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Paging all Homeowners again

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Posted: #1
I hope most of you are already aware of how low interest rates are currently. There are good financing deals out there for new buyers, but it would be hard to imagine that you wouldn't be buying a declining asset on it's way down.  On the other hand if you already have a mortgage, i would think that sub 5% interest rates would be worth most anyone that pays a mortgage time to take a look into re-financing.  I don't know if Lending Tree is a good place to start, if you have a bank that you like, start shopping with them.
 
I went to the same lender that i bought my home thru and they were trying to sell me a re-fi at 5.5%, so i shopped Lending Tree and they got me in touch with a company that is offering me 4.85% currently, which i'm probably gonna accept, because i can't see waiting longer or shopping more getting a better rate, and don't want to wait too long and never see these rates again.
 
So i figured i'd start a thread for anyone interested, if you find a really good deal, or if you have any tips on saving your fellow man some money when he goes to re-fi. I know this, ALOT of item lines are negotiatable on a GFE, and they differ from state to state, but the more you shop the more you save.
 
btw, i bought my house when my credit was pretty bad, it's better now, but i'm deft not of stellar credit nor do i have much equity in my house, and i am still able to get 4.85%, so if you are on the fence and have been brow beat to hell with all this "the banks aren't lending" bs, give it a try. You forgo your next months mort payment when you re-fi, and i'm saving enough @4.85 that if i wanted i could take on about a $300 a month car payment on the same budget as before
 
 
the gov't intends to soak the shit out of people that actually pay taxes in the future, so for the time being, they are helping you free up some spare change.
 
 
 
 
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Posted: #2
I was planning on Obama paying my mortgage.
 
MVP
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Posted: #3
 everyone must be waiting on Oh bama
 
Legend
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Posted: #4
I've been out the lookout and I think I could have had 4.75% and a little ticked at myself that I didn't grab it.  If I can again get 4.75% at 1 point or less then I will bite.  I'm at 5.75% currently.
 
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Posted: #5
I don't know how it works in the U.S. but I'm currently on a 5.71% 5 year fixed (August 2007).  I don't know if its standard or just a Canadian thing but to get out of a fixed mortgage you have to pay a 3 month interest penalty plus an admin fee of something like $300.  I was seriously considering going to variable prime + 0.6% when the bank of Canada announced their last rate cut.  Only to find out that the banks are keeping keeping a good chunk of the rate cut for themselves.  If the full cut had been passed through I calculated my payback to be about 14 months assuming interest rates stayed where they were.  Without them passing the full cut through though my plan is really starting to get squeezed and I don't think its worth the risk. 
 
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Posted: #6
Arent you the guy who is 4 months behind?

I dont think you will get a refi being 4 months behind, but maybe I am a bit behind the times?
 
Covers Linesmen
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Posted: #7
be easy

your prayers are answered
 
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Posted: #8
Quote Originally Posted by depeche2:

I've been out the lookout and I think I could have had 4.75% and a little ticked at myself that I didn't grab it.  If I can again get 4.75% at 1 point or less then I will bite.  I'm at 5.75% currently.

i just put a contract on a condo. countrywide, 4.5% with 1 pt.  but i have phenomenal credit and a lot in bank, only putting down 10%.  just FYI

 
Covers Linesmen
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Posted: #9
how is countrywide still in business?

wtf
 
Captain
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Posted: #10
Quote Originally Posted by KOAJ:

how is countrywide still in business?

wtf

umm..... B of A bought them  how do you not know that?

 
Covers Linesmen
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Posted: #11
Quote Originally Posted by pederson16:

umm..... B of A bought them  how do you not know that?



well aware...then you would have gotten your loan from bofa not cfc

sorry, i hate countrywide

 
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Posted: #12
well, technically no but realistically yes.
 
I am going through countrywide mortgage broker. but yes the loan is obviously backed by b of a essentially
 
Covers Linesmen
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Posted: #13
of course...i saw a countrywide office in a strip mall the other day. didnt think they were still being called Countrywide
 
MVP
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Posted: #14
Quote Originally Posted by wallstreetcappers:

Arent you the guy who is 4 months behind?

I dont think you will get a refi being 4 months behind, but maybe I am a bit behind the times?

yeah i guess sometimes things that i think are a joke are really not funny at all to other people  sorry

still don't get why it was moved to the peebox

 
MVP
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Posted: #15
Quote Originally Posted by KOAJ:

be easy

your prayers are answered

A Durban spokesman said the Illinois Senator is seeking to attach the measure to Obama's stimulus package

 

UNBELIEVABLE  what a rotten bunch of shit these assholes are, ruining our country.

 

And i'm guessing that since they are still calling some branches Countrywide(i guess for namesake) that the same crooks that worked for Countrywide will get to keep their jobs

not sure if you read it, but i posted once before that when i was buying my house, a CW MB tried to convince me to overstate the purchase price by 20% so i could put some cash in my(his) pocket criminal

 
Covers Linesmen
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Posted: #16
I am with koaj, no way I would go with Countrywide..they have terrible customer service and are real slimy jerks, there has to be better alternatives out there.


 
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Posted: #17
Well, I refinanced last year with a company in GA and they sold my mortgage to Countrywide.  So far I have gotten friendly and efficient service from them.  Oh, well...
 
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Posted: #18
I have a rep from Superior breathing down my neck, and i'm about to pull the trigger @ 4.75% now. just trying to figure out if i can negotiate any of the costs/fees. In PA i am about to pay $1300 for a Title ins. fee!! And i'm re-fi 'n a home i just bought less than a year and a half ago
 
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Posted: #19
  KOAJ - your link shutdown my computer at work
 
Covers Linesmen
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Posted: #20
Quote Originally Posted by be easy:

I have a rep from Superior breathing down my neck, and i'm about to pull the trigger @ 4.75% now. just trying to figure out if i can negotiate any of the costs/fees. In PA i am about to pay $1300 for a Title ins. fee!! And i'm re-fi 'n a home i just bought less than a year and a half ago


Call a mortgage BROKER, get out the phone book and dial a few numbers, tell them you are looking for a no-cost refi and see what is out there. Superior is a bank correct? If my memory serves me from living back there, they are a financial institution. Of course they are beating your door down, they want business.


 
 
Covers Linesmen
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Posted: #21
Quote Originally Posted by jesse07:

  KOAJ - your link shutdown my computer at work


really? its a cbs marketwatch article

use firefox
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