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Should I refinance?

I have 7 years left on a 15 year mortgage. I owe $90,000 on the loan and my home is valued at $450,000. My rate is 5.0 % I'm looking to refinace a higher $ amount because we need many repairs to our house but do not have the liquid cash. If I refinance back to a 15 year mortgage at 3.5 % and take out 50k or more on the load, is it worth it? by tlfkc_135_929 from Brookfield, Connecticut. Sep 7th 2011 Reply


CT:You have a need for repairs and are currently low on cash. This is an excellent time to refinance. We are at the bottom and money is very cheap.You might want to consider a 10 year so give me a call and let's review the numbers.Jim ViottoSuperior Mortgage973-292-6500 ext 101

Sep 7th 2011
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Marcus Buchanan (mbuchanan)
#313 ranked lender in California - 28 contributions

While you are in a unique situation of only having 7 more years left on your current mortgage, refinancing is defiantly a great option for you especially now because today's rates are extremely low. With a rate of 3.5% for 15 years and some cash out to do some repairs, you will still be able to save money and get the necessary repairs so you can get your home back in order. Feel free to refinance with confidence.Marcus BuchananParamount Equity707-393-9120

Sep 7th 2011
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