Home Equity Loan/ line of credit
What are the payback terms on these?
Are they more like mortgages 10, 15, 30 or are they more like a car loan???
We got royally screwed by our former broker with a larger prepayment penalty on our mortgage with our three year arm. We are talking about it costing us 10,000 in penalties just to refi. There wasen't anything in our note about it but he snuck in a rider at the end and that is what screwed us.
So I would love to refi and get rid of the arm since we recently found out we will be here longer then expected. We thought my husband would have had orders before three years but now we found out the USAF will most likely keep us here pretty long.
Thanks in advance
Are they more like mortgages 10, 15, 30 or are they more like a car loan???
We got royally screwed by our former broker with a larger prepayment penalty on our mortgage with our three year arm. We are talking about it costing us 10,000 in penalties just to refi. There wasen't anything in our note about it but he snuck in a rider at the end and that is what screwed us.
So I would love to refi and get rid of the arm since we recently found out we will be here longer then expected. We thought my husband would have had orders before three years but now we found out the USAF will most likely keep us here pretty long.
Thanks in advance
