Refinance offer - pls. help evaluate -- urgent! guy says:"rate expires tom'w" "$
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so hard to sort this out: PLEASE help with opinion, advice, etc.: his calculations:
outstanding loan amt: $271, 363
current amex debt: $9155; he suggests paying $275/month
discover card debt: $10,960; pay $213/mo.
another amex: $3,282; pay 109/mo. 36 mos@12%
a 3rd (!) amex: $6113; pay $203/mo.36 mos@12%
total cards to consolidate: $29,510
total debt consolidated: $300,873
closing costs $11,000; loan total $311,873 @ 6% 30-yr. fixed; monthly paymt. (before taxes) $1870
have been in house abt. 10 yrs.; loan amt. was $300,000 from another earlier refinance. house worth ca.600k
credit score 715; live in NY; single borrower on loan since spouse has bad credit & the cc debt...)will stay in house ca. 7 more yrs. getting pressure bec. broker says "it's the smartest and quickest way to resolve your situation"
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would REALLY be grateful for nice number-crunchers out there to advise us, tell us what you'd say to us if you could, etc. It's stressful & marriage-wrecking. thank you
Refinance offer - pls. help evaluate -- urgent! guy says:"rate expires tom'w" "$11k closing costs are fixed"My main question is why is there $11,000 in closing costs? That seems very high for this loan. Otherwise, the rest of th eterms seem fine.
Also, you make it hard to evaluate because you either don't give interest rates and required payments for all of your debts.
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