REFINANCING - Should you?

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Dunno, but you can go here to get an idea.

-- Anonymous, August 10, 2001

Answers

Keep in mind that when you finance anything you are just renting it from the lender until you finish paying them. Anything that interrupts your payments can put you in a position of losing the entire asset, home, car, whatever. You can pay on a home for years and then miss payments, get forclosed, evicted, and get nothing back from all the equity you thought you had.

Try to get your home paid off now if you can. If we have a bad economic situation develop like it did in 1929 through 1939 you are better off if you own your own home free and clear. Then you only have to pay property taxes to keep it.

-- Anonymous, August 10, 2001


That link is about as helpful as my calculator. In fact, it is a calculator. I wonder why they even have it there, considering that anyone who accesses their page has a calculator on their computer...

-- Anonymous, August 10, 2001

Well, we still owe about $81,000, so not much hope of paying it off any time soon. The only protection we have is that we were able to get a VA loan. If we refinance, which we're thinking of, we'll go VA again, even though it means a half percent more interest. A VA loan isn't much protection, I grant you, but maybe it will help if TSHTF. (Now there's a set of initials you haven't seen for a while!)

-- Anonymous, August 10, 2001

Mortgage rates to decline

-- Anonymous, August 10, 2001

Excerpt:

On Wednesday, the Federal Reserve Board released its latest "Beige Book" economic report. The report is a collection of anecdotes about retail sales, labor market conditions, bank practices and other things that Fed underlings cull from around the country and forward to policymakers eight times a year.

Officials consider the report when determining interest rate policy, and the latest one contained news that can only be described as terrible.

Bond yields cratered in the wake of the report's release at 2 p.m. Wednesday because it signals that the economy is weaker than many people thought. That may force the Fed to cut rates further and sooner than expected. Because of the dramatic decline in yields, mortgage rates could plunge over the next couple of days.

Rates actually ticked up a bit in the most recent Bankrate.com survey. The average rate on a 30-year, fixed mortgage rose 4 basis points to 7.05 percent, while the average on a 15-year mortgage also rose 4 basis points to 6.59 percent. One-year adjustable loans averaged 5.99 percent, just one basis point above the week-ago level.

Bankrate.com collects rate data for its weekly benchmark surveys every Wednesday. But because the Fed report came out late in the day, any rate changes implemented as a result of the report won't show up in the Aug. 8 survey. A significant drop in rates is likely during the next couple of days, even if it may not be reflected in the "official" numbers until next week.

-- Anonymous, August 10, 2001



I can't think about refinancing. Heck, the closing on my home is on Monday!

Hubby is secure in his job for the next two and a half years. My job is secure (at least I think that it is, it would take action from the state capital to get rid of me). While the current downturn has me worried, I'm still going to continue with the purchase of my house. At least that way, I can't get kicked out because the owner of the house wants to live in it.

Wish me luck in moving next week. We're supposed to have a cool spell come along where the highs will only be in the 95-97 range. Hope it holds until we get everything moved.

I cut my foot open last night, and am waiting to go get the dreadded shot! :(

-- Anonymous, August 10, 2001


Yep, the prospect of yet another rate cut has us waiting a bit.

Sheeps, remember they put that tetanus in your nether region so wear your best knickers. The nurse who did mine was really good and I hardly felt it. They gave me an antibiotic shot in the arm too; that wasn't bad either. Hope the cut isn't too bad--guess not if you're waiting. . .

-- Anonymous, August 10, 2001


I'm outta luck for the tetanus! Remember those shortages we are hearing all about? Seems like tetanus is one of those. I went to 5 doctor's offices and each told me either the health department or the ER. The health deptartment was already closed, and I called the hospital, and they didn't have any either. :(

Hopefully I got it all cleaned out well enough that I don't get anything nasty. I cleaned it right after it happened.

-- Anonymous, August 10, 2001


No kidding! I guess Duke has good Colombian connections or something :) I think there's some time before lockjaw sets in. Long as it doesn't affect your typing, huh?

-- Anonymous, August 10, 2001

Just to make you feel worse and show everybody what thread drift is:

Encyclopedia.com

tetanus Pronounced As: tetns, -ns or lockjaw, acute infectious disease of the central nervous system caused by the toxins of Clostridium tetani. The organism has a widespread distribution and is common in the soil, human and animal feces, and the digestive tracts of animals and humans; however, the toxin is destroyed by intestinal enzymes. Infection with the tetanus bacillus may follow any type of injury, whether incurred indoors or out, including nail puncture wounds, insect bites, splinter injuries, gunshot wounds, burns, lacerations, and fractures. Deep puncture wounds are most dangerous, since the bacillus thrives in an anaerobic environment.

The tetanus toxin, one of the most potent poisons known, acts on the motor nerves and causes muscle spasm at the site of infection and in other areas of the body. The most frequent symptom is stiffness of the jaw (lockjaw) and facial muscles. Difficulty in breathing and severe convulsions may ensue. The mortality rate is very high, especially in the very young and the aged; overall it is about 40%. Treatment with tetanus antitoxin should be started promptly in conjunction with human immune globulin. It is preferable, however, to prevent the disease by active immunization (including booster shots) with tetanus toxoid (see vaccination).

-- Anonymous, August 10, 2001



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