The more comprehensive and convincing a debt reduction program is, the less likely it is to fail. And remember, just as Germany is grateful to America for the Marshall Plan, Italy would be grateful to Germany for helping it lower its refinancing costs.— George Soros
Most Powerful Refinanced quotations
Refinancing doesn't reduce your debt, it just restructures it, so be clear about what you want to achieve with a refi.
Home ownership was the fig leaf for the rise in subprime lending.
But that was really about cash-out refinancings, not buying homes.
Homeowners who refinanced their mortgages took out cash and reduced their monthly payments at the same time. Much of the cash obtained by refinancing was spent on consumer durables, home improvements and the like.
Well, you know, we've got a lot of stimulus in the economy already from the tax cut, from the lowered interest rates, and also from the refinancing of mortgages.
Refinancing your mortgage usually makes sense if you can lower your interest rate by at least two points. But the most important question to ask yourself is, how long will it take you to break even?
No loan is free. The costs are in your loan somewhere, maybe rolled into the amount to be refinanced or even coming at a higher interest rate.
Google's AdWords, they allow you to bid on words that people will type into the search engine, and they cost more or less. For example, I think mortgage refinancing can cost - now, it's probably hundreds, maybe thousands of dollars. So, in other words, they are allowing you to bid on what people are going to type, and that is the AdWords program. So you own certain terms, and then your ads show up as opposed to someone else's.
A consolidation makes sense only if you can lower your overall interest rate.
Many people consolidate by taking out a home equity line loan or home equity line of credit (HELOC), refinancing a mortgage, or taking out a personal loan. They then use this cheaper debt to pay off more expensive debt, most frequently credit card loans, but also auto loans, private student loans, or other debt.
Refinancing won't fix everything that's broken with our [American] higher education system. We've got to bring down the cost of college. And we need more accountability for how schools spend federal dollars.