Quastion regarding mortgage refinance yearly

Since we bought our house, my mortgage agent called us regularlly once a year to refinance on lower rate. By the way, our loan is 30 years fixed. The agent asked me to pre sign application form and provide supporting materials such as pay slip, bank statements and the agent will keep them so that the agent can lock the rate when is low.

We did a few times, but is getting increasingly uncomforable after hearing too many mortgage fruads. Since we do not anything behind the mortgage finanace, we would like to know if there is any risk or pros/cons to follow the agent’s suggestion and refinance every year.

Thanks in advance

所有跟帖： 

• You are a gold mine to the agent -casinoeye- ♂ (251 bytes) () 12/12/2008 postreply 09:25:31

• There is "No fee" refinance. Agent gets $ -jin_yin_hua- ♀ (74 bytes) () 12/12/2008 postreply 10:44:20

• is there problem if it was zero cost refinance -cry55555- ♀ (30 bytes) () 12/12/2008 postreply 13:10:51

• The rate is not lowest for 0 cost. Be careful. I -jin_yin_hua- ♀ (174 bytes) () 12/12/2008 postreply 13:52:54

• unless the new rate is SIGNIFICANTLY lower and -mdgg- ♂ (174 bytes) () 12/12/2008 postreply 17:19:25