Hi I am an overseas trustee with properties in LA area would I be able to re finance the properties with 5.2% and 6.2% mortgages for better rates

(0) | asked by: paul mcgrath | share | 27 months ago | Report
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answer by Robert Dilley    |   Visit My Website   |   Contact Me
You really did not give enough information to answer your question. What type of properties are these? Single family homes, condos, apartment buildings, duplexes, these all have different interest rates. 5.2% sounds like a really good rate for an apartment building, but probably not for a condo. Do you really want to refinance just to save a small fraction of a point? Are you familiar with amortization schedules? Even in you can get a better rate, it usually will cost you more in interest to reset the loan, but this all depends on how old your mortgage is and what type of property you have, etc. Furthermore, are you talking about a fixed rate mortgage or an adjustable? Does the adjustable have caps and what is the term of the loan? Call me if you would like to discuss further?
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8 months ago  |   Report   |   share
answer by Catherine OSullivan    |   Contact Me
In most cases, yes. Speak to a lender to find out if you qualify.
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27 months ago  |   Report   |   share
Gwethalyn Walker
answer by Gwethalyn Walker   
How can I info on the homes in my saved searches
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27 months ago  |   Report   |   share
answer by George Hann    |   Visit My Website   |   Contact Me
if you are talking about Residential properties the answer is Yes,
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27 months ago  |   Report   |   share
answer by Marnie Vandeusen    |   Contact Me
That is a lending specific question. I have a great lender who would be able to advise you on your refinance options for your LA properties.
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27 months ago  |   Report   |   share
answer by Adrienne Dimeno    |   Contact Me
A property held in trust gives the trustee the power to take out a mortgage, however the trustee will need to sign a promissory note.
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27 months ago  |   Report   |   share
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