@Carlos Rovira Nice explanation!

@Ron S. great explanation from the institutional side of things.

I have still not been contacted by her, any other Sherman Bridge employee or had any courtesy response even to my email requesting status, explanation for additional delays, or most importantly....WHEN I CAN EVER EXPECT TO CLOSE MY REFINANCE!?!?!?

Obviously you could argue that a little more that would come back to you via taxes (~1-1.2k in most tax situations) but for sake of explanation I’m just trying to show that it shouldn’t be a fixed 2% that you plug into your calculations…Another reason I look at the 2% rule and chuckle a little is that while it may work in certain locations where the cost of ownership is low and maintenance is a much bigger percentage of the yearly picture it doesn’t hold up well under many areas.

These agents were not bringing me any income so I had to ask myself, why am I putting up with this, well, there was no good answer, I sent them the required release papers without explanation. 

Although it might not be the case for this particular note, one explanation for a higher principal balance could be that this would happen in a negative amortizing loan AKA pick-a-pay ...

@Upen Patel thank you much, that is an understandable explanation. 

We have applied for several place through 2 companies called dick stepkin reality and starr property management they have turned us down for every place we applied without a single explanation of why and its the same way with private owners.

if you think i'm wrong explain how i'm selling a property for another. you keep disagreeing with me, but you don't offer a logical explanation. i have people tell me all the time.

@Daniel Chang I can understand that and thanks for the explanation.