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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: russwinter who wrote (35965)7/14/2005 9:11:14 AM
From: Wyätt Gwyön  Read Replies (2) of 110194
 
There are also big penalties for refinancing.

i thought it was a "constitutional right" that borrowers can always refinance without penalty--i.e., pay off their existing mortgage early without penalty, even as they take on a new mortgage. are you saying this is not possible for refinancing? clauses to discourage refinancing through penalties make sense, since lenders are giving away the loans. i just did not think they were allowed by law. also, it upsets mish's theory that you can always refinance for free.
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