refinance

United States
November 17, 2006 10:42am CST
we want to refinance home bought in may. interesst is now 8.35 credit is fair 630 offered to refinance at same interst. pay interst for 2 years fix credit, then refinance again at lower interst rate.closing 4500.00 . something like combo lloan. says we will save 700.00 + a month.
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