From: vze8f3tq@verizon.net (v)
Newsgroups: misc.consumers.house
Subject: Re: A question about mortgage principal and interest
Date: Fri, 08 Jul 2005 16:03:24 GMT

On Tue, 05 Jul 2005 10:18:45 -0400, someone wrote:

>> I know that, at the very least, we should do one of the no-cost
>> refinancings and get the instant savings...

>  They they say its no cost, they are probably just liers.

Yup.  Pretty much no such thing as a "no cost" refi.  Just no "up
front" or "cash" cost - but there is likely a fee or cost or increased
amount owed, that is built into the loan terms somewhere.  Asking
rhetorically - what if you were to do the "no cost" refi, and then
turn around and want to pay it off (or refi it again) the very next
day - would you REALLY only owe what you used to owe?

Don't finance your closing costs for the refi over 30 years.


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