I have been kicking around in my head the idea of refinancing. With the housing market in such a slump, I was wondering if we would be able to refinance for a lower mortgage rate than we have now or if this slump, which likely lowers housing values, would work against us from that respect. I guess it wouldn't hurt to get some mortgage quotes and see.
Read more...Our house we bought two years ago, we recently refinanced and went FHA on. We'd never done that before so it was a new experience for us. We had to meet certain requirements on the home we were financing in order get approved for FHA and get the loan with the mortgage lenders. By doing this, we were able to afford to get a lot of things updated on the house that needed it, like the roof, furnace, kitchen, and floors. It was great for us!
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