Posted on
September 22, 2008
at
4:49 pm
My friend has refinaced 2 times since they have bought their home. Each time making the payment smaller- but paying more each time so they will pay it off sooner.When do you think it's a good time to refinance?Do you think it's a good idea to refinance?
Posted on
July 24, 2009
at
9:07 pm
General rules of thumb.Refinance when:1. You can get at least a discount of 1.5% or more off your mortgage.2. You have a stable job.3. You can afford to refi. Some people make an extra mortgage payment a year, well instead of that take that money and pay for the refi. 4. If you know that you are going to stay in the same house for at least 3 years for every .5% you lower. Otherwise, it may be wiser to just make more of a payment or an extra payments to pay the mortgage off sooner.
Posted on
September 15, 2009
at
11:20 pm
I think debt master is saying quite right. I am totally agree with him. You need to follow his instructions. It 'll work for you.
Posted on
January 28, 2010
at
11:35 am
A resource that I've found helpful are mortgage calculators. If you input all your specific information you can see what options will work best for you. Try Allstate Financial's calculators http://www.myallstatefinancial.comThey have a ton of different mortgage related ones: http://www.myallstatefinancial.com/financial/tools-and-resources-calcs.aspxHope that helps!-Jilladvocate of Allstate
Posted on
February 6, 2010
at
9:17 am
As an owner of many rental houses.. I am always tempted to refinance when the rates hit lows.. but it would eat into my profits on a monthly level. I f you take cash out, with a refinance, your
mortgage goes up.. way up in some instances.. i think that is onverlooked by lots of folks.... as they see the pot of cash gold at the end of the refinance.. and forget about the highermonthly mortgage payment... just my 2 cents
Posted on
July 27, 2010
at
11:30 pm
no i am not agree with the refinance just to lower down your interest rates...however that costs you to pay more money and alos increases the time period to become the debt free...
Posted on
August 9, 2010
at
2:52 am
Refinance can supply you with huge amount of finance. You can say that it is a second payment you can start with. well i don't think that refinancing will be a good idea because it can brig you to pay more costs on it.
