Julana65, Home Owner in Old Bridge, NJ

I live in a 3 bedroom, 1.5 bath house in South Old Bridge. We are paying 5.375% on a 30-year fixed with 25.5 years left. Is now a good time to refi?

Asked by Julana65, Old Bridge, NJ Wed Nov 7, 2012

The home needs to appraise at 258,000 for the refi to go through. The new rate would be 3.75%.

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Answers

8
Whatever you do, STAY AWAY FROM WELLS FARGO! Please read their Corporate Rap Sheet, Better Business Bureau complaints, RipOffReport complaints and Consumerist complaints first!

They scammed us and caused us to suffer a loss of more than $17,000, and their only response was a token "$500 good will offer"!

Do your homework and we're sure you'll agree with the 1000's of other victims, AVOID Hells Fargo at all costs! They are the "American Dream Killing Machine".

http://www.corp-research.org/wells-fargo
Wells Fargo Corporate Rap Sheet

http://www.complaintsboard.com/?search=wells+fargo+refinance
Wells Fargo Complaints Board

http://www.vaughns-1-pagers.com/economics/wells-fargo-lawsui…
Consumer Lawsuits against Wells Fargo

http://www.bbb.org/iowa/business-reviews/mortgage-brokers/we…
Better Business Bureau Wells Fargo Home Mortgage Complaints Summary

http://www.bbb.org/greater-san-francisco/business-reviews/ba…
Better Business Bureau Wells Fargo & Company Complaints Summary

http://www.bizjournals.com/baltimore/news/2013/09/23/wells-f…
Wells Fargo Tops for number of bank complaints

http://www.foxbusiness.com/industries/2013/10/02/wells-fargo…
Wells Fargo Sued for Non-Compliance with National Mortgage Settlement

http://consumerist.com/?s=wells+fargo
Wells Fargo - Hells Fargo: Consumerist complaints

http://www.wellsfargomortgagefraud.com/
Wells Fargo Mortgage Fraud Report

http://www.worldlawdirect.com/forum/groups/justice-4-hamp-ha…
Hold Wells Fargo Accountable - Justice for Wells Fargo HARP and HAMP Fraud Victims
0 votes Thank Flag Link Wed Jan 1, 2014
This is a great personal questions. You need to go to your local bank or call a mortgage represtative. Serveral personal question need to be answered before this decision can be paid. Such as to current credit score,. how much outstanding debt you currently owe, do you have other outstanding loans. The general rule is 2 percent less. with the current rate it is only one percent less. You might want to refinance for a 15 year loan.
0 votes Thank Flag Link Mon Dec 30, 2013
Refinancing would be a great idea now. Interest rates are at an all time low. Recently their has been a slight increase because the economy is slowly on the rise. You have to get an appraisal done to verify. It doesn't hurt to call a mortgage broker, once they take your loan application, they will give you the best answer and what steps you should take next.
0 votes Thank Flag Link Fri Jan 4, 2013
Now is a good time to refinance since interest rates are low. However,your ability to do so will be based on the appraisal, your current income and your monthly debts. It dosn't hurt to try so call a lender and apply & you should know within a few weeks.
0 votes Thank Flag Link Sat Nov 10, 2012
I would recommend you call Greg Knox with Wells Fargo to discuss this in detail -he is excellent and I trust his judgement implicitly. If you would like his contact info, send me an email and I'll be happy to provide it to you.

Best,
Jeanne Feenick
Unwavering Commitment to Service, Unsurpassed Results
0 votes Thank Flag Link Thu Nov 8, 2012
Hi my suggestion is to call First Prestige Mortgage Services the rate
today is 3.250 to 3.500.3.750 seems alittle high depending on cedit
score which is a factor There number is 973-744-8300.
0 votes Thank Flag Link Wed Nov 7, 2012
Hello Julana65. It doesn't hurt to try. You may be able to get a lower rate if you qualify (credit scores, can prove income and employment, etc.) If you can save money on a monthly basis, why not? You should consider consulting with a Mortgage Advisor who could assist you in getting the best rate, in addition to explaining the lending terms.

I hope this answered your question! If you have any further questions, please feel free to contact me by the ways below.

Wishing you all the best,


De Vonte Williamson
Licensed Real Estate Salesperson
Proudly Serving Long Island
Coldwell Banker Residential
Direct:(631)638-6193
Mobile: (631)384-3695
http://cbmoves.com/DeVonte.Williamson
http://devontesellsny.wordpress.com/
DeVonte.Williamson@cbmoves.com
"I Stand Behind Getting You Results!
0 votes Thank Flag Link Wed Nov 7, 2012
Why are you being quoted a high 3.75% interest rate? Is it a condo? you should be able to drop 2% in rate (depending on credit score, income, and equity). Do you know if you are eligible for HARP 2.0? If your loan is fnma or freddie mac prior to 5/31/09, you may not need an appraisal. Feel free to reach out to me for further questions. Best of luck!

Joseph S. Cordova
NMLS# 146855
Evesham Mortgage, LLC
22 South Maple Avenue
Marlton, NJ 08053
office: (856) 985-9944 ext. 103
direct fax: (206) 333-0946
cell: (856) 304-2381
jcordova@eveshammortgage.com
Apply online at: http://www.joecordova.com
0 votes Thank Flag Link Wed Nov 7, 2012
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