Question regarding refinance.anybody can help me?
June last year I bought my house through a Realtor and she handled all the
finances for me. I got an adjustable 7.75% FHA loan. During the process she
told us that our rates will surely go up a percentage a year after. June
this year I refinanced through her with a fixed 7.5 %. loan. The loan closed
on 8/30/01 and increased my loan balance from $154k to $162k.
Low and behold I got a letter from my original loan company that says that
my interest rate dropped from 7.75% to 6.75%.
Is it too late for me to do anything?
-It is never too late: the point is what transaction
fees you would incur (thus what net costs in the
long term.) Alternatives are:
1. Mortage brokers (likely to know more than
realtors.)
2. Your own bank: if they handle mortgages
you mi