What a paperwork nightmare. The bank dragged it on for five months. But it will be worth it. No points no fees and we we from a 30 year fixed at 5.125% for 500k to 4.5% 30 year fixed on the same amount. Way cool
30 year fixed? aren't you older than dirt?What a paperwork nightmare. The bank dragged it on for five months. But it will be worth it. No points no fees and we we from a 30 year fixed at 5.125% for 500k to 4.5% 30 year fixed on the same amount. Way cool
but i bet he doesn't have 28 more years on his mortgage...jbp created dirt....
We refi'd ~13 months after buying our house, and the $120/month we've saved since has been WELL worth it. Then again, we plan on living in our house for the next 30 years, so...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.
but i bet he doesn't have 28 more years on his mortgage...
No closing costs or anything? sweet! Why 5 months can I ask?What a paperwork nightmare. The bank dragged it on for five months. But it will be worth it. No points no fees and we we from a 30 year fixed at 5.125% for 500k to 4.5% 30 year fixed on the same amount. Way cool
Bank kept deciding they needed more information. funny thing is they are the original lender. Then again it is B of A freakin incompetent employeesNo closing costs or anything? sweet! Why 5 months can I ask?
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...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.
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. If lenders had been practicing that kind of due diligence in the first place we wouldn't be where we are now.Bank kept deciding they needed more information. funny thing is they are the original lender. Then again it is B of A freakin incompetent employees
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%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. If lenders had been practicing that kind of due diligence in the first place we wouldn't be where we are now.
Go for a third, it is a great time to buy.We're in the process of a refi on both homes. It's a pain in the ass!!!!
This is the saddest story I've ever heard. How has there not been a benefit concert for you yet? Where is Sally Struthers?We're in the process of a refi on both homes. It's a pain in the ass!!!!
I don;'t think one frowny face is enough......no-one should be kept from buying a third home in California.If I could I would.
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.I can't take any more!! Next you're going to tell me that your ski boat needs an oil change!!!!
housing prices are predicted to drop 5% this year and possibly next. it's a patient mans game now.Go for a third, it is a great time to buy.
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.
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.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!!
What is this thing you call a mortgage? Is it good to eat?but i bet he doesn't have 28 more years on his mortgage...
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.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!!
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.This is the saddest story I've ever heard. How has there not been a benefit concert for you yet? Where is Sally Struthers?
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.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.
Yep, I don't have a pool (nor want one). Plus his wife is a stay at home mom, that's huge!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 $$$ to swim around in like Scrooge McDuck. That’s what I do.
You'd be at the tail end of a 100 year mortgage.What is this thing you call a mortgage? Is it good to eat?
Ah that was true when I was a contractor at a large company. How things change.Don't let MMike fool you. Nobody rolls in cash the way someone making a career in Aviation rolls in cash. Id bet MMike bought the house with the pool just so he could fill the pool with $$$ to swim around in like Scrooge McDuck. Thats what I do.
And here I thought it was from all of the Karpiels and Hopes you were selling.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.
With the big jump in fuel prices, now a lot of stations are allowing $100 on a debit card.Brian, are you still mad about the pumps not dispensing more than $75 of fuel at a time?