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clarkenstein

Monkey
Nov 28, 2008
244
0
nice - that's a great rate. hell, historically speaking that 5.125% you were paying was a great rate.

i wish i could do a 15yr, but housing costs mixed with stupid high property taxes in my area (central dirty jerz) make it impossible to get a reasonable monthly payment. i wish i could find a state that has jobs and low property taxes. we're considering colorado, but i know nuthin about the place other than it has mountains.

coloradoes can haz mountainz.
 

ALEXIS_DH

Tirelessly Awesome
Jan 30, 2003
5,442
235
Lima, Peru, Peru
30 year mortgage?.. damn... am thinking of buying an appartment, and anything over a 5 year mortgage scares the **** of me......
ill try to buy the cheapest place i can live in, though.... :D
 

CrabJoe StretchPants

Reincarnated Crab Walking Head Spinning Bruce Dick
Nov 30, 2003
11,576
432
Groton, MA
I probably could/should refinance, but I can't bring myself to go through all the hassle/wasted costs for a minimal savings so soon after closing on my house.
 

jimmydean

The Official Meat of Ridemonkey
Sep 10, 2001
30,451
3,377
Portland, OR
Nice! I pay month to month and can move whenever I feel like.

And if the water heater explodes, the owner covers the repair and my insurance covers the damage.
 

Pesqueeb

bicycle in airplane hangar
Feb 2, 2007
29,685
5,124
Riding the baggage carousel.
We refied a couple years ago @ 4.375. Our 30 year loan dropped 200 some bucks a month, but were still making our old payment which means were paid off in about 13 years. Between the stupidly low rate and the fact that our house is now worth less than we paid I think were staying for good, I'm not willing to take the financial hit, or give up the thought of having no mortgage when I'm 45.
 

dante

Unabomber
Feb 13, 2004
8,814
8
looking for classic NE singletrack
We refied a couple years ago @ 4.375. Our 30 year loan dropped 200 some bucks a month, but were still making our old payment which means were paid off in about 13 years. Between the stupidly low rate and the fact that our house is now worth less than we paid I think were staying for good, I'm not willing to take the financial hit, or give up the thought of having no mortgage when I'm 45.
We took the opposite approach - Once we got down to 5% even, we just started making the minimum payment and banking the rest. We *had* been able to make far more than the 5% on a combination of dividend-paying stock funds and corporate bond funds. Now that everything is grinding closer to 0%, I'm hoping for inflation to buoy that at some point. I mean, mid 00s we were getting 5.5%+ interest just on a normal savings account...
 

Pesqueeb

bicycle in airplane hangar
Feb 2, 2007
29,685
5,124
Riding the baggage carousel.
Bank kept deciding they needed more information. funny thing is they are the original lender. Then again it is B of A:rant: freakin incompetent employees
When did you get your original loan? If its been within the last ten years what probably happened is that BAC didn't care about your information because real estate was HOT HOT HOT and it could never, ever possibly come down. :rolleyes: If lenders had been practicing that kind of due diligence in the first place we wouldn't be where we are now.
 

eric strt6

Resident Curmudgeon
Sep 8, 2001
15,479
4,815
directly above the center of the earth
When did you get your original loan? If its been within the last ten years what probably happened is that BAC didn't care about your information because real estate was HOT HOT HOT and it could never, ever possibly come down. :rolleyes: If lenders had been practicing that kind of due diligence in the first place we wouldn't be where we are now.
lol original was Wells, 1st refi less than a year ago was B of A. then the Gov mandated through a program that they offer another refi so we jumped on it. This makes 2 refis in one year. total drop in interest is 1.5%:weee:
 

MMike

A fowl peckerwood.
Sep 5, 2001
18,222
85
just sittin' here drinkin' scotch
Actually I had the oil changed in the boat last summer, so it should be good to go for this season. However, the boat trailer needs new tires.

You are limited A million dollar first home, a second home at Tahoe, ski boat with year old oil, and a trailer in need of new tires.......there is no emoticon for what I am feeling. What kind of god would allow this?

I am weeping openly. I am. You sir are a hero. How you face such adversity with such unmatched class.....I am speechless.

i will be lighting a candle for you tonight. Your wife's money might not last forever. I don't even want to THINK about that happening!!
 

stoney

Part of the unwashed, middle-American horde
Jul 26, 2006
15,166
1,835
Colorado
You are limited A million dollar first home, a second home at Tahoe, ski boat with year old oil, and a trailer in need of new tires.......there is no emoticon for what I am feeling. What kind of god would allow this?

