Gotta get them to use the phrase "shedding bucket-loads of adrenaline"

 

faaak. I should have! Still time - the reporter is going to call me back today to go over my quotes, so I'll have a chance to edit them then.

 

neat! can you give us some general context?

 

WSJ stalks reddit.

found a post I made about a mortgage refi.

Journalist that writes about mortgages at WSJ reached out wanted to know if I had gone through with the refi and the reasons why or why not.

Explained to her that for most ppl with equity a refi is usually a good thing, however in my situation - being a home buyer at the peak of the 06 market, I still have no equity in my home so in order to qualify for the best rates, I'd have to put down 20% of my appraised value to refi - just to save at most a couple hundo per month and in doing so, would actually add $80k to the the payoff, since I'd have 30 years of slightly lower payments vs 18 years left of my current deal.

 

thanks.

r/personalfinance?

 

exciting stuff right?? :-p

r/realestate

 

noice

 

What would happen if you refi'ed into a 15 year?

 

My monthly payment would go up. I'd still have to bring a bunch of money to the closing table - more if I wanted better rates and no PMI. In the mean time, I'm throwing an extra $350 at the principle, effectively giving me a 15 year mortgage.

Govt had a HARP "free" refi program that was offered to people with FHA loans, but since I don't have an FHA loan, I don't qualify.

Was a bad time to buy a house, but could have been worse if I'd bought a few months later than I did, as home values were about 30% higher in 2007.

Cliffs: A refi would be a pretty simple process for people with equity in their homes - at least 20% ideally. For those with less, not so much.

 

You've been in the house for 12 years...and you're still underwater?

Assuming you bought with 20% down...you should owe roughly 58% of the original purchase price by now....I'm guessing neither of those is the case?

 

I put less than 10% down on a 30 year note. Still owe 81% of original purchase price. At the time properties were appreciating at an insane rate. Previous owner bought in 1998 and sold it 8 yrs later for 128% more than they paid for it.

If my mortgage payments (including tax/ins) were principle only, the mortgage would have been paid off at this point with $40k left over.

 

Sorry mang

 

thanks - I've come to accept it. I could be worse off. I could have bought a few months later. I'm fortunate in that my mortgage is affordable, I have plenty of savings and investments, etc, so I can buy a house when I want and not have to rely on the sale of my current home to buy my next place. As a result I've become a lot more gunshy and picky though then I was back in '06 when I looked at 5 houses in 10 days and bought the least shitty one.

Little did I know that when I backed out of my last contract in 2016, I had locked in the lowest interest rate in the history of mankind.

(that's an exaggeration but it was pretty damn good)

 

i wonder if people realize a 30 year mortgage @ 4% means they're paying 70% more for the house

 

 

Mortgages, man. What a fookin' racket.

I won't buy again until I can comfortably put a large sum down and pay off in 15 yrs or less. Especially with interest rates on the rise again (or expected to be anyways).

 

Ah, I thought the interest rate might offset it. I can see why it wouldn't based on the amount of principle left though.
A dollar tomorrow is worth less than a dollar today though. 100k from 1988 is 215k today just from inflation (not to mention what the stock market has done over that time period).

 

Jaysus. I feel lucky. When we bought our house we paid about 50K less than what the lot is now currently valued at. Of course we were kinda out in the boonies and now we kinda aren't.

FP3 coverage starts in 15 min, cars roll in 20.

 

Force India put a flip flop sponsor on their halo as well

Someone needs to get these on their halo.

 

good call on inflation.

out here in la la land i have to assume my earning potential actually goes down with age. there's a pretty strong bias for younger workers. no families so they're able to work long hours, and naive so easily exploitable.

 

So I can't stream FP on my iPhone 4S on iOS 5 while I'm in the loo?

 

 

Probably a non-Red Bull $3 bolt on that exhaust.

 

They'll say it's a left over Honda bolt.

 

loving the new onboard camera views with the halo