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Why is it bad to do a 100 percent refinance?

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βˆ™ 2006-07-28 18:52:09

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If you refinance and you don't have enough equity in your home, then you are paying refinance fees and adding to your debt, plus your house isn't worth what you are paying so there is more liability to the bank. Banks don't like to take risks on the owner defaulting since they rarely get what the house is worth if they have to foreclose.

2006-07-28 18:52:09
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