U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate > Mortgages
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 01-23-2012, 12:46 PM
 
1 posts, read 1,293 times
Reputation: 10

Advertisements

Hi all!

I bought a home last year but I need to refinance.... Could you tell me some of the pros and cons?

Thanks!

Jeff

Last edited by Green Irish Eyes; 01-23-2012 at 05:03 PM..
Reply With Quote Quick reply to this message

 
Old 01-24-2012, 07:10 AM
 
3,032 posts, read 4,053,588 times
Reputation: 1889
Quote:
Originally Posted by jeffwayne View Post
Hi all!

I bought a home last year but I need to refinance.... Could you tell me some of the pros and cons?

Thanks!

Jeff

pros: lower rate & possible PMI elimination -> lower interest amount paid -> savings

Cons: closing costs, "headache" of providing lots of information to bank (if that's really a con), sometimes reseting of the time on the loan. (ie. 29 yrs -> 30 yrs)
Reply With Quote Quick reply to this message
Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate > Mortgages
Similar Threads

All times are GMT -6.

2005-2017, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32 - Top