Have You Ever Wondered Why Someone Didn't Refinance When Rates Were in the 3's?

Judy told me she wasn’t willing to go through the hassle AGAIN. She refinanced in 2004 and swore she would never do it again. She was recently divorced last time around and felt that what she was being asked to pride was an invasion of privacy.

Brenda and Terry had a bankruptcy a few years earlier and felt no one would want to give them another mortgage. They also said they were afraid to look at their credit, expecting it to look like crap.

Albert knew that his property was not worth what he paid for it when it was purchased in 2005. He put no money down, did an 80% 1st mortgage and a 20% second mortgage at the time. He told me he did one of “those” loans that can’t be refinanced. He was talking about a subprime loan.

The list of reasons is endless. Even though my refinance business has slowed down when interest rates went from the 3’s and into the 4’s, there are many more folks that can refinance, they just don’t know it or are afraid to check it out.