Refinancing a Mortgage
Find a Conversation
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!

Pages
I'm surprised no one has mentioned that these days, a lot of almost new used cars are coming off of leases.
I bought my 1996 minivan used. It had been a corporate car for a year. Some used cars are coming from corporate situations rather than individuals. Corporations have their reasons for wanting new vehicles each year.
In my area, there are so many "over the top" parties that it is actually refreshing to go to the more low-key backyard cake and ice cream parties. And it isn't always about money. I have some (relatively) wealthy friends who just love to throw the simple kind of party because they are sick of the commercialization of childhood.
One of my friends with way too much money wanted to throw her daughter a fairy tea party. She had each one of her dd's friends over for a playdate over the course of a month, measured them, and sewed fairy dresses for each. (Probably nine or ten girls.) Then she sent out embossed invitations for each girl and her mother. The party was at her home and was very lovely. The girls were upstairs getting dressed and an older sister put glitter make-up on them. The moms (all wearing sundresses and hats) lingered downstairs and enjoyed fruit, quiche, and other refreshments. Then the little girls came down, sang a song for us, and flitted around in their dresses. It was so simple and so adorable and old fashioned. It was the kind of party that could have been done for almost nothing really (if you asked the girls to wear their own costume.)
I guess I don't know what is so bad about simple.
I can think of many reasons people would sell a car they've only had a few years.
In addition to the obvious reason of instant gratification and wanting the *newest/latest* cool car, there is the possibility that they are moving, just had a child and need a bigger car, got divorced and want a smaller car, changed jobs that require a commute so they need an economical car, lost their job so they can no longer afford a car payment, etc.
There are plenty of valid reasons that people would get rid of a fairly new car. They do it every day.
Dj
"Now when I need help, I look in the mirror" ~Kanye West~
My one question to everyone is, do you think I am the only person who owes money who has cable or other things that you consider "luxuries"? I am not in any way comparing myself to other people but just wondered why you think I am the only one around who has bills.
Is everyone a SAHM that is able to not wear makeup and buy casual clothes? I'm not, I work and have to look presentable at work.
Does everyone here do their families bills or does their husband? Do you know if he is doing them correctly? I would hope everyone communicates with their husbands about money but some people don't and don't have a clue they are in debt until a spouse dies or leaves.
I don't disagree with most of the party ideas. They all sound great. This year is said and done though already so there is no changing of that but I do still have one more child so we will probably use some of those ideas. Yes, some parents go out of hand, especially one of our friends who spent over $600 at the same park we are going to. She had over 30 kids and used the park for the party. That is insane.
Everybody is coming at me, but I did ask some questions to some people and never got responses. Maybe because they had no answers either.
And how long did you finance them for, and how much are your payments? If you financed almost the full amount on your 2004 jetta (I'm assuming you werent able to afford much of a downpayment) for 6 years, your payment is over $300 a month. Which is a lot. Plus I am sure you are required by your lending institution to carry full coverage insurance on both vehicles, which is probably costing you at least an extra $100 a month.
Getting rid of at least one of those car payments would make the most sense as far as cutting your expenses.
Dj
"Now when I need help, I look in the mirror" ~Kanye West~
No, people were faulting you for the constant stream of excuses you made about how you couldnt possibly take any of the advice given.
And your posts are fairly arrogant in their assumption that your situation is so unique and your col is so much more than the rest of the worlds, no one can possibly understand how *hard* your life is and no one has ever been where you are.
Dj
"Now when I need help, I look in the mirror" ~Kanye West~
I don't think everyone's situation is different. But it is for alot of people. Believe me, I know plenty of people in other states to compare prices.
Pages