I just closed on a refinancing.

[bbinacan]

Rate is 2.25% lower than before and I dropped 6 years off the length of the mortgage. Hot Damn!!!:party: :toast: :bounce: :beer: :woohoo:

[mnhtnbb]

1. Congrats!

[bbinacan]

4. Thanks.

This will save me a ton.

[madmax]

2. Congratulations!!

:party: :toast:

[Oceansaway]

3. wooooohoooooo !!...nt

[alstephenson]

5. Who is/was your lender?

And how were they to work with?

[bbinacan]

6. JP Morgan Chase

They were great to work with.

[Subdivisions]

9. They are criminals. n/t

[bbinacan]

13. Really?

They've always done right by me.

[tinrobot]

7. I'm in month seven of a refinance

B of A keeps coming up with all sorts of new things to ask/demand of me. I swear they're tying to stall me.

If this round doesn't get me the refi, I'm shopping elsewhere. Any suggestions would be appreciated.

[MissB]

10. I went with my local credit union.

Started the process three weeks ago, expect to close on Dec. 10th. 3.25% for a 15 year. They'll hold the loan for the entire 15 years.

[HuckleB]

11. Our old mortgage was with BA.

Our financial adviser checked the rates for us, and we told BA that we were looking to refinance, and we told them the rates we had found. They kept coming back with rates 0.3 to 0.8 higher. We then checked with the mortgage broker we had used for our original loan and a refinance five years ago. She got us the rates our financial adviser had found.

Call a couple other banks, and maybe a couple local mortgage brokers to see what you can get. If you can get recs for local brokers, that's probably wise.

Good luck.

[bbinacan]

12. It took me about a month

with Chase.

[HuckleB]

8. We did the same recently.

It's great for us, and we couldn't pass the chance up.

However, it's bittersweet, because the reality is that this means the economy remains in the toilet. We've been lucky, so far, and we're still employed. Alas, it feels a bit like walking on the backs of others.

On the other hand, we're putting much less money in the hands of banking execs.