term and if i can get another loan for less of a term for the same expense i should do that

 

mod sounds awesome too....it pays for itself in 6 months.....no brainer.

 

Congratulations, Steve!

 

Thanks but on what did the mod today

it will save me 29.9k through the life of the loan and i'll just add that extra money to the principle because i am used to paying that amount anyway