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Subject Author Date
refinancing _______ 07-21-2005
| `--> Re: refinancing Alexander Glove...07-22-2005
`--> Re: refinancing Jeff Strickland07-22-2005
Posted by _______ on July 21, 2005, 9:02 pm
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Hi
I just brought a house in Long Island NY last Nov, so I've been in there
less than 12 months. Can i refinance now or do I have to wait till I've been
in there over a year?

--
remove xxx from email to reply




Posted by Rainmaker on July 22, 2005, 12:42 am
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> Hi
> I just brought a house in Long Island NY last Nov, so I've been in there
> less than 12 months. Can i refinance now or do I have to wait till I've
> been in there over a year?
>
> --
> remove xxx from email to reply

If the house was new construction you can probably refi now with a new
appraisal; if you bought a re-sale, most lenders will require you to use the
purchase price.

Consider an equity line if you're looking for cash.




Posted by Alexander Glover on July 22, 2005, 11:37 am
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If you're just looking to get out of debt early and save money, call your
local Primerica office. Tell them what you need and they will help you.


>
>> Hi
>> I just brought a house in Long Island NY last Nov, so I've been in there
>> less than 12 months. Can i refinance now or do I have to wait till I've
>> been in there over a year?
>>
>> --
>> remove xxx from email to reply
>
> If the house was new construction you can probably refi now with a new
> appraisal; if you bought a re-sale, most lenders will require you to use
> the purchase price.
>
> Consider an equity line if you're looking for cash.
>




Posted by Jeff Strickland on July 22, 2005, 7:57 pm
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Yes, you can refi now. The trouble is that some lenders will want to use the
orignial sales price for value, and some lenders will allow you to use the
new value. The lenders will go for new value in the case of new
construction, and this could help you if you are the first owner.

You should find a mortgage broker that can help you arrange the loan because
a broker will be able to find the lenders that will let you use the new
value. If you want to do a rate and term, and take no cash, then your pool
of available lenders will increase.





> Hi
> I just brought a house in Long Island NY last Nov, so I've been in there
> less than 12 months. Can i refinance now or do I have to wait till I've
> been in there over a year?
>
> --
> remove xxx from email to reply
>



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