PDA

View Full Version : I need a mortgage!! Is reverse spam o.k. here?



RiverForUs
03-21-2006, 10:39 PM
The river house is done so it's time to refi the HELOC into most likely a 30 yr. fixed. I know rates were just at a 3-year high but who's got the best program? Rather than spend thousands of dollars buying down the rate to 5.5% or so, I was thinking of going with a no cost/no fee loan and refinancing (to a new no cost/no fee loan) every time the rate drops. Do any financial institutions do this? Basically looking to do a streamlined refinance every time the rate drops until it gets to a point that I'm comfortable buying down.
Several people here suggested WAMU for the HELOC and they turned out to be the best deal at the time. Any suggestions now?

Parker Dreamin
03-21-2006, 11:29 PM
The river house is done so it's time to refi the HELOC into most likely a 30 yr. fixed. I know rates were just at a 3-year high but who's got the best program? Rather than spend thousands of dollars buying down the rate to 5.5% or so, I was thinking of going with a no cost/no fee loan and refinancing (to a new no cost/no fee loan) every time the rate drops. Do any financial institutions do this? Basically looking to do a streamlined refinance every time the rate drops until it gets to a point that I'm comfortable buying down.
Several people here suggested WAMU for the HELOC and they turned out to be the best deal at the time. Any suggestions now?
You should Pm Tequila John.. he is in AZ and runs a mortgage Branch....

Hardly Satisfied
03-22-2006, 02:25 AM
Check with Tobtek , he might be able to help you

Wakker
03-22-2006, 03:32 AM
Any firm that refi's you over and over would be subjecting themselves to potential legal problems...

RiverForUs
03-22-2006, 04:07 PM
I got all your pm's. I'll try to give you guys that left numbers a call Thurs or Fri. I'm off to coach my son's little league game and then a pizza party after so this evening's not a good time.
Thanks again,
John

Holland
03-22-2006, 04:16 PM
The river house is done so it's time to refi the HELOC into most likely a 30 yr. fixed. I know rates were just at a 3-year high but who's got the best program? Rather than spend thousands of dollars buying down the rate to 5.5% or so, I was thinking of going with a no cost/no fee loan and refinancing (to a new no cost/no fee loan) every time the rate drops. Do any financial institutions do this? Basically looking to do a streamlined refinance every time the rate drops until it gets to a point that I'm comfortable buying down.
Several people here suggested WAMU for the HELOC and they turned out to be the best deal at the time. Any suggestions now?
Holy CRAP!!!!! You still alive!!!!!!
Havent talked to you in a while... How is life John... How is the new house???
Show some pics!!!!!

havaduner
03-22-2006, 06:05 PM
Try Bre, over on ISL... bcook@newportlending.com

riverroyal
03-22-2006, 07:47 PM
he is the man,pm me if you need his cell.

JB in so cal
03-22-2006, 07:48 PM
he is the man,pm me if you need his cell.
Queer! :rolleyes:

riverroyal
03-22-2006, 07:50 PM
you just got back from san fransisco ,and Im queer :idea:

bigq
03-22-2006, 08:04 PM
The river house is done so it's time to refi the HELOC into most likely a 30 yr. fixed. I know rates were just at a 3-year high but who's got the best program? Rather than spend thousands of dollars buying down the rate to 5.5% or so, I was thinking of going with a no cost/no fee loan and refinancing (to a new no cost/no fee loan) every time the rate drops. Do any financial institutions do this? Basically looking to do a streamlined refinance every time the rate drops until it gets to a point that I'm comfortable buying down.
Several people here suggested WAMU for the HELOC and they turned out to be the best deal at the time. Any suggestions now?
How far do you think these rates are going to drop? :rolleyes:

Her454
03-22-2006, 08:32 PM
I would try JetBoatGuru also, he is here on the boards and has helped several members.

Ziggy
03-22-2006, 11:11 PM
Queer! ,and Im queer :idea:
WTH have you guys gotten yourselves into now.........better hope your wives don't see this thread :D :D :p Keep private stuff private....sheeeeesh :rolleyes: :D

RiverForUs
03-22-2006, 11:52 PM
Holy CRAP!!!!! You still alive!!!!!!
Havent talked to you in a while... How is life John... How is the new house???
Show some pics!!!!!
I was off the boards for a few months--busy with work, kid's soccer, basketball, and now assistant coaching on both of my son's little league teams. The house is finally done as we took possesion about a month ago. Still quite a few items on the punch list from the walk through. I'll put up some picks later this week.
How far do you think these rates are going to drop?
I think they're going up for at least the next 6 months or a year, maybe longer. The last numbers I've run on the break-even point for buying down the rate were about 70-80 months. So, if the rates take a turn and go back down in the next 6-7 years I'd be better off waiting to buy down the rate. I just don't want to spend thousands of dollars to buy down the rate now, thousands more in a few years to buy down again if the rates drop, and then possibly thousands more to buy down again for a third time within those same 6-7 years. Maybe I'm too optimistic thinking they'll fall again within that time frame and am just spoiled from the historic lows of 2003. If my builder wasn't a year late starting the house I would have been in a much better situation!
Any firm that refi's you over and over would be subjecting themselves to potential legal problems...
What's the law here? A loan officer I talked to today at Wells Fargo said this wasn't true. Does he not know what he's talking about?

RiverForUs
03-23-2006, 11:46 PM
Good to hear the house is finally done. Congrats and get out here already :)
First trip is the day after Easter. We'll be out for the whole week :boxed: