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Cash-In Refinance. Nothin' New. Nothin' Revolutionary.
 
 
Cash in Refinance.  Nothin' New.  Nothin' Revolutionary. 
By Gene Mundt, Professional Mortgage Banker  -  Chicago Bancorp

     
     The concept of bringing "Cash In" to Closings of a Refinance is nothing new or revolutionary ... but it HAS become more common these days.            
     Why?       
     Home Values have declined in most U.S. housing market regions.  Yields on stocks, bonds, and other investments are dwindling ... and Mortgage Rates are hovering at, or under 5%.  (This last statement should be making those Americans looking to Buy a Home or Refinance salivate).       
     If any of the aforementioned scenarios apply to you as a Homeowner, you might presently be pondering "Cashing In" those investments that are yielding you a miserable rate of return and then utilizing those dollars to "Buy Down" your Mortgage Interest Rate, 1% or more.       
     This is a plan of action you might want to consider, especially if "Buying Down" the Interest Rate is the deciding factor in making a Refinance of your Mortgage possible.         
      A "Buy Down" can prove beneficial to a homeowner in the following ways:  
By reducing the Mortgage Balance to qualify at ... more

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