More refinance ?s

[happygirl]

I have a few questions about refinancing and my unique situation.

1) How is it possible to do a no cost/fee refinance? JimOhio mentioned this in another thread. I thought there were certain things required that you were charged for, but I've also noticed the closing fees people mention can vary greatly. I'd love to do a refinance, but at a reasonable cost.

2) My husband is out of the country and I have a general POA which states I can handle real estate transactions for him, however, I attempted to refinance some time ago and was told that although the bank approved it, the underwriter did not because the POA didn't specify that particular address. I thought that was ridiculous, but felt like I had no choice but to drop it and focus on paying down the principal instead. Does anyone know anything about this? I'd love to get a lower rate.

3) How do you PM on here? I'd like to get the info on that company you mentioned JimOhio.

I certainly appreciate any input. Thanks!

[jIM_Ohio]

PM is coming

the way a no cost refi goes is this

My guy and I agree on terms and get the loan underwritten. In my case I have a 330k loan at 4.25% closing within next week.

Once I close, my broker is going to sell my loan. For about $9600 (its on the closing documents). From that $9600 3 people get paid-

1) my escrow account gets funded and closing costs get paid (this is about $3300 or so)
2) my agent gets paid (about $3000)
3) his company also gets paid (about $3000)

that is how it works

[jpg7n16]

I have a few questions about refinancing and my unique situation.

1) How is it possible to do a no cost/fee refinance? JimOhio mentioned this in another thread. I thought there were certain things required that you were charged for, but I've also noticed the closing fees people mention can vary greatly. I'd love to do a refinance, but at a reasonable cost.

See Jim's post. I don't know how they work either

2) My husband is out of the country and I have a general POA which states I can handle real estate transactions for him, however, I attempted to refinance some time ago and was told that although the bank approved it, the underwriter did not because the POA didn't specify that particular address. I thought that was ridiculous, but felt like I had no choice but to drop it and focus on paying down the principal instead. Does anyone know anything about this? I'd love to get a lower rate.

See a lawyer about the terms of your specific POA.

3) How do you PM on here? I'd like to get the info on that company you mentioned JimOhio.

I certainly appreciate any input. Thanks!

on the top right of your screen, it should say "Private Messages: Unread X" (right above the "Quick Links")

If you click the phrase "Private Messages" - it will take you straight there.

Alternatively, you can click on your control panel. Then on the lefthand side of the screen, there is a category for Private Messages. You can click "List Messages" to see the list of all the messages you have received.

[disneysteve]

The easiest way to send someone a private message is to click on their user name on one of their posts. You'll get a drop down menu and one item on the menu is "send a private message to ....."