I'm pleased to announce that back in April I was contacted by Wells Fargo; they offered me a 4% no costs loan. At that time I had a 5.875% on 392,680.04 which was a payment of 2,466.71. After signing a credit report release and an application the process was started. A week after visiting my local branch, I was contacted by WF wanting to verify the data provided on the application; salary; dates of employment. After a few weeks I received a few more forms that required signatures and for me to fax them back, which I did. In mind May, I finally received my packet which needed to be signed and some pages notarized! As of 5/31 my previous loan was paid off and now my payment has been reduced to $1,874.80! That's a savings of close to $600!!!
FYI: Apparently since I was converted from Contractor to Regular employee less than 6 months prior the application was delayed since I needed to have 6 months of continuous income. This made zero sense to me since I had been a contractor at the same company for 10 years receiving "continuous" income.
Now, it's time to see what can be done with the second HELOC.
THANK YOU GUYS and GOOD LUCK TO ALL!