Question by onebyone: what law says a mortgage must be 6 months old before refinancing?
I was told that a mortgage must be 6 months old before you can refinance it. Is it true? What law (or statute or regulation…) actually specifies that?
This is in NY state, if that matters. Thanks!!
Answer by Worldly25
Not sure but fiscally it does not make sense to refinance unless your new mortgage is 2% less then your current one.
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