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Falling interest rates
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November 23, 2008, 09:21:25 AM
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Jen
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« on: January 27, 2008, 08:30:01 AM »
I think we may be able to refinance our home, shave off maybe a payment or two but lower our monthly payments by about $150 dollars.  That would be great!  We are just a few months over 15 years left on our mortgage, so a 15-year mortgage refi is what I've been looking at this morning.   We have a loan through Countrywide, and I need to find out what fees are associated with the loan before we go forward with this, but I'm guessing we'll probably end up refinancing in some way with rates so low.
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allinyc
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« Reply #1 on: January 27, 2008, 11:47:20 AM »
Good luck!  We are supposed to go to closing around the end of February, and our mortgage is through Countrywide as well.

My husband was shitting a brick a couple weeks ago because I guess they ended up going bankrupt (probably due to all the AR mortgages people couldn't pay back), however, Bank of America stepped in and bought the company.

They said on the news that if that didn't happen, people in our situation would've been screwed!!

I want to look into if we can pay bi-weekly with them. I heard from several resources that this saves like 7 years worth of payments/interest!!!
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HeatherH
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« Reply #2 on: January 29, 2008, 10:23:12 AM »
Quote from: Jen on January 27, 2008, 08:30:01 AM
I think we may be able to refinance our home, shave off maybe a payment or two but lower our monthly payments by about $150 dollars.  That would be great!  We are just a few months over 15 years left on our mortgage, so a 15-year mortgage refi is what I've been looking at this morning.   We have a loan through Countrywide, and I need to find out what fees are associated with the loan before we go forward with this, but I'm guessing we'll probably end up refinancing in some way with rates so low.

That's wonderful, Jen!     You are a good example for me of good financial management!   heart
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Jen
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« Reply #3 on: January 29, 2008, 06:06:57 PM »
I still need to follow up on this.  Apparently we're encourage to use their web-based contact center, but they only follow up via phone.  rolleyes  If that's the case just post a toll-free number and be done with it.  Anyway, I'll see what I can find out.
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Jen
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« Reply #4 on: February 03, 2008, 07:46:04 PM »
It looks like rates may come down once again, so we're going to hold off for a bit and see what happens...
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Jen - DivaTribe Owner
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