I am weeping openly. I am. You sir are a hero. How you face such adversity with such unmatched class.....I am speechless.

i will be lighting a candle for you tonight. Your wife's money might not last forever. I don't even want to THINK about that happening!!
To expand on MMike's feelings, Brian is living a life that few I know in the Bay Area can live. There must be a money well under one of his houses.
 

Brian HCM#1

MMMMMMMMM BEER!!!!!!!!!!
Sep 7, 2001
31,653
80
Bay Area, California
You are limited A million dollar first home, a second home at Tahoe, ski boat with year old oil, and a trailer in need of new tires.......there is no emoticon for what I am feeling. What kind of god would allow this?

I am weeping openly. I am. You sir are a hero. How you face such adversity with such unmatched class.....I am speechless.

i will be lighting a candle for you tonight. Your wife's money might not last forever. I don't even want to THINK about that happening!!
FYI, My wife and I made about the for the last 15+ years, she recently got a raise. So yes as of this moment she is making more than me. Then again it depends on my side projects.
 

Brian HCM#1

MMMMMMMMM BEER!!!!!!!!!!
Sep 7, 2001
31,653
80
Bay Area, California
This is the saddest story I've ever heard. How has there not been a benefit concert for you yet? Where is Sally Struthers?
I'm waiting for her. The problem is your companies helicopters aren't powerful enough to move her. And if it could, your boss wouldn't allow you to Air-waitress for anyone else but him.
 

Brian HCM#1

MMMMMMMMM BEER!!!!!!!!!!
Sep 7, 2001
31,653
80
Bay Area, California
To expand on MMike's feelings, Brian is living a life that few I know in the Bay Area can live. There must be a money well under one of his houses.
Come on Mark, you know how life is in the Bay Area. I made some investments back in the dot-com boom that paid off (before I was married), as well as cashing in big when we sold our last house in 2006. I live a modest lifestyle, don't drive new fancy cars. For a matter of fact, we're still driving the same 02 Denali & my 01 Silverado 4x4. I own my Tahoe place with my sister-in-law. It's a vacation-rental property that is always in the negative, we bought it when we had a next to nothing mortgage. Blah blah blah I can go on. Anyways, I was just commenting on how difficult it is to refi these days even with good established credit.
 

Pesqueeb

bicycle in airplane hangar
Feb 2, 2007
29,685
5,124
Riding the baggage carousel.
Don't let MMike fool you. Nobody rolls in cash the way someone making a career in Aviation rolls in cash. I’d bet MMike bought the house with the pool just so he could fill the pool with $$$ to swim around in like Scrooge McDuck. That’s what I do.
 

Brian HCM#1

MMMMMMMMM BEER!!!!!!!!!!
Sep 7, 2001
31,653
80
Bay Area, California
Don't let MMike fool you. Nobody rolls in cash the way someone making a career in Aviation rolls in cash. I’d bet MMike bought the house with the pool just so he could fill the pool with $$$ to swim around in like Scrooge McDuck. That’s what I do.
Yep, I don't have a pool (nor want one). Plus his wife is a stay at home mom, that's huge!:thumb:

I know it's difficult for people who have never lived in the SF Bay Area to understand the cost of living. I grew up here, so I'm used to it. It would be nice to have a mortgage a 1/3 of the cost, but we love where we live and wouldn't want to change it.
 

Toshi

Harbinger of Doom
Oct 23, 2001
28,223
2,532
Brian, are you still mad about the pumps not dispensing more than $75 of fuel at a time? :D
 

MMike

A fowl peckerwood.
Sep 5, 2001
18,222
85
just sittin' here drinkin' scotch
Don't let MMike fool you. Nobody rolls in cash the way someone making a career in Aviation rolls in cash. I’d bet MMike bought the house with the pool just so he could fill the pool with $$$ to swim around in like Scrooge McDuck. That’s what I do.
Ah that was true when I was a contractor at a large company. How things change.

Want to know how much private speech therapy is for autistic kids?
 

dante

Unabomber
Feb 13, 2004
8,814
8
looking for classic NE singletrack
Come on Mark, you know how life is in the Bay Area. I made some investments back in the dot-com boom that paid off (before I was married), as well as cashing in big when we sold our last house in 2006. I live a modest lifestyle, don't drive new fancy cars. For a matter of fact, we're still driving the same 02 Denali & my 01 Silverado 4x4. I own my Tahoe place with my sister-in-law. It's a vacation-rental property that is always in the negative, we bought it when we had a next to nothing mortgage. Blah blah blah I can go on. Anyways, I was just commenting on how difficult it is to refi these days even with good established credit.
And here I thought it was from all of the Karpiels and Hopes you were selling. :D