Save The Naugas! » Mortgage http://savethenaugas.com/blog Don't Hide, Come Stay at the Naugas Resort! Tue, 20 Jul 2010 15:55:24 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 A Second Look at Our Second Mortgage Refinancing http://savethenaugas.com/blog/2010/05/04/a-second-look-at-our-second-mortgage-refinancing/ http://savethenaugas.com/blog/2010/05/04/a-second-look-at-our-second-mortgage-refinancing/#comments Wed, 05 May 2010 00:48:43 +0000 admin http://savethenaugas.com/blog/?p=187
Not the Naugas, but a possible candidate for Second Mortgage Refinancing.

Not the Naugas Inn, But Maybe The Birds Want to Refinance their Second Mortgage Also?

As the Great Recession eases, things have been picking up at the Naugas. Our visitor count has been increasing, and we even hired another maid part-time. Counteracting that is the upcoming reset of our second mortgage, which will add a couple of thousand dollars a month to our monthly mortgage payment.

So, we have been looking into second mortgage refinancing. The local mortgage guy says we can refinance the second mortgage into a fixed-rate, and lock in some low interest rates for the next 20 years. He even says that our monthly payments will barely exceed what we pay now, and be much less than what we will be paying when the second mortgage resets.

So this low interest rate is generating a high rate of interest around here!

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