6 ms·
This will be exacerbated by the low mortgage rates which most homeowners are locked in for the next 20+ years. There should be a way to negotiate with the lende
by jj20cf 4y ago
This will be exacerbated by the low mortgage rates which most homeowners are locked in for the next 20+ years. There should be a way to negotiate with the lender holding my mortgage to let me move it to another house for some increase in basis points which would result in a win-win for both sides.
- cloverich 4y agoI think there is a way to do this? I'm not sure what it is called or how common it is, but we've been house hunting and one of the local Agent's brought it up.
- Nifty3929 4y agoThis is a great point! However I'm not sure about your proposed solution. You'd have to give up a fair bit of the difference in interest rate to incent the banks to agree to this. There would likely be a selection bias that most of the people who would take advantage of it were going to sell anyway, and now the bank is stuck carrying a sub-market-rate loan they otherwise would have gotten out of.