I have been paying down my mortgage aggressively. I want the freedom to own my home. Thoughts on this -?
I am 42 and my husband is 46. We do not "sacrifice" but are careful. Our current outstanding mortgage is $160,000. We started with $346,000 almost 4 years ago, but have been paying it down. Our interest is 4% but it is an adjustable that may jump to 6% in April of 2009. Is there a way to refinance and lower my payments so that we may pay off our home sooner, and so that we may be able to afford college without struggling?
Asked By: PB - 12/9/2007
Best Answer - Chosen by Asker
If the true value of the home, based on a hard appraisal and not a quesstimate, then you are at about 46% loan to value! Great job! Have you ever calclauted your APR to see how much money you did save by applying additional payments... More
Answered By: dkrg04 - 12/9/2007
Additional Answers (3)
Talk to your Bank manager
Answered By: jennifer h - 12/9/2007
You are not going to get any better that what you have. Keep doing what you are doing and when your rate adjusts in 2009, look at the rates offered at that time. If you can refi and get at least a point better at that time, do the math of the closing costs vs the time left on your mortgage and see if it makes sense.
Answered By: Gregorio - 12/9/2007
If you're going to keep paying down the loan at the same pace, I wouldn't refi... More
Answered By: Philly Broker - 12/9/2007
Over 483 Local Jobs Now Hiring In Your Area. $18-$87/Hr - Apply Today!
Click. Search. Apply. Free!
Jobs hiring near your local area. Part-time, Full-time, Work at home.
Earn residual on products and services customers uses daily at home.
Other Career Questions
What is your current job? Why did you choose this job? What do you enjoy about your job? What do you dislike about your job? What would be your perfect job? Would you rather have this j...
Where are the jobs? Is productivity and globalization creating a permanent “recession” of jobs? My main issue is I am doing a paper for school and have no idea where to begin. I was hoping suggestions...
Hi ok im 19 and about to start college to do an acess course into a university. Ive been browsing through all the courses and im tottaly stuck! I thought politics but im scared ill end up with some r...
Content is not owned or controlled by Monster. Any content concerns should be addressed with Yahoo!
Yahoo! Does not evaluate or guarantee the accuracy of any Yahoo! Answers content. Yahoo! Disclaimer.
Best-Paying Work-from-Home Jobs
It’s easier than ever to work from home. Of course, not every job is a mobile job, and some companies aren’t interested in having their employees work from home.
2013 Marketing Jobs Outlook
The US may be facing another year of anemic hiring overall, but that won't be the case in the high-orbit world of multichannel, digital media marketing.
2013 Engineering Jobs Outlook
Engineers will find job opportunities in select disciplines in 2013, with candidates who are all-around, client-oriented businesspeople in demand.
Best-Paying Jobs by Major
What could you earn with a particular four-year degree? Find out by checking out this list of the top-paying jobs for 20 of the most common majors.
Eight High-Paying, Secure Jobs
Want to earn a good salary and enjoy a measure of job security as well? Check out these well-paying jobs on tap for fast growth in the coming years.