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Mortgage Strategies for the Inexperienced

Mike asked:


Why do you pay a subordination fee when refinancing, when your refinance does not include your home equity loan?

op_op_meister asked:


A few years ago, I received a Sallie Mae student loan for about $8000 with the understanding that the interest rate would be about 4%. To my dismay, I recently found out that this rate was not fixed, and my current rate is now just over 9% – more than double the original!

How does one go about refinancing a loan of this (small) size? Assuming my credit is good, what fixed rate can I expect to recieve?

Thanks in advance.

MJ asked:


we are in the process of refinancing our home & i recently submitted my contact info online & i’m receiving calls from many of the local lenders, Can anybody let me know if there are any risks associated with the small companies instead of going with big banks like Wells fargo , BOA or WaMu ..

Thank u in advance …