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Thinking about re-financing my home

Posted on 1/27/09 at 6:12 pm
Posted by MIKEDATIGER
AUSTIN
Member since Oct 2007
2128 posts
Posted on 1/27/09 at 6:12 pm

Has anyone re-financed lately?

Thinking it might be a good way to lower payments.

Please let me know if you've had any good or bad experiences lately and if there's anyone company that you would recommend (online or B&M).

Thanks in advance.
Posted by LSUzach
Prairieville
Member since Nov 2007
103 posts
Posted on 1/27/09 at 8:11 pm to
Refinanced through Primerica (Citi) consolidated some debt got a lower monthly payment and cut 13 years off
Posted by LSUDad
Still on the move
Member since May 2004
58741 posts
Posted on 1/27/09 at 8:32 pm to
I talked with a girl today, she said it was in the 4's now in the 5's.
Posted by MIKEDATIGER
AUSTIN
Member since Oct 2007
2128 posts
Posted on 1/27/09 at 10:51 pm to
Thanks dad

You're in Texas right?
Posted by LSU1018
Baton Rouge
Member since Feb 2007
7220 posts
Posted on 1/28/09 at 7:26 am to
I thought about refinancing my home the other day. I was offered a 4.5 for 15 years but I didn't take it b/c it would have taken me about 3 1/2 years to make up the closing costs again and I don't plan on being there that long.
Posted by yaherrdme
The Place to Be
Member since Feb 2004
5444 posts
Posted on 1/28/09 at 10:28 am to
quote:

Refinanced through Primerica (Citi) consolidated some debt got a lower monthly payment and cut 13 years off


So you added to your principle (by "consolidating") and you cut off 13 years.... You do realize that is mathematically impossible unless all your "consolidated" items were a payroll/check cashing institutions, even then probably actually impossible.
Posted by Drop4Loss
Birds Eye Of Deaf Valley
Member since Oct 2007
3860 posts
Posted on 1/28/09 at 1:16 pm to
Maybe his previous rate was 8 - 12 %..........

Numbers would work
This post was edited on 1/28/09 at 1:17 pm
Posted by LSUzach
Prairieville
Member since Nov 2007
103 posts
Posted on 1/28/09 at 7:42 pm to
if you know what a simple interest loan is you would know how it is possible. you should check into it really is a great thing
Posted by MIKEDATIGER
AUSTIN
Member since Oct 2007
2128 posts
Posted on 1/29/09 at 9:58 am to
Stop all the bickering and help a brother out...
Posted by cbtullis
Atlanta
Member since Apr 2004
6257 posts
Posted on 1/29/09 at 4:45 pm to
My wife is a mortgage broker. We just refinanced our home and saved a point and half on interest. It just depends what your rate is. She can help out, just let me know.
Posted by MIKEDATIGER
AUSTIN
Member since Oct 2007
2128 posts
Posted on 1/29/09 at 10:17 pm to
Hey there

Thanks for the offer. I have Nate helping me out right now but if I need any further help, I will definitely take you up on offer.
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