OT: FLU refinances (again)…..15 year conforming 2.5%

[Coronita]

Lock and loaded as of today.

Double trouble…Two refinances concurrently…

1. Primary: 2.5%: 15 year conforming no points/no cost… with impound (cancelable after 3 months).

2. Investment Property: 30 year conforming/cash out refi 4.25%: with 1 pt cost.

Lol… My new monthly for a SFH in Carmel V is…Da da da da da… $2494/month. What a joke…..

For the investment prop, it’s the best I could do, considering the loan is small, it’s an investment loan, and it’s a condo, and it’s a cash out…..Also, I can still cash flow positive it around 7%… Borrowing out of a 401k is like 4%…. So…. also….what a joke….

This is better than the credit union I can usually go to. My other refinance person I usually go to, and better than absolute or amerisave.

Hopefully, all goes well with things.

Thanks AN for the refi dude.. He really has the best rates….Really have you to thank for the references…

Ho ho ho…

Happy new year everyone!

[an]

Glad to be of help flu. I’m getting ready to lock and load for my primary as well. Maybe in a month or so. I’m currently at 3.625%. Just finished my investment at 3.75%, so I have to wait a few months before doing it again for the investment. Hopefully it’ll be in the low 3% by then.

[Coronita]

You’re so lucky you can do 3.75 on your investment. I hate you… Oh well…

[an]

I’m hoping my primary mortgage will be equal to a 2/2 condo soon. Right now, its a couple hundred more.

[an]

I’m hoping my primary mortgage will be equal to the rent of a 2/2 condo soon. Right now, its a couple hundred more.

[Coronita]

[quote=AN]I’m hoping my primary mortgage will be equal to a 2/2 condo soon. Right now, its a couple hundred more.[/quote]

I was hoping that the mortgage of my primary would be equal to the rent on two 1/1….Getting closer.

[Huckleberry]

Is your primary a non-recourse or recourse loan?

How about you investment property loan?

[an]

[quote=Huckleberry]Is your primary a non-recourse or recourse loan?

How about you investment property loan?[/quote]
Iirc, refi are all recourse, right?

[Coronita]

Come on guys. You should know by now…We live in the nanny CA state… Even if you fvck up, it’s still not your fault, and you still have rights!!!! It’s someone else’s fault…

Both are technically recourse. BUT…

1) Thanks to a law that goes into effect 2013 (Senate Bill 1069)…. primary home refinances are now considered non-recourses, provided there wasn’t a cash-out… And if there was, only the cashed-out portion above the original loan amount is considered recourse….

http://www.propertyid.com/platinum/ArticlePrint.asp?id=1335

http://www.shortsaleexpeditor.com/in-the-news/anti-deficiency-protection-for-refis-made-after-january-1-2013/

So… One can now be officially fiscally irresponsible after a primary refinance after Jan 1,2013, provided their’s no second,third, forth loan on it.

But beside that…

2) In California…there’s a One Action Rule. A creditor is only allowed to take one action on you… So provided you only have 1 loan on the property even if it is recourse, they can pick either foreclosure or something else, but not both.

http://www.teamsellssd.com/the-california-one-action-rule-avoid-a-deficiency-judgment-know-your-rights/

Morale Hazard…In CA? Nonexistent…Welcome to the party!

At any rate, no way I’m gonna default, because the bank stands to win if they FC on me…I’m not exactly financed near 100%…In fact, my LTV is ridiculously low on the primary and reasonable on the primary. Plus, although I’m not factoring it in, the investment has appreciated a bit since I bought it.

[SD Transplant]

FLU or AN,

Would you please share the name of your broker/refi guy? If you doon’t want to share it on the board, you could PM me 🙂 I’m going to refi in the next couple of weeks. Thanks in advance.

[Coronita]

[quote=SD Transplant]FLU or AN,

Would you please share the name of your broker/refi guy? If you doon’t want to share it on the board, you could PM me 🙂 I’m going to refi in the next couple of weeks. Thanks in advance.[/quote]

sent you a pm

[Ren]

[quote=flu][quote=SD Transplant]FLU or AN,

Would you please share the name of your broker/refi guy? If you doon’t want to share it on the board, you could PM me 🙂 I’m going to refi in the next couple of weeks. Thanks in advance.[/quote]

sent you a pm[/quote]

Ditto? 😀

[barnaby33]

Tritto?

Josh

[scaredyclassic]

I’m trying to close a refi at 3.375. Problems. Final hurdle seems to be a last minute demand I put a sink in downstairs bathroom. Triggered potential marital discord. Ended up going to home depot late last night and buying a sink and vanity for $49.99 and faucet for $11.58. Now I have running water but having trouble lining up the p trap for draining.

Will they check if I just leave a bucket down there?

Understanding is wife can chuck this sink at will.

[Coronita]

I’ll send you guys a PM but if you search, AN posted it here awhile ago.

Just spoke to the appraiser for the MM investment property.. Lol…Was telling me of a nice appreciation…So looks like I’m gonna end up cashing out more…..

Not bad for 9 months of doing nothing…

RE prices gonna tank??Phhh! Good luck…

[Author]

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