[quote=EconProf]…This looks to be an interesting strategy, and I’m surprised we haven’t seen much about it in the national media.[/quote]
EconProf, I think the reason these techniques are not highly publicized is that they are rare. How many property owners right now CAN be “serial refinancers.” First, their CREDIT has to be good enough to do so, they can’t have too much open consumer debt or student loans and they need an appropriate steady flowing income (W-2 preferred). Secondly, their mortgages cannot have prepayment penalties or other provisions to keep them in it for a period of time (6th mos?).
I just don’t see a current tsunami of “mainstream owners” being able to do this every few months, even if they wanted to.
