“Who Says the Refinance Mortgage Business is dead?”
Hi Joe,
How are you?
Last year I purchased a waterfront cottage in Lebanon. Yesterday the town finally signed off on the conversion of the home from seasonal use to year round use. Now that this is done, I'm looking to refi the home as a second home.
I bought the home in September of 2016 for $225,000. The seller is holding a mortgage of $175,000 (balance roughly 172k). Attached is the promissory note. As you can see, I'm running out of time for the refi and would love to have you assist me.
If possible, I'd like to look into cash-out refi to pay off some credit card debt that I have.
Ryan
There are so many in the mortgage industry that are supposed to be in the know who say that refinance activity is dead and if you are not doing purchase business then you better find a new profession. They have no clue.
The refinance activity is still running at 40% of my mortgage practice, so I’m not paying much attention to all the prognosticators.
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