Posted: 6/15/2005 11:43:08 AM EDT
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My mortgage broker called me. He would lower my percentage by .625 from my current rate. He said it would not cost me anything. No closing costs, no appraisial fees, nothing. He did my refi last year and he said he would use all the info from that. He also said he would sell the loan to another lender in 1-2 months and make his money then. He did this with the last loan. He sold it to Chase. And I have been making payments to Chase since then. So do I do this? It would save me a couple of hundred a month that I could put down toward the principle but I have been making double payments anyway. |
| You must have one hell of a big mortgage payment if .625 off your present percentage will drop your monthly a couple of hundred.hell if thats the case,by all means go for it.I haven't refinanced at all and my loan has been sold three times.Its the way they do business these days. |