1) perhaps closing the 4.75% enables an upgrade of that mortgage within 12 months (the cell definition is enhanced at Fannie/Freddie and/or FHA and you can benefit–also, if you don’t close the 4.75 you cannot upgrade)
2) many in the US need the savings of $100/150 month. They can always cut back the amortization schedule at some point in the future.
3) the marketplace in the software encourages lower closing cost transactions without yield spread premium–the assumptions made on payback period is overstated–their transaction will be almost naked.

I was a cynic turned subscriber. Look closer at this software, it’s cheaper for them to do than for the homeowner to micromanager—they have developed a new discipline—independent mortgage management!

If an original note was 5.75% for a 30 year term and I am in year 5 of that term and I refinance the mortgage to 4.75 with a 30 year term, I will save approximately 100.00 a month on my payments and will recoup my refi costs in approximately 3 years. But I have also extended my term back to 30 years.

I believe that I would be much better served to accelerate the paydown of the principle amount, resulting in a decreased term.

Bob is definately all aboard with this venture. They are even sharing servers! Look where http://www.cringely.com redirect to!

I believe as technologies like Home-Account and AVMs become more efficient, not only are mortgage brokers an endangered specifies, but so are appraisers and mortgage underwriters.

What you owe on your mortgage, credit cards, car loans, your credit history and FICO scores; well those are all hard numbers and easy to verify. But what is your house worth? Or shall I say what would it appraise for? Well you may have a vastly different number in mind and your house (especially now) may not appraise for nearly what you think its worth. So how does home-account verify this if you are in the mind set to try and refi or purchase? The refi or purchase of a home always comes down to the appraisal and all the other numbers (down payment, LTV ratio, ect.) will be based on the opinion of that appraiser at that specific point in time.

For a refi if you are shoulder deep in equity then the appraisal will no doubt not have the same meaning (or criticality) then if you are in a situation where a $25,000 difference in the appraisal vs. your home price opinion would mean the difference between a go/no go situation.

So how can this system prepackage and approve a loan or refi when the one variable, the current home market price (appraisal) is not truly known until the appraisal comes in?

How does Home-Account compare to the Money Merge Account (MMA) over at uFirst (http://www.theinterestexterminator.com/) ? Are they complimentary or competitive?

I had uFirst run their analysis and they claim to be able to get me out of debt (mortgage, student loan, car loan, etc.) within 14 years by calculating when and how much to pay on which bills (including loans) without living paycheck-to-paycheck or severely crippling my ability to “go out” once in awhile. All I have to do is follow the prompts and update their web-based software whenever a transaction occurs. While I have a degree in Physics and have done rocket science (NASA Kennedy & Johnson Space Centers) I am having trouble following the money trail.

I have followed your exploits for a lot of years and would really like your feedback. Thoughts?