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Holy poo interest rates are low right now...

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Posted

that one is a little better but there's absolutely no way we can sell right now..we'd have to rent if we wanted to move. ...and renting scares the sh*t out of me..

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Posted

trulia has my 3-BR listed as a 4-BR and it's comparables are $30k higher than my house's astronomical tax value.

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Posted

"good debt" i.e. student loans, mortgage, etc.... Is a misconception, there is no such thing as good debt. That is a word made up by credit companies. Screw a credit score. If you are debt free, have no bills, everything you make will goto your pocket (or to hookers and blow)

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Posted

trulia has my 3-BR listed as a 4-BR and it's comparables are $30k higher than my house's astronomical tax value.

Has the townhome I just bought almost spot on.

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Posted

I just re-fied my mortgage last week from 4.75% to 3.625%. Saves me $105 on my minimum payment.

Anybody paying ahead on their mortgage? Have a plan to pay it off early? What is it? I have a plan where I increase my monthly payment by $50/year. Seems to be working great so far. My goal is to be mortgage-free by the time my daughter enters college (2028, 19 years from origination).

Home values seem to be sinking again. Checked zillow yesterday and from december to january my house value dropped 3.5%, and has dropped 8.3% from its 2011 peak.

Care to say who you used to refinance? I'm in the same boat and about to hit 20% equity, so getting a lower rate and losing my PMI would be awesome.

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Posted

I have a private mortgage from an individual who will honor a rate quote from any bank, so I can't be of much help to you there.

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Posted

Care to say who you used to refinance? I'm in the same boat and about to hit 20% equity, so getting a lower rate and losing my PMI would be awesome.

where are you located at?

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Posted

Care to say who you used to refinance? I'm in the same boat and about to hit 20% equity, so getting a lower rate and losing my PMI would be awesome.

also, when you get to 22% equity, the PMI disappears.

For most of us, the 7/1 ARM is the best option out there. You get the low rate associated with an ARM and the chances of you being in that house at year 8 are relatively low.

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Posted

where are you located at?

Charlotte.

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Posted

Home values seem to be sinking again. Checked zillow yesterday and from december to january my house value dropped 3.5%, and has dropped 8.3% from its 2011 peak.

ive read how wildly inaccurate Zillow is.

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Posted

It's off about 10-15% in my neighborhood from what I can tell.

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Posted

I just re-fied my mortgage last week from 4.75% to 3.625%. Saves me $105 on my minimum payment.

Anybody paying ahead on their mortgage? Have a plan to pay it off early? What is it? I have a plan where I increase my monthly payment by $50/year. Seems to be working great so far. My goal is to be mortgage-free by the time my daughter enters college (2028, 19 years from origination).

Home values seem to be sinking again. Checked zillow yesterday and from december to january my house value dropped 3.5%, and has dropped 8.3% from its 2011 peak.

If you have a fixed mortgage at those low rates, you are CRAZY for wanting to pay it off early.

You are paying an effective interest rate of less than 3% (given the tax dedictibility of the interest)

You would be much better served to take the additional amount that you would pay and invest it. Over a 20 year period, the market will return much more than a 3% return.

Jsut a thought.

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