rbynaker
Level 13
12-07-2019
12:00 AM
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Not sure this passes my sniff test. How are the loan proceeds spent?
It's not unheard of to still have a mortgage after 35 years but I would be sure you have documentation on what the loan proceeds were spent on. It's fine if it's just a straight refinance (i.e. to get a better rate) but my chronic refinancers tend to do things like pay off car loans, credit cards, etc.
Rick
It's not unheard of to still have a mortgage after 35 years but I would be sure you have documentation on what the loan proceeds were spent on. It's fine if it's just a straight refinance (i.e. to get a better rate) but my chronic refinancers tend to do things like pay off car loans, credit cards, etc.
Rick