by 3 hours ago
ANSWERS: 2
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I doubt it. Generally, refinancing is for a house you plan to stay in for several more years. Otherwise, you won't have time to recover the cost. Saddened, that's why I used the terms "doubt" and "generally". My answer is entirely true because it internally allows that it might not be entirely true.
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If you live in an area were you may not be able to sell your house fast. but you still want to move. you may want to refinance and have the cash in hand to make a down payment on a new home while you are waiting for your old house to sell. then when it sells if any more equity has accumulated you will get an extra bit of cash when it indeed sells and you can avoid high capital gains tax, in this manner. but every situation is different so first consult your lender of choice to see if this is in fact in your best interest.good luck
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