Stanley W asked:


as we all know,properties through out the us has been reappraised and rates are low. what will the the refinance amount be based on, the original loan or the current devalued amount.

Herman

cbr600girl asked:


I bought my house in July 2008 in San Bernardino County in California with a rate of 6.25%. I heard rates are dropping into the 4% area. How long do you need to own a home before you can refinance for a lower rate? I have an FHA loan and a neighbor told me that if I call FHA they can simply just switch the rate for me, but that definitely doesn’t sound right.

Sherry

jawsnu7 asked:


I currently have a Adjustable Rate Mortgage(ARM). I anticipate getting a large refund back for tax refunds. Can you buy down points if you are trying to get a fixed rate loan. I have gotten behind on some bills and I would like to know if It is best to pay off the bills and wait to refinance or try to buy down
points for a better fixed rate loan?

All good advice appreciated.
Eddie.

Shane

Peter C asked:


We have had a 30 year fixed mortgage for 5 years. Most of the payments made went to interest. If we refinance to a new company to a 15 year fixed rate mortgage (rates are low), would we get any sort of credit back from the first mortgage (since we’ve been paying interest payments mostly as-if we were going to have the loan for 30 years but now it’s going to be paid early? We’ve barely paid any of the principle in the past 5 years, so I’m wondering if we get any credit-back, so to speak… please advise.

Daniel

PARTYMARTY asked:


I have a chance to pay my daughters student loan off with money from a refinance we made a couple years ago. Is there any tax benefit to leave it as a student loan or any benefit at all leaving it as a student loan?

Ricardo

Raziboy asked:


And is’t a good advice to refinance with my mortgage company (CountryWide Home And Loans) or shop around other Loan companies

Betty

Prego asked:


Divorced, got a court order to refinance and pay the ex 50 percent of the equity. Bank will only finance 85 percent of the Original loan, and don’t require appraisal. Mortgage owed 104,000, bought for 111,000. Bank will refinance amount owed plus all closing but no more. Cant cash out VA loan. How do I get his supposed equity? County assessor says its worth 125,000. What do I do?

Vera

sinchec_blue asked:


During the first years of the loan, the biggest part of monthly paiments go toward the interest which is calculated for the full live (30 years) of the loan. If the loan is paid off (refinanced) after 3 years, is the interest recalculated for the 3 years only and the over paid money go toward the principal or the money paid for the interest are “lost” for the borrower?

Tiffany

chicafresa asked:


what are there duties?

Erica

V8Widowmaker asked:


I filed for Chapter 13 three years ago with a 36 month payback plan, I have almost finished the plan and had a question. I didn’t include my house, I have never been late on my mortgage. Once I am discharged from my bankruptcy I want to apply for about a $7000 loan. I don’t want to refinance my house to get the money. The loan is for a motorcycle. I have a car that I can use as collateral, it’s worth more than $7K and I have the title free and clear.

Do you think even with the fact that I have collateral that is the equivalent to the loan value I will still be charged a crazy interest rate? Any suggestions?

And in case anyone says don’t get the bike….I’m a cancer survivor and disabled veteran, I deserve the darn thing after what I’ve been through.

Dora