QUESTION: What does LTV mean? I keep hearing this term and want to know what it stands for.January 16, 2019
QUESTION: What are the advantages and disadvantages to an interest only loan? I like the lower payments!February 15, 2019
If interest rates are about the same as when you made your new home mortgage, I would suggest checking in to see if your current servicier will do a re-cast of your loan. This means the servicer would take the large principle reduction and then reamortize the loan at the paid down amount for the remaining term of the loan. Much cheaper than a refinance and most servicers can do this.
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