real estate finance - full book (500 pgs)

10

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Unformatted text preview: ...................................................... 14-44 CHAPTER 15: REFINANCING OR NOT AND CHOOSING A LENDER 15-1 Preview.............................................................................................................. 15-1 REASONS TO REFINANCE.................................................................................. 15-1 Interest Rate Reduction ..................................................................................... 15-1 2% Rule of Thumb ............................................................................................. 15-2 Escaping an ARM .............................................................................................. 15-2 Tax–Free Cash .................................................................................................. 15-3 Balloon Payment................................................................................................ 15-3 Planning For Sale .............................................................................................. 15-4 REASONS NOT TO REFINANCE ......................................................................... 15-4 No Real Advantage............................................................................................ 15-4 COSTS OF REFINANCING ................................................................................... 15-5 Origination Fee .................................................................................................. 15-5 THE HOME EQUITY LOAN OR LINE OF CREDIT ............................................... 15-6 The Second Mortgage ....................................................................................... 15-6 Line of Credit ..................................................................................................... 15-7 Tax Law Changes.............................................................................................. 15-7 HOME EQUITY LOAN CONSUMER PROTECTION ACT..................................... 15-7 1-12 Licensin...
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This note was uploaded on 12/30/2010 for the course SOC 101 taught by Professor Zhung during the Spring '10 term at Punjab Engineering College.

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