Question by Bond007: I just asked this about refinancing…?
I just asked this …but repeating a question becuz of a tiny misunderstanding
My parents received a letter which mentions these things …WHAT DOES THIS MEAN ????
you may refinance and possibly lock in a interest rate and get a good amount of cash from your home‘s estimated available equity through exclusive fast track loan program, available to you as a select, qualified COUNTRYWIDE home loans customer ? On top of this you may also qualify for 1/2 point reduction in in the DISCOUNT POINTs on your NEXT HOME REFINANCE or Purchase Mortgage ..
MY PARENTs own this condo for last 4 years and they received this letter …….. is this for REAL ???g
do my parents have any real benifits from this … ?? is there a possibility of gettig a cash …. ?
Somebody answered this question that I may be able to get the cash but i should only use that in emergency … i just need to know HOW THIS WORKs ?? Thanks for the suggestion and pre
Best answer:
Answer by mister ed
yes they could get some money out of the house -=– if the condo has went up in value — along with what they have paid down on the original loan == if they are interested they need to contact country wide and get more details — but do not be disappointed if the market has went down and they can not get any extra money!!!!
Know better? Leave your own answer in the comments!