Cash-In Refinancing for your Carpinteria, Goleta or Santa Barbara Area Home
Here is a great article by Tom Royce regarding Cash-In Refinancing. With interest rates as low as they currently are, this might be an option for a few people here in the Carpinteria, Goleta and Santa Barbara areas. "If you are underwater on your present mortgage you probably think refinancing is insane. But with the low interest rates available for homeowners with good credit it may make sense. What is Cash In Refinancing? Cash in Refinancing is the cousin of cash out refinancing that was all the rage in the early part of the century. With cash out refinancing you would refinance your mortgage to get money out of it to spend on other things. With cash in refinancing you reverse the trend. Typically done by people who are slightly upside down on their mortgage, those that are doing a cash in refinance of their mortgage bring money to the table in exchange for getting a much better rate on their mortgage and saving money in the long run. Who Would Do This? Surprisingly, according to a report from Freddie Mac, 18 percent of refinances done in the first quarter of 2010 were cash in’s. If you are planning on staying in your home for the long term, the math makes sense. Lowering your interest rate will more than pay back your re-investment into the home. This especially makes sense if you have money sitting in a low interest savings account or an investment that you want to liquidate." Further Reading:
- Google and Real Estate Search do not Quite Get IT!
- Sotheby's Int'l Realty - Santa Barbara and Montecito
- Is My Realtor a Santa Barbara Neighborhood Specialist?
- Is Zillow's Zestimate a Reliable Guide to your Santa Barbara Home's Value?
- Working with a Blogging Realtor - Advantages
- Are Trulia and Zillow the Best Place to Search for Santa Barbara Real Estate?
For information on Real Estate here in Santa Barbara, Montecito and/or our surrounding areas, as well as any other aspects of life in our area, please don’t hesitate to contact Kevin Schmidtchen at Sotheby’s Int’l Realty. Thank you for reading. I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts. Subscribe to Receive Personal Listings of Santa Barbara Real Estate Search The Santa Barbara Area MLS