Mortgage Time?

El and Bill

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2000
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22 Cruiser
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Sold in 2012
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Halcyon
Posted: Sun Aug 01, 2010 11:17 am    Post subject: not boat related, or is it?
so, this is not directly boat related, however if one saves money, that money could be made available for additional boating and/or boating stuff.
so, my friend Mr. Freddie Mac is going to loan me money to refinance a property. he's willing to do so for a 15 year period @ 4% fixed, simple interest. he's such a good friend he is not requiring me to show proof of income. i suppose he could order a copy of my tax return from your good friend, Mr. IRS, but i don't know that he plans to do so. simply complete an application, get a nod from your friendly banker, pay 900 + or -, and, for me, save 4880 per year in interest. i applied last monday and will be closing the latter part of this week. don't get me wrong, i'm very pleased about this deal, but somewhere down deep, isn't this what got us in trouble to begin with?
if you have an outstanding mortgage, i would strongly suggest now is the time to refi. we may never again see these rates.
best regards
pat

Fan-A-Sea
 
We have been looking at this too. Looks like it should be worth it, just have not made the jump yet. Thanks for the reminder.

Harvey
SleepyC :moon
 
As of this morning, 3.875% fixed 15yr through Alaska USA. I could drop ½ percentage point but thinking it has to go down a bit more. Last time we refinanced I think all fees added up to around 4k, the Title companies up here really have a monopoly, all they do is put the paperwork together and make the deal happen.
 
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