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To: Les H who wrote (203616)11/8/2002 8:47:11 PM
From: Mike da bear  Read Replies (1) | Respond to of 436258
 
Re:Mortgage prepayment.

Seems like I could refi a 30 yr mort every couple months as rates drop a 1/4 or 3/8pt. I've to this date been doing no pt, no closing cost.
Each time I refi the old mortgagor is losing 1.5 to 2 pct of his principal because that was what was used to pay the mortgatge originator and the closing cost fees.
Seems like this is some sort of scam going on, someone is losing money and it's not me.
mdb