Quotes About Refinance

Borrowers were told not to worry about paying the ever-mounting debt, because house prices would keep rising and they could refinance, taking out some of the capital gains to buy a car or pay for a vacation.

he said. "I remember very well. Because of our student loans, Michelle and I could never catch up. So, some months, we paid our bills with credit cards. I went to refinance our condo and I was kind of surprised when they said, 'You can get cash, too.' So all of a sudden, my condo is worth fifty thousand dollars more and I can take forty thousand dollars in cash as a loan? I did it, but it seemed too good to be true. It was a racket.

Recently we refinanced the 182-unit building, which we had owned less than a year. Its newly appraised value was $11.3 million, more than $2 million above what we paid for it. And since I own 10 percent of the project, I made over $200,000 in less than a year. A testament to the power of buying and managing right and managing well.

Right now we think that rates will stay low, that you'll be able to get a mortgage below seven percent and that's kicked off a refinance boom that's going to put more money in the pockets of consumers.

Homeowners refinance their loans when interest rates go down. Businesses refinance their loans.

You can refi your car loan just like you can refi your mortgage. It's even easier and less expensive. There's no appraisal process, and fees are minimal for a new car title. A couple of caveats: Most lenders require that the car be less than five years old and have a minimum loan balance of $7,500.

by making it costly for them to refinance.

And let's be honest about it. Hybrid ARMs were never made based on the assumption that the borrowers would be able to make the payment once the loan reset. They were designed as two or three year "bullets" ... with the assumption that home appreciation would allow the borrower to refinance at, or before, reset. Given current conditions in the housing market, this business model is no longer viable, which should come as no shock to anyone.

the Home Affordable Modification Program (HAMP), designed to reduce the monthly mortgage payments of eligible homeowners to no more than 31 percent of their income, and the Home Affordable Refinance Program (HARP), which would help borrowers refinance their mortgage at lower rates even if their homes were underwater.

If your appraisal comes back too low - you don't have at least 10% equity for a conforming loan or 20% for a jumbo loan - you might not be able to refinance at all, at least with a loan that's packaged and sold to Fannie Mae and Freddie Mac. That means you may have to pay a much higher rate.

The decline in home equity makes it more difficult for struggling homeowners to refinance and reduces the financial incentive of stressed borrowers to remain in their homes.

Mint's business model became, 'We'll go for free, and then we'll find these savings opportunities for you.' You know, better interest rate on your credit cards, when should you consolidate your student loans, when does it mathematically make sense to refinance your mortgage, and Mint figures all that stuff out for you.

When SoFi launched in 2011, it focused squarely on the burgeoning student loan market - a market that, unlike housing, had no viable option to refinance both federal and private student loans from higher interest-rate eras.