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Refinance?

Yahoo Message Number: 62776
I have a 6.7 percent loan now, but with interest rates low as they have been in twenty years, thought I would investigate refinancing. I will not change it unless I can get 4.5 percent, because otherwise it is not worth it. I have excellent credit, so should take advantage of that before...... who knows?

Any suggestions?

Jack Nichols, 2003 Intrigue, 11527

Re: Refinance?

Reply #1 –
Yahoo Message Number: 62793
Jack, if you have replacement at what you paid for it, you will never get that now once they calculate the book value today.

Rich 2002 Magna

Re: Refinance?

Reply #2 –
Yahoo Message Number: 62808
Thanks, Rich, I know that. I was in the mortgage business in my mis-spent youth, so know the program. (I was so ashamed of the business I told everyone I was a piano player in a cat house so I could go out in society). At least I know the business as it was then.
I got a good deal when I bought the coach two years ago, but of course it has depreciated with the current economy - still, there may be some innovative RV lender that wants an excellent loan, and may refinance. On the other hand, I can understand any lender is reluctant to lock in a loan at less than 5% for a long time. Hopefully this economic downturn is temporary.

Just testing the waters. Thanks for the reply.

Jack Nichols, 2003 Intrigue 11527

Re: Refinance?

Reply #3 –
Yahoo Message Number: 62815

Jack,

My wife and I are doing the same thing calling around getting the latest rates available. Present we are with BOA, rate 5.75 and rate as of today is 5.45, not worth refinancing. Let us now what type of rates you get.

Joe

2006 Intrigue 12054

Re: Refinance?

Reply #4 –
Yahoo Message Number: 62817
Thanks, Joe, I will keep in touch if anything develops. I have not found enough differential to go ahead either. Send me an email with your contact info, so we can take this off the list.

Jack Nichols, 2003 Intrigue 11527 jjgnn(at)yahoo(dot)com