Refinancing a Mortgage
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Refinancing a Mortgage
| 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!
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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I think it's an easy trap to fall into, and I think it's very common these days. There have been numerous articles about how the media (particularly television) has shaped people's perceptions of lifestyle.
And so many people live in debt these days, there's no way of knowing if your anyone really can afford the lifestyle that "everyone" is living.
For the record, I was just trying to find some ways for you to make extra income (i.e. the basement).
Mondo
I also have to get back on track with spending and I know I can do it. I have always pretty much been frugal with my money but I guess since we had our 2nd child, we went over the edge with spending and withdrawing out of checking account more than we thought we were.
Sometimes you have to hit rock bottom before you do anything about it.
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