|
| Posted By |
Message |
raken40
soooo in love:)
Member since 5/05 4369 total posts
Name:
Karen
|
mortgage question
We are going to be taking out a 1st and 2nd mtg to avoid paying PMI. Lets say next year the interest rates miraculously drop..Can i refinance both? is there a penalty?
|
Posted 6/12/05 6:25 AM  |
| |
|
Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
|
|
Re: mortgage question
Hmm, good question. We did the same thing. I know the rate on our second morgage isn't fixed but it is less than our main mortgage.
I am sure you can refi the main mortgage, and that would benefit you regardless since it's the larger amount.
|
| Posted 6/12/05 8:31 AM |
| |
|
steph4777
**************
Member since 5/05 11726 total posts
Name:
Stephanie
|
Re: mortgage question
it depends if there is a prepayment penalty on the mortgage.
|
| Posted 6/12/05 11:31 AM |
| |
|
Potentially Related Topics:
Currently 562450 users on the LIFamilies.com Chat
|
