Just a few hours ago, Michael Grynbaum of the New York Times (NYT) describes “American’s confidence continuing to plunge this month, as their homes lose value at the fastest rate in two decades, according to reports released on Tuesday”. (Read the entire article here, the 2nd most widely emailed article on NYT’s website today)
Given the concerns around the housing slump, many users on LinkedIn have been asking these questions on LinkedIn Answers, which is our featured question for this week. Frank Sexton, Manager of Commerce & Development at National Hockey League and recent homeowner, wonders if he should look into refinancing given today’s housing market.
While a few answers asked for more details, and a few other agents recommended refinancing, here are a couple of answers that highlighted the pros and cons of refinancing with regards to Frank’s situation that may have helped him.