Mortgage Watch

My house (in Northern Virginia) has climbed significantly in the last few months.  Check and keep an eye on your home value if you were looking to refinance.  I keep watching because my house has been underwater for quite some time and with the price climbing coupled with paying down my mortgage a bit faster, I may be able to qualify for refinancing at a lower rate.

Also rates have lowered lately.  I’ve kept an eye on them at Suntrust but you can go to BankRate also if you choose.   If I can refi for 4.75% or even 4.5% with points, I may be tempted to do so.  Then use the extra savings to continue paying down my 2nd mortgage.  I’m drooling over the possible savings.

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