i am wanting to see about advice on refinancing my mortgage.
Current scenario- loan balance 145000 at 5%, however wanting to sell my house asap but not currently on the market.
the problem with selling is that after i bought my house in a under construction neighborhood the original owner of the neighborhood sold about 30 avail lots to a builder who was building new construction homes in the 120s when the original 10 or so was upper 150s so im worried my house decrease in value/may not sell at what i would ask quickly.
so my question is should i refi and save anywhere (if my calculations are correct) 150-175 per month for the next 1 to 1.5 years or ride out my current mortgage until i am able to sell?
also i am worried also that if i refi and my house does sell quicker than expected will my credit take a negative effect and prevent the 2nd loan?