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: 07-20-2004
Sun, 08-14-2005 - 6:08pm
Cable, even basic, isn't a right you "deserve"; it's a luxury you have to be able to afford. You can't meet basic obligations because you're so busy funding frivolous things--like basic cable. when you get over your sense of entitlement, you might have a chance of getting ahead, but not until then.

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,
iVillage Member
Registered: 04-27-2005
Sun, 08-14-2005 - 6:12pm
Then I should be able to tell someone that they should stop smoking because "I" think that is a waste of money?
iVillage Member
Registered: 07-01-2005
Sun, 08-14-2005 - 6:13pm

It would be a b-day gift

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 - 6:15pm
I don't want to sound mean to the person who suggested it , but I have to agree with you.
iVillage Member
Registered: 07-20-2004
Sun, 08-14-2005 - 6:20pm

If someone who smokes came to this board and asked for ways to control her debt, i think it would be VERY appropriate to point out that her cigarette habit was costing her a bundle. So yes.

Why? do you know someone on this board who smokes, can't manage her finances and needs an objective opinion about the expense of her habit?

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,
iVillage Member
Registered: 07-20-2004
Sun, 08-14-2005 - 6:23pm
And that's why you havve a debt load and the woman who suggested it does not. I'm sure she's crying all the way to the bank over the fact that you didn't like her idea. I'm sure, when she can retire and you're still working because your savings paid for the stuff you thought you needed, she will be heartbroken that you found her idea unworthy of you.

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,
iVillage Member
Registered: 04-27-2005
Sun, 08-14-2005 - 6:26pm
No, do you? I have never smoked in my life and have no intention of ever starting. Smoking, drinking, drugs and gambling are a HUGE waste of money.
iVillage Member
Registered: 04-27-2005
Sun, 08-14-2005 - 6:28pm
Obviously she has a very tight budget. That doesn't mean she will retire and I won't. How do you know if she even contributes to a 401K plan. I have been saving for 10 years so far and don't plan to stop. 401K's are VERY important in life. Some people don't understand that.
iVillage Member
Registered: 07-01-2005
Sun, 08-14-2005 - 6:34pm

Your welcome to butt in when ever you'd like...imo comparing yourself to others and apologizing for it

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 - 6:39pm
Thanks. I will have to try and take your advice.

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