RandRmoney
Contributing Member
Cash: $ 7.65
Posts: 33
Joined: 03 Mar 2011
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| Is it easy to refi? |
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About to close the deal on a duplex and I know its worth about twice as much as the purchase price.
My credit is cool...700+. Is refinancing as sweet as it used to be.
I am paying cash to lock down the deal and I want to get my cash back.
Talk to me people.
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Thu Aug 25, 2011 12:41 am |
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jfurnish
Contributing Member
Cash: $ 7.00
Posts: 35
Joined: 01 Jul 2011
Location: CA
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| Re: Is it easy to refi? |
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quote:
Originally posted by RandRmoney
About to close the deal on a duplex and I know its worth about twice as much as the purchase price.
My credit is cool...700+. Is refinancing as sweet as it used to be.
I am paying cash to lock down the deal and I want to get my cash back.
Talk to me people.
they just want the paper work to all be in order so it seems like it takes longer than it did but you can still get it done.
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Thu Aug 25, 2011 12:54 am |
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RandRmoney
Contributing Member
Cash: $ 7.65
Posts: 33
Joined: 03 Mar 2011
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| Thanks |
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Now see, I don't want to do all of that. With a property thats paying for itself, a good credit standing and cash to back me up, I should'nt have to go through the hoops.
Would a home equity loan or line of credit be easier?
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Thu Aug 25, 2011 11:19 am |
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littleroc02us
Moderator
Cash: $ 384.35
Posts: 1891
Joined: 09 Feb 2009
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My appraiser yesterday was telling me about how the banks use to be able to manipulate the appraisals so the loan would go through, but due to the tightening up the banks have to pick them blindly and cannot even talk to them. This process of signing docs, locking up interest rates has now lasted about 3 weeks. Still waiting.
Risk comes from not knowing what you're doing. (Warren Buffet)
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Thu Aug 25, 2011 1:26 pm |
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