Mortgage Refinance

[elliecotter22]

So my wife and I have been living in our home for the past twenty years and have thought about getting a bad credit mortgage refinance for quite a while. You see we got ourselves locked into a fixed rate mortgage at seventeen percent a long time ago. The thing is, these days mortgage interest rates are as low as four percent so there really is a huge difference between the two.

I started researching my options for getting a mortgage loan modification and I came across this site. I filled out the short form and the next day I received a phone call from a home mortgage professional named Nancy. Nancy informed us by using a mortgage loan calculator that we had built up a large amount of equity in our home over the past two decades and getting a refinance on it would not only allow us to save quite a bit of money over the duration of our loan, but would also allow us to cash out on some of that equity for use with other debts and projects we are interested in.

Needless to say, I am very happy that I found this site. The process was really simple and we are now saving a good twenty percent per month that we had been spending on our old mortgage. Not to mention with the refinance my wife was able to redesign our kitchen finally. I really should have done this a long time ago in retrospect, but such is life. You live and you learn from it.

I highly suggest to any of you out there that are considering a refinance loan to take advantage of it while the financial markets are so amicable towards home owners. I am pretty certain you will be saving a lot of money and it will be well worth the nominal amount of effort it would take you.

[maat55]

Many of us here are always on top of that possibility. You should hang around and absorb more information on other financial matters.

Congrats on your refi.

[GREENBACK]

You see we got ourselves locked into a fixed rate mortgage at seventeen percent a long time ago. .

Did you mean seven percent? I'm not sure when rates were ever this high on a home loan or not in recent history.

[momof1in150]

Did you mean seven percent? I'm not sure when rates were ever this high on a home loan or not in recent history.

If it was a bad credit mortgage then yes it could have been 17%

[GREENBACK]

If it was a bad credit mortgage then yes it could have been 17%

If that's the case I'm not sure I wouldn't have just kept renting until my credit was better. That blows my mind.

[zetta]

a refinance on it would not only allow us to save quite a bit of money over the duration of our loan, but would also allow us to cash out on some of that equity for use with other debts and projects we are interested in.

Be careful with this -- it's this kind of thinking that may have put you in a situation where you had a 17% loan in the first place.

I would say refinance, but don't take any cash out. Save the difference between your old and new payments until you have enough to pay for your kitchen remodel in cash.

[tripods68]

This sounds like a marketing "ploy". Seventeen percent? Uhm....

[disneysteve]

This sounds like a marketing "ploy".

My thought exactly.

[sweeps]

It's probably pre-spam. "Ellie" will either come back later and update the post with a spam link, or another "random" person will come by and tell her about a great web site she should check out.

[GREENBACK]

"Ellie" will likely disappear at this point. Thanks for pointing that out.