by The Ardvaark
Question by cancerman: Anyone with advice on how to refinance a home loan?
Our two year mortgage is going to expire and is going to increase with percentage ratee, which could kills us as we are already house poor. We’re also trying to sell our home right now so how would a refinance work with this.
Answer by Fatty
you cannot refi if your house is currently listed on the MLS. Alot of lenders wont even let you refi within a year of it. I do have some relationships that will let me perform a refi 1 day off the MLS. But if you are looking to refi for spare cash while you are waiting to sell… I wouldnt recommend it. It is going to cost you about 10K of your equity, ride it out and get that thing sold.
Know better? Leave your own answer in the comments!
fatty is correct!
good job fatty…!
also just a note—-when you do get ready to refi…stay away from the internet sharks!
Fatty is absolutely correct. You are better off selling as quick as you can.