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WOOOOT!! Refinancing

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    #1

    WOOOOT!! Refinancing

    I posted a message on here a few days ago about refinancing to get my ex-wifes name off the house. Well, I looked over the forums and decided to contact one of the lenders that seems to be recommended a lot.

    I just got a call that they are going to approve a refinance on my home. at 6.25% for a fixed 15yr. I was in at 30yrs at 8%. Decided to belly up the extra 100 bucks and knock about 15 years of finance charges off

    Not too shabby for just about 1 month out of the discharge! Just have to go through the appraisal.
    7/12/2001 Filed Chapter 13
    8/21/2001 341 Meeting
    9/21/2001 Plan Confirmed
    6/21/2006 Discharged
    7/06/2006 Closed
    Tags: None
    #2
    WOW, Rob!!

    Congrats!! and WTG!!

    Just think of all the money you will save in the long run!!!
    Filed Ch 7 - 09/06
    Discharged - 12/2006
    Officially Declared No Asset - 03/2007
    Closed - 04/2007

    I am not an attorney. My comments are based on personal experience and research. Always consult an attorney in your area to address concerns related to your particular situation.

    Another good thing about being poor is that when you are seventy your children will not have declared you legally insane in order to gain control of your estate. - Woody Allen...

    Comment

      #3
      Fantastic news, Rob! Great to see that there's good things happening for you - you are well on your way to better times now!
      I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.

      06/01/06 - Filed Ch 13
      06/28/06 - 341 Meeting
      07/18/06 - Confirmation Hearing - not confirmed, 3 objections
      10/05/06 - Hearing to resolve 2 trustee objections
      01/24/07 - Judge dismisses mortgage company objection
      09/27/07 - Confirmed at last!
      06/10/11 - Trustee confirms all payments made
      08/10/11 - DISCHARGED !
      10/02/11 - CASE CLOSED
      Countdown: 60 months paid, 0 months to go

      Comment

        #4
        thanks ya'll. This forum has been absolutely fantastic! wish I would have found it about 5 years ago.
        7/12/2001 Filed Chapter 13
        8/21/2001 341 Meeting
        9/21/2001 Plan Confirmed
        6/21/2006 Discharged
        7/06/2006 Closed

        Comment

          #5
          Good for you Rob, who did you use if you don't mind me asking?
          Discharged 2/27/06, closed 6/1/06

          Comment

            #6
            newstart just sent you a pm with that information. Wasnt sure if we were allowed to post that stuff on the open forums (advertising etc).
            7/12/2001 Filed Chapter 13
            8/21/2001 341 Meeting
            9/21/2001 Plan Confirmed
            6/21/2006 Discharged
            7/06/2006 Closed

            Comment

              #7
              Please let us know how this turns out.

              I am dying to know the outcome.
              BUSY running my own credit repair services! Sorry I don't stop in so often any more!

              Comment

                #8
                The shift in rate from a 8% to a 6.25% from a 30yr fixed to a 15yr fixed, seems too much. All else being equal, a 1.75% difference in rate sounds too good to be true. I'm not saying the lender is being misleading, but to protect yourself, do the following:

                Ask your lender for a good faith estimate and a pre-qualification from the lender the broker is using. In the non-prime markets, as a broker, you can get a 14-30 day rate commitment by submitting a 1003 application and credit report to the lender's underwriting department.

                Comment

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