is the epitome of you commenting on things real estate, finance, investment related you absolutely know nothing about. and proven, time and time again, you’re just plain wrong, despite being an expert in real estate having made exactly 0.00000000000000000000 rental properties over the past decade+, and having refinanced over the past decade exactly 0.00000000000 times to speak from any relevant experience about mortgages (after all, you did say many times you weren’t able to qualify for a new loan many many times)…..
QED
But thanks for hijacking this mortgage thread and self-professing your “expertness” again in a subject matter that is way above your head. I appreciate you proving the point I was just trying to make. Well done.[/quote]There you go again, flu …. blah, blah, blah, assuming, assuming, assuming …. to your heart’s content … umm, except whatever crap you believe about me in your head and are regurgitating here is all false.
FWIW, I actually wrote a program for an excel spreadsheet back in about 2009 which calculated amortization for a “COFI ARM” (11th Dist FHLBB) based upon future projections. It took me about 10-12 hours and it was no small feat to get the last tweak out. If I can find it (it’s in one of my boxes of floppy disks), I’ll be glad to share. I created it to make an exhibit for direct examination on an expert witness in trial (who confirmed its accuracy both in deposition and on the stand).
I was also one of earliest adopters/users of the HP 12C, which figured various amortization scenarios out for prospective buyers and was widely used by RE professionals up thru the early nineties (when there were far more diverse mortgage programs to choose from than there are today). I became quite the “expert” at using this clunky little gem and still have it lying around in its case (likely in one of my file cabinets).
I’m also an “expert” on calculating property tax rates in the various communities I’m familiar with (inclusive of voter approved bonds, utility/RR districts, etc) but exclusive of CFDs. I don’t need to see the tax bill to do this as I know the percentages for all the additions to the “ad-valoream” portion of the bill in the various communities.
I have been in recent contact with HLS but suffice to say, I don’t owe enough on my mortgage for a refi (w/zero closing cost or not) to make sense for either me or any mortgage broker. Why would I refi when I’m in my 16th year (of a 30 yr ARM) with a current interest rate of ~3.6%? Or, I could just pay it off tomorrow if I wished to? What’s the point?
Lemme ask you, flu. If you were on the cusp of “retirement,” would YOU be refinancing and taking out purchase-money mortgages?
