Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: Jim Willie CB who wrote (18541)	9/9/2002 12:34:16 PM
From: Sharp_End_Of_Drill	Read Replies (2) of 36161

Jim, I have a friend that just refinanced his house with what I thought was a unique package. Instead of refinancing in the traditional sense, the new loan is packaged as a 'home equity loan' for 100% of the value - with zero application fee, zero closing costs, and zero points. He was able to lower his payment a few hundred per month, get rid of PMI, and get a lower interest rate. Financial engineering at it's best. Creative packages like this, and easy money, will keep this bubble going for a while. Sharp

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