Refinancing a Mortgage

iVillage Member
Registered: 04-27-2005
Refinancing a Mortgage
765
Fri, 08-12-2005 - 2:26pm
Can you refinance your mortgage if the rate is not lower than the one you have now? How would that work?
Our original mortgage was 7.5%, we refinanced a few years ago down to 5.25%. I was telling a woman on one of my other message boards about how I was thinking of taking a cash advance from my discover card to clean up my checking and savings account and she said I could refinance. Is that possible?
Thanks!

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iVillage Member
Registered: 04-27-2005
Sun, 08-14-2005 - 5:39pm
My daughter is 7 and my son is 2. My house is also not very big to have a party in. I have wanted to do that several times but figured it would be cheaper to do it elsewhere.
iVillage Member
Registered: 04-27-2005
Sun, 08-14-2005 - 5:42pm
That is YOUR opinion. Maybe I feel someone can live without jewerly or expensive shoes or vacations and they don't agree with that. Why because YOU can live without it, I should?
iVillage Member
Registered: 07-01-2005
Sun, 08-14-2005 - 5:43pm

Understood, of course,

Promise yourself to be strong so that nothing can disturb your peace of mind-  Christian Larson

 

~aka~

iVillage Member
Registered: 04-27-2005
Sun, 08-14-2005 - 5:44pm
No, I am not trying to be funny. It is a fact of life if necesseties are cheaper and you are making the same amount of money where it was more expensive, you have more money to save or pay your existing bills. Florida does not take out certain taxes from their paychecks (state, I think?) which makes your paycheck larger. THAT is the truth. We are taxed to the hilt here.
The root is NOT where I live but it does make a difference when our bills go up faster than our paychecks. Did your school taxes go up 18% this year? Well, that is what they wanted to do to us.
iVillage Member
Registered: 04-27-2005
Sun, 08-14-2005 - 5:50pm
I am not saying how everyone else is living. I am just stating facts how much things cost. Someone suggested I put an apartment in my basement. Well, that costs money. I just stated that "bouncy" things cost more in different parts of the country. I have never rented one but I know plenty of people who have and never thought twice about it. It was for their kids.
I think you have to understand that in different parts of the county, people live differently. I have stated that before. One situation I was thinking was weddings. It is very expensive here to go to a wedding. No, you don't have to give as much as everyone else, but it is expected for you to cover your plate. We don't give gifts, only cash. I know where my mom lives, they only have a "cocktail hour" and gift gifts and it only lasts an hour. Our weddings here have a shower, a bachelerette (or bacheler)-can't spell-sorry-party-a rehearsal dinner and then the 5 hour wedding. Wedding are very expensive. Especially if you are in one. Luckily we got out of the wedding scene many years ago, many before we were even married as it would cost us a fortune!
iVillage Member
Registered: 04-27-2005
Sun, 08-14-2005 - 5:53pm
I guess everyone ready my response wrong. I have never rented one and don't intent to. I was just stating a point that, that is the norm around me. I can not keep up with the "Jones", especially the ones who live around me. Those people are making at least double than us to live in the big houses that they do. I have learned through the years that I DO NOT want a bigger house because I don't want to clean anymore than I do now-lol!!
My parents only brought in one income and dressed us nicely, fed us well and always had a safe and happy home for us. That is my goal for my family. Yes, things were different than they are now, but I am trying to be as good parent as they were to me.
iVillage Member
Registered: 07-01-2005
Sun, 08-14-2005 - 5:54pm

Nope,

Promise yourself to be strong so that nothing can disturb your peace of mind-  Christian Larson

 

~aka~

iVillage Member
Registered: 04-27-2005
Sun, 08-14-2005 - 5:55pm
I pretty much has basic cable (only pay $4 month more for 2 movie stations). I do not have HBO, SHO or anything like that. My cable company is pretty much ridiculous when it comes to their price. They will add a channel one month, thinking you got something for free and then raise your bill another $5/month. They did this 3 times in one year.
iVillage Member
Registered: 04-27-2005
Sun, 08-14-2005 - 6:00pm
I don't mean to butt in, but this not hearsay. I know exactly what I am talking about. Someone mentioned that I should rent out my garage, or bedroom or basement. I was stating a fact that it cost my dh's cousin $10,000 years ago to finish up her basement to rent it out. I personally do not want anyone living in my house, not that I don't agree with it because I rented for 2 years in homes. I also don't see why I would do that and not reap the benefits for many, many years.
I DO know many people who have rented these bouncy things for parties, I have or never will but I know the prices.
I am not creating an existance on other people. I was just answering a question that was given to me.
I guess I will always just be wrong.
iVillage Member
Registered: 07-20-2004
Sun, 08-14-2005 - 6:04pm

<>

No. You should live without it because it's not a right and you can't afford it, based on YOUR descriptions of your income and your inability to meet your financial obligations without resorting to credit.

Karen

"A pocketknife is like a melody;
sharp in some places,
flat in others,
and really annoying when it's stuck in your head."

Karen

"A pocketknife is like a melody;
sharp in some places,

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