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jon e
Guest
0.10 Dollars($)
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Post subject: cost of refinanceing |
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| I have just been quoted $4,500 for re financeing, just this sound excessive? |
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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 7405
Location: bloomfield, ct
62.63 Dollars($)
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Post subject: |
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without knowing any of the other details of your loan request, it is impossible to tell you if $4500 is high, low or just right. in general, closing costs are partially driven by the amount of the loan. if you are borrowing $100000, then i'd have to say the quote is high. if you're borrowing $300000, then it's probably low.
_________________
George M. Akerley
Loan Consultant
860-221-5044 |
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wewe
Guest
0.10 Dollars($)
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Post subject: refinancing |
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| how soon after buying a house can you refinance? |
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sara
Moderator
Joined: 05 Jul 2006
Posts: 1679
Location: New Brunswick, New Jersey
315.05 Dollars($)
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Hi wewe,
You will have to wait for at least a year in order to refinance the property. While you refinance, you will have to pay the closing costs as well as other related costs once again. Moreover, you will also have to go for an appraisal of the property before refinancing.
Take Care. |
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Booger
Guest
0.10 Dollars($)
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Post subject: streamline fha loan |
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| I am trying to refinance my house through the streamline program and I am going 4 days into the next month. Is it true that I have to pay a whole months worth of interset. I know I have to pay off the previous months interest. |
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adonis
Joined: 22 Oct 2005
Posts: 3852
Location: ALASKA
120.89 Dollars($)
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As far as I know, you will have to pay the whole month's interest. But in my opinion, you should consult your lender in this regard. He will be the best person to tell you what you need to do.
_________________
Procrastination is the enemy of your financial sucess |
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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 7405
Location: bloomfield, ct
62.63 Dollars($)
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Post subject: |
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yes, fha loans require interest in advance.
_________________
George M. Akerley
Loan Consultant
860-221-5044 |
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carol
Guest
0.10 Dollars($)
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Post subject: husbands name off home loan and title |
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| recently divorced and in divorce decree i was awarded all title intrest and equity in and to the homestead what do i do to remove his name he has skipped out of state |
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adonis
Joined: 22 Oct 2005
Posts: 3852
Location: ALASKA
120.89 Dollars($)
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Post subject: |
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Hey carol,
In order to remove your husband's name from the title, you will have to ask him to sign a quitclaim deed in your name. You can contact him and ask him to sign the deed in your favor.
_________________
Procrastination is the enemy of your financial sucess |
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eehale@charter.net
Guest
0.10 Dollars($)
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Post subject: HOME FORECLOSURE |
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| I AM 55 YRS OLD. LIVE IN COLORADO. AM ON DISABILITY. AM 2 MONTHS BEHIND IN HOUSE PAYMENTS. IS THERE ANY HOPE FOR ME? |
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smithsussane
Joined: 18 Sep 2008
Posts: 3709
Location: Alaska
556.69 Dollars($)
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Hi eehale!
Welcome to forums!
As you are two months behind on your monthly payments, I would suggest you to contact your lender immediately and inform him about your hardship. If you want to save the property, you can negotiate with the lender for a loan modification. In this process, the lender will give you a new payment plan to pay off the dues.
If you do not want to save the property, then you can go for a short sale or a deed in lieu.
Feel free to ask if you have further queries.
Sussane |
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Jeff55
Guest
0.10 Dollars($)
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Post subject: Property tax reserves on refinance loan |
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| I am refinancing. My loan broker told me that the lender is required by the state of Virgina to keep a reserve equal to my annual property tax payment and has added the value of the reserve to the cost of my loan. This was not a cost included in my good faith estimate. Is this legitimate? |
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Niicss
Joined: 03 Oct 2005
Posts: 2617
Location: New Jersey
409.01 Dollars($)
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Post subject: |
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Hi Jeff
As far as I know, in Virginia, lenders can ask the borrowers to pay the property taxes for 3 months at time of settlement. This amount will be deposited in the escrow account. But I don't think you should be required to pay a reserve equal to your annual property tax payment.
Thanks.
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Good is the Enemy of Great. |
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jamie
Guest
0.10 Dollars($)
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Post subject: refi interest rates |
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| Do you expect rates to remain volatile or remain status quo?? I am nervous about locking and do not want to miss the best rate! |
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adonis
Joined: 22 Oct 2005
Posts: 3852
Location: ALASKA
120.89 Dollars($)
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Post subject: |
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In my opinion, the rates may vary on a day to day basis. But as rates are going quite low these days, it would better if you could lock the rates as soon as possible.
_________________
Procrastination is the enemy of your financial sucess |
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