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: 06-27-1998
Sun, 08-14-2005 - 9:43pm

You keep mentioning taxes going up.

PumpkinAngel

iVillage Member
Registered: 04-27-2005
Sun, 08-14-2005 - 9:59pm
School taxes, home taxes.
iVillage Member
Registered: 09-04-1997
Sun, 08-14-2005 - 10:10pm
Who out there is actually going to curl up and die without television? Is there some new syndrome where if you don't get a certain number of viewing hours per week it's fatal? This is crazy. Human beings have walked the earth for millennia. TV has been around for about 70 years. Now all of a sudden humans are going to die if they don't have it? Evolution doesn't work that fast.
iVillage Member
Registered: 09-04-1997
Sun, 08-14-2005 - 10:12pm
You *should* live within your means. It means something is going to have to be cut. So far you have resisted every suggestion about WHAT to cut because you think you deserve stuff you can't afford.
iVillage Member
Registered: 06-27-1998
Sun, 08-14-2005 - 10:16pm

Are these people coming to a public internet board and asking for opinions and thoughts about how to reduce debt?

PumpkinAngel

iVillage Member
Registered: 03-26-2003
Sun, 08-14-2005 - 10:20pm
What a riot!

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iVillage Member
Registered: 06-27-1998
Sun, 08-14-2005 - 10:22pm

If they are asking ways to avoid refinancing at a higher rate or trying to make ends meet....yes you should.


PumpkinAngel

iVillage Member
Registered: 03-26-2003
Sun, 08-14-2005 - 10:39pm
Because I do not understand why someone would sell a low mileage, almost new car unless it were a lemon.

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iVillage Member
Registered: 06-27-1998
Sun, 08-14-2005 - 10:41pm

You pay school taxes direct, or are they buried in personal property?

PumpkinAngel

iVillage Member
Registered: 09-04-1997
Sun, 08-14-2005 - 10:46pm
Lots of people keep cars only a couple of years before selling. My first three cars were all used cars bought with around twenty thousand miles on them. I drove all three until they had well over 100,000 miles on them. Until I bought my van with its 0.9 percent financing, I had never made a car payment in my life, but that's because I never bought a new car until I could pay cash for it. If I couldn't pay cash for a new car, I would buy used again.

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