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re: Refi question
Posted on 7/6/14 at 12:30 pm to SpidermanTUba
Posted on 7/6/14 at 12:30 pm to SpidermanTUba
This was the big idea in 2000 or so. How did that turn out?
Live in your house. Get best rate you can. Don't mix stocks sand your personal home. On phone will post a story later .
Live in your house. Get best rate you can. Don't mix stocks sand your personal home. On phone will post a story later .
1
Posted on 7/6/14 at 7:05 pm to LSUFanHouston
Client refi'd end of 2005. Pulled a bunch of money and invested in the market. House value crashed, went underwater. Stock market crashed, freaked out, pulled out of market which locked in losses. Then, lost his job. Had to move out of state to get a new job, and had to do a short sale on his house.
Refinance to get a lower interest rate, or maybe to spend the proceeds on the house in improvements if they will actually benefit the house. Take the money you save on interest each month, add to principal. That's the best way to refinance.
Refinance to get a lower interest rate, or maybe to spend the proceeds on the house in improvements if they will actually benefit the house. Take the money you save on interest each month, add to principal. That's the best way to refinance.
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