Mr Mortgage - ‘Short-Refinances’ Gaining Popularity..

"I have heard of some great deals out there, such as balances being cut in half . Just recently I was told by a friend of a big-named national bank lowering the rates on a primary and second home Home Equity Line of Credit for the same borrower to 3.45% fixed. These were $240k and $150k loans respectively! That is a big savings. I can’t tell you the name of the bank but they have $84 billion in 2nds on their balance sheet…you figure it out."