OT..... Mortgage/Loan Question
#1
OT..... Mortgage/Loan Question
I got a letter in the mail about COFI loans....
Does anyone know about these loans?
Is what the letter says too good to be true?
Should I just throw the letter away and keep paying my mortgage?
Does anyone know about these loans?
Is what the letter says too good to be true?
Should I just throw the letter away and keep paying my mortgage?
__________________
You are judged by the company you keep!
You are judged by the company you keep!
#4
Registered
Re: OT..... Mortgage/Loan Question
Originally posted by Speed Girl
I got a letter in the mail about COFI loans....
Does anyone know about these loans?
Is what the letter says too good to be true?
Should I just throw the letter away and keep paying my mortgage?
I got a letter in the mail about COFI loans....
Does anyone know about these loans?
Is what the letter says too good to be true?
Should I just throw the letter away and keep paying my mortgage?
#5
Registered
I would stay away from that loan but I could do an analysis for you to see if it makes sence for you to refi, with rates the way they are it may make sence, depending were you are at now.
#6
Platinum Member
Platinum Member
Join Date: Nov 2000
Location: Greenwich CT USA
Posts: 192
Likes: 0
Received 0 Likes
on
0 Posts
COFI (Cost Of Funds Index) is an index average of the 11th District cost of funds to banks. It is a lgging index as compared to Treasuries. These programs are typically short term ARMs (1 month or 3 month)> I have some interesting variations of these, however they are tires to LIBOR and the MTA indexes. Give me a call if you would like o discuss these options as they are not for everyone.
Marcus Z 800-711-5394
Marcus Z 800-711-5394