Should I Refinance? - Posted by James

Posted by KK on July 17, 2003 at 15:51:36:

You won’t lose equity unless you take money out at closing. I just refi’d my rental, in fact I close next week. The only equity I lost was the closing costs which I chose to wrap into the new mortgage…about $2K. But I increased my cash flow by $250/month.

Should I Refinance? - Posted by James

Posted by James on July 17, 2003 at 12:31:19:

Ive have a house that Im currently renting for $1200 a month. My interest rate is at 6.5%, with a balance of $114200, Im sure by now its worth $125000 or more. My question is, should I refinance, due to the fact that the rates are dropping? and will I lose the majority of my equity? and how can any of this work for me as a newbie?

James

You may be to late - Posted by James Strange

Posted by James Strange on July 17, 2003 at 19:19:30:

Rates started easing up right after the last rate cut by the FED.

http://www.bankrate.com/brm/news/mtga/20030717a1.asp