Hi Paul,
I have attached the new estimates below, with rolling in all costs you are
saving about $100 per month including the first and second mortgages,
which is substantial.   At this point you probably have quite a bit in your
escrow account, tax bills go out November 1 and insurance is due October 1.
If you reduce your loan amount by these amounts and pay for them at closing
out of pocket you will reduce it even more.  The catch is that you won't
receive this money back from your current until probably 5 weeks after
closing.  It's up to you whether you want to "pocket" that money by having
rolled it into the loan amount or reimburse the out of pocket money from
this closing by not having rolled it into the loan amount.  It can be
confusing so let me know if you have any questions.
(See attached file: thomas paul refi gfe.xls)
Linda Rhoden
Sr. Loan Officer
RMC Vanguard Mortgage Corp.
888.852.7645 ext. 6025 toll free
713.802.6025 direct line
713.802.6035 direct fax
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 - thomas paul refi gfe.xls