to just take money out? if u already have a low fixed interest rate. is it possible, if u wanted to refinance to take money out you could, and ud end up taking alot of money out, BUT , instead you end up paying more montly payments that you were before? if i did try to refinance and it ended up making my monthly payments higher....doesnt that defeat the purpose of refinance? or is the money i take out worth it? i owned the house for almost a year, fixed low rate, paying interest only, but someone told me i could still reifnance to take money out before i plan to sell so that money i get back will be tax free since i plan on selling really fast.
what about when you also have a low fixed rate, but ur house appreciates 5% or higher? how does refinancing work with that? i heared about people refinancing and they end up paying a higher monthly payment and that confused me?
2007-02-08
22:04:33
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4 answers
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asked by
beach_babe971
2
in
Renting & Real Estate