Here goes nothing...wish us luck

[taxguykarl]

Mrs. TGK & I are refinancing the mortgage on our house. I phoned in our intial application last week (same bank that presently holds our mortgage). The paperwork arrived Friday. I just checked and the signed stuff arrived about an hour ago.

Here's to hoping the refi app goes through. It will save us at least $130/month and knock 2 years off the payments (we are 8 years into a 30-year; refinancing to a 20 year fixed). I ran some figures and found that if we were to maintain the same payments (putting the excess to principal, of course), we own our house free and clear in 17 years. We aren't underwater with the mortgage (thank heaven) even by some of the most pessimistic guestimates.

Wish us luck, there are actually standards to lending (that wasn't the case with our last refi).

[Der Cute]

I wish you good luck, speedy paperwork processing, and good customer service from the banks.

[42_42_42]

good luck! we refi'd once a few years ago and are looking at doing so again for similar reasons (knock years off and reduce monthy payment).

[Evil Queen]

Good luck! I may be doing that myself soon. With the plans I have, however, I have 9 years left on my 30 year mortgage.

[taxguykarl]

Thanks all.
An update of sorts: The appraiser left about an hour ago. I hope it doesn't show us underwater I don't know about their techniques, but it can't help that the dysfunctional couple just down the road lowered their selling price again. OTOH, zillow and other home value sites are all over the map on our place.

I just checked the status from the bank website, so far so good. I sure hope this goes through.

[Kara]

Good luck!

I've thought about it several times. Thanks to falling behind a time or two and doing "payment arrangements" I'm up to about $300 a month more than where we started.