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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (19794)	10/8/2004 8:13:47 AM
From: Madharry	Respond to of 78602

That is certainly a remarkable record Paul- almost too good to be true. Unfortunately too often i have seen that when a company like that stumbles the market overeacts and the price plummets. then it might be a terrific buy. OT - I just received a letter in the mail from my previous mortgage holder offering to either extend my loan at a lower rate or to increase my loan and take money out of my equity to use for my cash needs. I assume they are trying to beef up their refinancing profits and numbers before year end. they have closing fees of $3,300 which they are kind enough to include in the new mortgage balance if i refinance at the lower rate . but if i take money out and increase the mortgage balance it looks like there are no closing costs. but below it says that closing costs will be deducted from the cash out. oh well it looked too good to be true. I wonder what it costs the bank to refinance this loan- i am guessing that their profit margin on this transaction is probably at least 40%.