lmp asked:


My girlfriend and I bought our first new house in Arizona at the end of the buying boom in December 2005. It is an interest only ARM at 8.1%. We got in cheap, but we both make more money now and can afford our $1867/mo payment. We know we have to refinance at the end of 2 years. We are not sure of the equity gained, as the housing market has slowed. The house is in great shape, we had nothing to do to it. What type of loan should we look for and when should we refinance?

Caffeinated Content for WordPress

kas asked:


I just purchased a house last summer. I have 2 loans on it; 80% at 6.2% & 15% at 7.8%. Is it worth to refinance and pay additional closing cost? Will I have to do the appraisal again on my house? What happens if the home price has appraised down? What happens if the home price has appraised up?

Caffeinated Content for WordPress

lct7192000 asked:


I received the announcement 2 days ago. I am waiting for response from loan company because I am not sure what is going on. About two weeks ago I asked them to give me a status of all the checks that had been sent out because I had not been receiving many acknowledgements of paid in full notices. Should I be calling a lawyer? Please advise.

Caffeinated Content for WordPress

Dalton C asked:


I want to refinance my current auto loan, and i don’t know alot about refinancing because i never did it before. First, how many payments do i have to make on time before i can check with different companies about refinancing? Some people have told me you can refinance after 6 months of on time payments. Second, how much will my payments or interest rate drop from my current rates? Third where is the company/bank to go for refinancing?

Caffeinated Content for WordPress

sjr07 asked:


Can i refinance my 80% loan without touching my 20%? Of course I owe more on the house than it is worth.

Caffeinated Content for WordPress

appenzellar asked:


They took my application/appraisal fee on my credit card and then 2 days later said they are closing up. They didn’t do the appraisal yet.

Caffeinated Content

Sandra asked:


We got approved for a loan w/ 100% fianncing but the payments are high due to PMI. Our price is about $15K less than the home value, thus we should have some “instant equity”. We are just wondering how soon we could refinance in order to have lower payments? There is no pre-payment penalty on our current loan, but since we do not have our own money invested yet, we are wondering if we’d be able ro refinance soon?

Caffeinated Content

baby_rost asked:


on hte pay off or for the total value of the car? Which will give me $500 cash.
I am doing my payments 90 days out so I can save up money.

I also may sell the car, but not sure yet.

Should I take the full amount and save the $500?

Caffeinated Content

Derrick W asked:


I want to refinance my current auto loan, and i don’t know alot about refinancing because i never did it before. First, how many payments do i have to make on time before i can check with different companies about refinancing? Some people have told me you can refinance after 6 months of on time payments. Second, how much will my payments or interest rate drop from my current rates? Third where is the company/bank to go for refinancing?

Caffeinated Content for WordPress

grc asked:


I need a loan of 6000.00 and I am willing to pay 25% interest on it and I just need it for 18 months. I have paystubs, same job for 8 years, direct direct deposits, make 80 thousand a year, can show tax records. My wife had a stroke a few years ago and was unable to work and we got behind on a lot. she is now better and we are back on our feet, but have bills we really need to pay off in order to build back up our credit. I get a bonus in March 07, used this years to pay off an old tax lien from 1998. Can show proof of this also. I just need someone to give me a shot. I would be willing to sign a peronal guarantee and allow a lien to be put on my house by the person who lends the money for collateral.
Do you know anyone who might be interested?
I can’t do a traditional home equity loan because in Texas you can only refinance 80 percent of your homes value. I owe 98,000 and it appraises now 130,000. You will get your money.

Caffeinated Content