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Rycois
Blessed with 2blue/2pink
Member since 12/05 13341 total posts
Name:
J
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Is there any reason refinancing would hurt me if selling?
Message edited 6/5/2009 12:07:37 PM.
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Posted 6/4/09 10:46 AM  |
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Lucky09
2017!
Member since 1/06 7537 total posts
Name:
DW
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Re: Is there any reason refinancing would hurt me if selling?
I *think* the only way this would hurt you is if you didn't recoup the closing costs (which you aren't paying anyway).
And I just want to add - are we the same person?
We are in the process of refinancing this month and are also contemplating selling... LOL.
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| Posted 6/4/09 11:13 AM |
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Rycois
Blessed with 2blue/2pink
Member since 12/05 13341 total posts
Name:
J
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Re: Is there any reason refinancing would hurt me if selling?
Posted by Lucky09
I *think* the only way this would hurt you is if you didn't recoup the closing costs (which you aren't paying anyway).
And I just want to add - are we the same person?
We are in the process of refinancing this month and are also contemplating selling... LOL.
 It's so freaking frustrating - the back and forth. But I guess, at some point, you have to just take a gamble. Not sure if being PG with my second is the best time to gamble  but this is what we're dealing with! AHHHHHHHHHHHHH 
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| Posted 6/4/09 11:15 AM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Is there any reason refinancing would hurt me if selling?
you might not be paying closing cost- but there is no way around the tax you have to pay, title fees and other fixed costs
I would check with who ever is doing the refi for you about that
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| Posted 6/4/09 1:17 PM |
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Rycois
Blessed with 2blue/2pink
Member since 12/05 13341 total posts
Name:
J
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Re: Is there any reason refinancing would hurt me if selling?
Posted by Beth
you might not be paying closing cost- but there is no way around the tax you have to pay, title fees and other fixed costs
I would check with who ever is doing the refi for you about that
Oh, def. something to look into - thanks Beth!!
Their claim is I pay nothing (but my interest rate is .5% higher than it would be if I paid closing costs).
Message edited 6/4/2009 1:21:22 PM.
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| Posted 6/4/09 1:20 PM |
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mandasue
LIF Adolescent
Member since 3/09 772 total posts
Name:
Amanda
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Re: Is there any reason refinancing would hurt me if selling?
sometimes the closing costs are waived conditionally, my FIL did that and he couldnt sell the house for 3 years or he would have to pay back the closing costs.....just a thought.....
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| Posted 6/4/09 1:24 PM |
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cutie
LIF Adult
Member since 2/06 1893 total posts
Name:
Janine
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Re: Is there any reason refinancing would hurt me if selling?
Posted by SweetCaroline
Posted by Beth
you might not be paying closing cost- but there is no way around the tax you have to pay, title fees and other fixed costs
I would check with who ever is doing the refi for you about that
Oh, def. something to look into - thanks Beth!!
Their claim is I pay nothing (but my interest rate is .5% higher than it would be if I paid closing costs).
I think that if you are refinancing through your current mort. company that you don't have the tax and title fees since they already have the clear title from your original loan and I "think" that you don't have to pay the tax if it is considered a continuation of your current loan just at a different rate.
If you were taking out a "new" loan you would have to pay the taxes.
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| Posted 6/4/09 1:56 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Is there any reason refinancing would hurt me if selling?
Posted by SweetCaroline
Posted by Beth
you might not be paying closing cost- but there is no way around the tax you have to pay, title fees and other fixed costs
I would check with who ever is doing the refi for you about that
Oh, def. something to look into - thanks Beth!!
Their claim is I pay nothing (but my interest rate is .5% higher than it would be if I paid closing costs).
so in a way they are "rolling" them in
never hurts to ask again-- I would hate for you to be misled- it's happens all the time unfortunatley
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| Posted 6/4/09 2:24 PM |
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-Lisa-
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Member since 5/05 6530 total posts
Name:
Lisa
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Re: Is there any reason refinancing would hurt me if selling?
have you had your appraisal already? I would wait to list the house until after the appraisal. If the house is listed, we have to note it on the appraisal and banks often won't lend if the property is for sale.
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| Posted 6/4/09 2:30 PM |
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Rycois
Blessed with 2blue/2pink
Member since 12/05 13341 total posts
Name:
J
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Re: Is there any reason refinancing would hurt me if selling?
Posted by -Lisa-
have you had your appraisal already? I would wait to list the house until after the appraisal. If the house is listed, we have to note it on the appraisal and banks often won't lend if the property is for sale.
Yes, it was already appraised.
BTW, I just called my loan officer to ask the question and he said he's not sure of the answer He's looking into it.
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| Posted 6/4/09 2:41 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Is there any reason refinancing would hurt me if selling?
Posted by -Lisa-
have you had your appraisal already? I would wait to list the house until after the appraisal. If the house is listed, we have to note it on the appraisal and banks often won't lend if the property is for sale.
I was just coming back to add that
I remember this coming up once- the house was on the market- they wouldn't refi it
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| Posted 6/4/09 3:04 PM |
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