{"id":15854,"date":"2008-12-24T11:31:39","date_gmt":"2008-12-24T11:31:39","guid":{"rendered":"http:\/\/therealestatemango.com\/2008\/12\/24\/aventura-real-estateshould-i-refinance-now\/"},"modified":"2019-04-23T20:56:50","modified_gmt":"2019-04-23T20:56:50","slug":"aventura-real-estateshould-i-refinance-now","status":"publish","type":"post","link":"https:\/\/ewmrealestate.com\/blog\/aventura-real-estateshould-i-refinance-now\/","title":{"rendered":"The Facts About Refinancing"},"content":{"rendered":"<p>Wells Fargo announed last week that interest rates are at their lowest since <strong>1971.\u00a0 <\/strong>This is an historic moment in the history of mortgage rates.\u00a0 They dropped last week to <strong>5.19% <\/strong>fom 5.47%.<\/p>\n<p><strong>Want to refinance?\u00a0 Check this out:<\/strong><\/p>\n<ul>\n<li><strong>If your closing costs are $3000 and your payment goes from $1200 a month to $1075 a month, it would take three years to break even. So it&#8217;s only worth it, if you plan on living in that house longer than that.<\/strong><\/li>\n<li><strong>The difference between a loan modification and a refinance is that the loan modification is only for the borrower who is behind in his payments. The refinance is a totally new loan with a length of 15 or 30 years.<\/strong><\/li>\n<li><strong>If your existing loan has a prepayment penalty, can you still refinance?\u00a0 Yes, if the lender will waive that penalty.\u00a0 Ask before you start any application.<\/strong><\/li>\n<\/ul>\n<p>Have any questions, <a title=\"Should I refinance, now?\" href=\"therealestatemango.com\/contact\" target=\"_self\" rel=\"noopener noreferrer\">email<\/a>\u00a0me or comment below.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Wells Fargo announed last week that interest rates are at their lowest since 1971.\u00a0 This is an historic moment in the history of mortgage rates.\u00a0 They dropped last week to 5.19% fom 5.47%. Want to refinance?\u00a0 Check this out: If your closing costs are $3000 and your payment goes from $1200 a month to $1075<\/p>\n<p class=\"more-link\"><a href=\"https:\/\/ewmrealestate.com\/blog\/aventura-real-estateshould-i-refinance-now\/\" class=\"themebutton2\">Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":130092,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_expiration-date-status":"","_expiration-date":0,"_expiration-date-type":"","_expiration-date-categories":[],"_expiration-date-options":[]},"categories":[11767],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Facts About Refinancing - BHHS EWM Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ewmrealestate.com\/blog\/aventura-real-estateshould-i-refinance-now\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Facts About Refinancing - BHHS EWM Realty\" \/>\n<meta property=\"og:description\" content=\"Wells Fargo announed last week that interest rates are at their lowest since 1971.\u00a0 This is an historic moment in the history of mortgage rates.\u00a0 They dropped last week to 5.19% fom 5.47%. Want to refinance?\u00a0 Check this out: If your closing costs are $3000 and your payment goes from $1200 a month to $1075Read More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ewmrealestate.com\/blog\/aventura-real-estateshould-i-refinance-now\/\" \/>\n<meta property=\"og:site_name\" content=\"BHHS EWM Realty\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/EWMRealtyInternational\" \/>\n<meta property=\"article:published_time\" content=\"2008-12-24T11:31:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-04-23T20:56:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ewmrealestate.com\/blog\/wp-content\/uploads\/2019\/06\/BHHS-On-Solid-Background.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"376\" \/>\n\t<meta property=\"og:image:height\" content=\"376\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Admin\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ewmrealestate.com\/blog\/aventura-real-estateshould-i-refinance-now\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/ewmrealestate.com\/blog\/aventura-real-estateshould-i-refinance-now\/\"},\"author\":{\"name\":\"Admin\",\"@id\":\"https:\/\/ewmrealestate.com\/blog\/#\/schema\/person\/c02e56ee015dc7d104143c38d8028970\"},\"headline\":\"The Facts About Refinancing\",\"datePublished\":\"2008-12-24T11:31:39+00:00\",\"dateModified\":\"2019-04-23T20:56:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ewmrealestate.com\/blog\/aventura-real-estateshould-i-refinance-now\/\"},\"wordCount\":151,\"publisher\":{\"@id\":\"https:\/\/ewmrealestate.com\/blog\/#organization\"},\"articleSection\":[\"EWM News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ewmrealestate.com\/blog\/aventura-real-estateshould-i-refinance-now\/\",\"url\":\"https:\/\/ewmrealestate.com\/blog\/aventura-real-estateshould-i-refinance-now\/\",\"name\":\"The Facts About Refinancing - 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