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Refi Update

January 16th, 2009 at 05:47 pm

I posted previously we had applied for a refinance based on getting a rate of 4.875%. We finally closed escrow four days after the lock-in period expired due to a delay by our HOA in getting a report to the lender. And this for a loan that was supposed to be "fast-track" or low paperwork. However, Countrywide honored the lock-in and we were able to close with the loan amount covering all closing costs. We even received a "proceeds" check yesterday for $271.09. The best part is that our payment has gone down $225.82 a month. BTW, the thing that got the ball rolling on our refi was a

Text is post and Link is http://monkeymama.savingadvice.com/2008/12/10/how-about-4875_45998/
post by monkeymama, proof of how participating in SA can help our financial well-being.

4 Responses to “Refi Update”

  1. monkeymama Says:
    1232130927

    Woohoo!

  2. Ima saver Says:
    1232135918

    That is wonderful!

  3. asmom Says:
    1232147160

    Excellent! May I ask: how much was your rate before?

  4. Analise Says:
    1232152955

    asmom - Our old rate was 6.25% on a $200,000 loan. We refinanced a new loan but only for $190,000.

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