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Posted: 2/15/2007 4:54:49 PM EST
[Last Edit: 2/15/2007 4:56:49 PM EST by ursus]
I have my mortgage through Bank of America. Well, I just saw that they are going to offer bank accounts to individuals and they won't need a SS# to do it. Screw that! Another US based company that refuses to acknowledge the problem of illegal aliens.
Can anyone offer any good refinance co's Thanks
Link Posted: 2/16/2007 4:15:16 PM EST
Link Posted: 2/21/2007 4:15:38 PM EST
Read the fine print in your mortgage, just because it's a low interest rate doesn't mean it's right for #1... you.
Link Posted: 2/22/2007 12:38:42 PM EST
Get a Primerica rep to read the fine print for you and explain how the low interest rate isn't right for you.
Link Posted: 2/22/2007 6:11:17 PM EST
Quit bashing Citigroup/Citi Mortgage/Citi Trust Bank. All I do is collect documents and let the people who know their shit read them. A$$hole.
Link Posted: 2/22/2007 6:52:22 PM EST
Link Posted: 2/23/2007 2:29:30 PM EST
[Last Edit: 2/23/2007 2:29:56 PM EST by kansaskid]
No.

Sorry for hijacking your thread ursus, if you want a good refinance company, I will go ahead and say it. Any of the "Citi" companies. They can give you a free look.
Link Posted: 2/23/2007 4:31:48 PM EST
No offense taken sir. I appreciate your input.
Link Posted: 2/24/2007 6:27:36 AM EST
unless you get a no cost refinance, it'll cost you you a couple thousand minimum to refinance. Not worth it, even more so not worth it if you have to acept a higher interest rate. Even more not worth if it you set the pay off period back to 30 years again.
Link Posted: 2/27/2007 6:32:20 PM EST

Originally Posted By AssaultRifler:
unless you get a no cost refinance, it'll cost you you a couple thousand minimum to refinance. Not worth it, even more so not worth it if you have to acept a higher interest rate. Even more not worth if it you set the pay off period back to 30 years again.


Sorry but the only part I agree with you here is the part about extending it out to 30 yrs. What if somebody has a ARM and their payments have increased 600 dollars a month? Still not a good idea to refinance?
Link Posted: 2/28/2007 2:44:22 AM EST

Originally Posted By kansaskid:

Originally Posted By AssaultRifler:
unless you get a no cost refinance, it'll cost you you a couple thousand minimum to refinance. Not worth it, even more so not worth it if you have to acept a higher interest rate. Even more not worth if it you set the pay off period back to 30 years again.


Sorry but the only part I agree with you here is the part about extending it out to 30 yrs. What if somebody has a ARM and their payments have increased 600 dollars a month? Still not a good idea to refinance?


A lower fixed interest rate is the most important thing, the length of the loan is secondary. Best option is to get a fixed rate 15 year loan if you can swing it, second is a fixed rate 30 year loan, but pay it off at a 10, 15 or whatever rate, e.g. plop extra principal at it each month. Dont put down extra principal until you maxed out your 401K and Roth contributions each year. I actually have a 30 year fixed but paying extra principal so it'll be paid off in 12 or so years total


What doesn;'t make sense is to get a 30 year fixed loan , pay the minimum each month for 10-12 years and refinance and get a new 30 year loan and pay the minimum each month on that, you've basically just gave yourself a 42 year mortgage! That was the point I was trying to make
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