20 Oct

With today’s interest rates, we’re looking at refinancing our home. Unfortunately, all the programs that currently exist help people who are having problems paying their loan. We aren’t. In fact, we’re a good risk. Chase has never sold our mortgage. This screws us.

Due to falling property values, we owe more than 80% of the value of our home. If our loan were owned by Fannie Mae or Freddie Mac, we could refinance without PMI. As it is, we can’t. Amusingly, per Chase customer service, if we refinanced with PMI, they would sell our loan to one of the FMs.

Leave a comment

Posted by on October 20, 2010 in Debt Reduction, Finances, Home Ownership


Tags: , , , , ,

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: