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Ejsf22, Other/Just Looking in San Francicso

any tips of refinancing w/the lower rates but tighter/more confusing rules?

Asked by Ejsf22, San Francicso Fri Jan 30, 2009

Seems like a great time to refinance with low rates, but with tighter lending standards it also seems more complex than ever. What are some tips and tricks you would give those considering this? Anyone out there that recently refinanced and can share experiences on how they locked in a great rate

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One of the problems with refinancing at this time can be appraisal. Due to the decline of property values, homeowners are finding that although they may be getting a better rate, they do not have the equity in the home, and may now have to pay PMI, therefore there will not be a benefit to refinancing. It is best to have an idea of your home's value so that you can have a better understanding of how refinancing will impact you.
Web Reference: http://www.VassiSaviano.com
0 votes Thank Flag Link Sat Jan 31, 2009
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