- This topic has 75 replies, 11 voices, and was last updated 14 years, 4 months ago by
sdrealtor.
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December 16, 2010 at 12:48 PM #18298December 16, 2010 at 1:03 PM #640382
Anonymous
GuestThere is a risk that you may have to sell your home for unforeseen reasons before you hit the “break-even” point (where the gain from reduced payments accumulates to cover the costs of the refi.) So there is a chance you would see a net loss on the refi.
But if you are sure you aren’t going to sell for a long time, then it’s pretty much a no-brainier.
Why don’t people do it more? Most common reason is probably laziness. Some may not have the cash to cover costs.
Agree that Sheldon is the man.
December 16, 2010 at 1:03 PM #641034Anonymous
GuestThere is a risk that you may have to sell your home for unforeseen reasons before you hit the “break-even” point (where the gain from reduced payments accumulates to cover the costs of the refi.) So there is a chance you would see a net loss on the refi.
But if you are sure you aren’t going to sell for a long time, then it’s pretty much a no-brainier.
Why don’t people do it more? Most common reason is probably laziness. Some may not have the cash to cover costs.
Agree that Sheldon is the man.
December 16, 2010 at 1:03 PM #641171Anonymous
GuestThere is a risk that you may have to sell your home for unforeseen reasons before you hit the “break-even” point (where the gain from reduced payments accumulates to cover the costs of the refi.) So there is a chance you would see a net loss on the refi.
But if you are sure you aren’t going to sell for a long time, then it’s pretty much a no-brainier.
Why don’t people do it more? Most common reason is probably laziness. Some may not have the cash to cover costs.
Agree that Sheldon is the man.
December 16, 2010 at 1:03 PM #641488Anonymous
GuestThere is a risk that you may have to sell your home for unforeseen reasons before you hit the “break-even” point (where the gain from reduced payments accumulates to cover the costs of the refi.) So there is a chance you would see a net loss on the refi.
But if you are sure you aren’t going to sell for a long time, then it’s pretty much a no-brainier.
Why don’t people do it more? Most common reason is probably laziness. Some may not have the cash to cover costs.
Agree that Sheldon is the man.
December 16, 2010 at 1:03 PM #640453Anonymous
GuestThere is a risk that you may have to sell your home for unforeseen reasons before you hit the “break-even” point (where the gain from reduced payments accumulates to cover the costs of the refi.) So there is a chance you would see a net loss on the refi.
But if you are sure you aren’t going to sell for a long time, then it’s pretty much a no-brainier.
Why don’t people do it more? Most common reason is probably laziness. Some may not have the cash to cover costs.
Agree that Sheldon is the man.
December 16, 2010 at 1:11 PM #640463Katy Perry
ParticipantMain issue is Changing from a non-recourse to a recourse loan IMO.
December 16, 2010 at 1:11 PM #641498Katy Perry
ParticipantMain issue is Changing from a non-recourse to a recourse loan IMO.
December 16, 2010 at 1:11 PM #641181Katy Perry
ParticipantMain issue is Changing from a non-recourse to a recourse loan IMO.
December 16, 2010 at 1:11 PM #640392Katy Perry
ParticipantMain issue is Changing from a non-recourse to a recourse loan IMO.
December 16, 2010 at 1:11 PM #641044Katy Perry
ParticipantMain issue is Changing from a non-recourse to a recourse loan IMO.
December 16, 2010 at 1:46 PM #640488sdrealtor
ParticipantIf you only haver one loan as this person does, the recourse issue is irrelevant. All first liens are effectively non-recourse.
December 16, 2010 at 1:46 PM #641523sdrealtor
ParticipantIf you only haver one loan as this person does, the recourse issue is irrelevant. All first liens are effectively non-recourse.
December 16, 2010 at 1:46 PM #640417sdrealtor
ParticipantIf you only haver one loan as this person does, the recourse issue is irrelevant. All first liens are effectively non-recourse.
December 16, 2010 at 1:46 PM #641206sdrealtor
ParticipantIf you only haver one loan as this person does, the recourse issue is irrelevant. All first liens are effectively non-recourse.
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