It seems like just about everyone refinanced in the past 3 years. If someone refinanced in 2012 or previous, chances are they probably refinanced AGAIN in 2013 because - really - who would pass up an interest rate of under 4%? They were record lows, and everyone kept saying, "we'll never see them come down this low again..."
For some of us, there was not enough equity in our homes, and to refinance at 80% LTV or less meant forking over large chunks of cash to bring the equity under 80% to make it workable. Some people were still reeling from credit issues, short sales, foreclosures from the crash in 2007 and beyond.
It wasn't a perfect storm for everyone to be able to take advantage of the low rates. But now, equity is on the rise, plus the rates have been coming down in the past several weeks.
If you didn't refinance in the last 9 months, for whatever reason, take a look at the possibilities again. The equity may be in your property now. Perhaps a credit snafu is now cleared up. It's possible the value of your property has increased substantially to allow you to refinance under 80% LTV.
Possibilities abound. So jump on board and find out what the possibilities are. I'd be happy to show you how you can save money!
