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While watching, one thing kept popping into my mind. What is in it for them?
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cptacek this is the exact reason in my previous post I asked how much is the interest rate and how much are they going to charge you to refinance from the current loan into the 90% one. Of course if the person doesn't like it how much are they going to charge to get back to a regular fixed rate loan. By the way if you run the numbers which I have you will not be saving huge amounts of money from the manipulation of your average daily balance in the home equity loan. Instead most of the savings will come from you supposedly not using your whole paycheck that month and the extra going to principal. Many people with that much spending power will get themselves into a lot of trouble. I know lots of people on this board will tell me they wouldn't but frankly not many people are like the ones on this board. This is why the average daily balance on credit cards in the united states is huge. Now just imagine instead of having that $5000 dollar credit card limit you had that $290,000 limit.