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Ugh ( House Related)
I am kicking myself for having E's aunt involved in our house hunt and using her friend as our mortgage lender ( broker?). The lender is thinking refi is a good idea because of how low the interest rates are. I don't want to refi. Our interest rate is good. If we refi now it will only save us about $100 a month. I don't think the hassle is worth it.
She had talked about this a month ago but I hadn't heard anything. This morning I got an email from our Realtor to the lender and myself which leads me to believe that she is now researching the refi. I sent her an email telling her we don't have any interest in the refi at this point. That with my student loans coming due we won't qualify the way we did before.
I guess the point of this post is family should remain out of these types of things!!!!!
And E wants to but he doesn't realize all that is involved in doing this. I got so sick when we were buying the house, I don't want to do that again.
Re: Ugh ( House Related)
See this is the problem. E doesn't realize that we would have to come up with roughly $3200 up front for the closing costs, and right now we don't have the money to do that. And bundling it into the total would be stupid and our payment would be more than it is now.
I think the thing that bothers me the most is that the lender contacted the realtor for information before she even contacted me. Needless to say I sent her an email this morning and she hasn't contacted me back yet.
I'm not terribly knowledgeable about these things but i was under the impression that a refi is only worth it when you're getting significant savings.
This person who is pushing you to do this, would they be getting a kick back? If so, then that explains why they're all over it.
Maybe try explaining to your husband how long it will take to recoup the money that you'd have to pay up front. $3200 at $100 a month is close to 3 years. Tell him it's possible in the next 3 years that you'd be able to find an even better deal. (I don't really know, just making stuff up now)
This has "shady" written all over it.
I would not trust anyone who came to me through our Realtor. It sounds like she is working with her to get clients. Not cool.
I don't trust this. Not for a second.
Yeah its really complicated. But we know her so I know its not actually shady.
I came home last night all worked up to talk with E about it and he was all " well I had no plans of doing that anyways love, its fine." Well husband that would have been nice of you to tell me that!