Refinanced House: Damn Happy!
09-23-2002, 09:13 PM
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Refinanced House: Damn Happy!
I just made my first new payment. I refinanced my house that I bought about 22 months ago. It went up about 35% in value duing that time, and now my payment is 19.5% lower than it was before. Pretty damn happy about that.
Anyone else do this with good results?
Anyone else do this with good results?
09-23-2002, 09:15 PM
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Cool so now what we doing with the boat Good deal bro you must be pumped. Now pay off the house faster and you will be all the better living free
Jon
Good deal bro you must be pumped. Now pay off the house faster and you will be all the better living free Jon
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09-23-2002, 09:20 PM
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Whens the next party at the 'ol Casa De Norty??? We need to do that again SOON!! Somemore BBQ...Lets get some Lobster this time....Oh, sorry, I mean, congrats on the new re-finance...Now take all that extra cash you're saving and plan the party!!!
09-23-2002, 09:23 PM
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dropped my interest rate almost 2.5%, had 26 years to go, now have a 15 year loan, payment the same!!!!!
09-23-2002, 09:28 PM
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Lobster I can bring them little faulkers. You know real live Maine lobsters!!! The ones that bite!!!!
Jon
Jon
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09-23-2002, 09:48 PM
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Great news. I'm doing the same but it's a interst only, fixed for 5 years for < 4%. Went from $1300 to $700. Now looking for a bigger house and use this one as a rental
09-23-2002, 11:51 PM
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I just closed on my re-finance today. It went great, from a 30yr to a 15 yr that's at a .875% point lower, and my payment went down $75. I've been in the house 5 yrs and paid 2-300 per mth extra every month, and I always have thrown my tax returns at the principal. Now IF I continue to do that same payment (that's a big IF) I should be all done paying for it in 6 or 7 years. Well, at least that's the theory, screw the write off's, I'll just get a big cat!
09-24-2002, 12:10 AM
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Just by making bi-weekly payments you can shave several years off your mortgage. Depending on principal and interest rate, if your payment was $1000 a month dollars for 30 years and you paid $500 every 2 weeks you would have it paid off in approximately 22 years.
09-24-2002, 07:01 AM
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advantage rob
thats correct , which would you rather have, no mortgage payments or an interest write off?
thats correct , which would you rather have, no mortgage payments or an interest write off?
