refinance

7 good reasons for a mortgage refinance

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Some homeowners want to combine their first mortgage with the home equity line of credit.

"I'm seeing a lot of people, even if their rates on their home equity line of credit is 3 percent, refinancing to get rid of them," Becker says.

Why get rid of a loan with such a low rate?

"Because they're worried if five years from now, what if that rate jumps up to 12 (percent), 11 (percent), 13 percent?" Becker says.


 

 

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