We relocated and purchased our home about a year and 7 months ago in an area that was more expensive than we were coming from. The purchase price was $239,000, we put down $14,000, and took a home equity loan of $34,000 to finance the rest of the purchase price and to avoid PMI. I recently submitted a question about whether or not to start paying down the first mortgage or the home equity loan, and got great advice, but I am wondering now that my tax value of my home has increased in January from $200,000 to $279,000 due to reassessment, (I know it wouldn’t sell for that now because we recently had comparables done in January), would I save money by refinancing my first mortgage and adding in the home equity loan so the total amount has a lower interest rate? My husband thinks we have to wait 2 years before we can refinance, and I’m not sure about that, but that would be this July. My goal is to pay off our house as soon as possible.
Posts Tagged ‘Should’
My neighbor has two dogs next door I hate dogs my children loves them. Should I build a fence to keep’em out?
The dogs jump the fence today! But not dangerous according to neighbor.
Should I help my parents with the down payment on their new home?
I am in my last year of law school, still searching for a post-graduation job. When my parents filed for bankruptcy, they were allowed to stop paying on their home morgage (around $1200 a month) under the Bankruptcy Code. This “automatic stay” has been in place since my dad filed, a total of 6 months. Hence, for 6 months my parents have been living in their house that is about to be foreclosed by the bankruptcy courts without paying a morgage. You think they would have saved money for moving right? NOPE. They don’t have a dime!
I am a LOT wiser with my money. I have a $5000 mutual fund account, over $3000 in savings, 2 jobs in which I place “extra” money in money market account.
They have paid my car note and insurance ever since I have been in law school. I feel that I should help them with their down payment on their new house but I am scared because they are not financially responsible and I need that money to pay for bar dues, bar classes, the bar itself, moving expenses, etc.
What work field should I choose?
artist, photographer, interior designer, or crime scene investigator?
Please tell me in what country, state, and city it would be best to pursue these jobs. Also maybe of the process and the pay(just curious). Thanks.
Should I get a home equity loan to pay off back taxes?
I need to pay off about $30,000 in back taxes. Is it better to take out a home equity loan, cash in stock, or borrow or liquidate a 401K?
What type of classes should you take if you are a 16 and interested in interior design?
I love designing things but i want to take it to the next level and actually take some type of class teaching you about design. Do they have that for people in high school?
Is it worth having an interior designer design my first boutique or should i do it myself -we are on a budget?
We are opening our first small childrens boutique and I am wondering if it is worth the money to hire someone to help layout the space and do the interior decorating. This will be about a $2000 cost probably and that is money I can put towards other things. We are on a budget and I want to do things myself if I can. But I am wondering if it is worth having a professional come in and do the design. Do they really do that much?
Should I refinance my home loan now, 12/16/08?
I have a 5 year ARM. I have $105,000 remaining on my loan. I am now in the last year of my ARM loan. The ARM rate is 4.625% and will adjust to a different rate November 2008. 30 year fixed rates are now 5.125%. Should I refinance? What are they additional costs to refinancing? Do you think the 30 year rate will go lower? How much would closing costs be? Thanks.
What should I put on my business card that symbolizes my interior design work?
I definently want a photo, but I dont want to use any from my house. I am currently in the process of changing themes. I was thinking of using one from the internet, but I cant find any I like. Also, I dont want people to realize I got it from the internet.
Do you know of any nice ones on the net? Or have any other ideas? Again, I definently want to use a photo of an interior space.
Which steps I should make first when start running international home interior design company?
At the moment, I`m running my own Interior Architect company in my country! When expanding activity abroad should I run as freelance? Which problems I could face?
Should I take a home equity loan to pay off the 17,000 in medical bills I have?
I got these medical bills from a recent surgery and its causing a huge financial strain on me. I make enough to live comfortably, but not enough to live comfortably and pay this incredible amount of money every month. I am just wondering, since interest rates are so low right now, is it the right time to take out a home equity loan?
I am looking to buy a home, new construction. What should I ask the contractor? What incentives are typical.?
I am looking in Bakersfield, CA. The real estate market is one of the worst in the nation. I’m thinking builders are losing money with land just sitting and empty spec homes maybe I could get a good deal. I just don’t know what to ask for as in closing costs, what type of incentives, how much to ask them to discount the price. The house that I like is in a gated community, 2800 sq ft, 4 bed, 3 bath, formal living and dining, 3 car garage, lot is 13,500 s.f. base price is $470 they are willing to throw in a pool. I’d rather they come down on the price. I’m concerned if I don’t get a good deal I’ll end up losing in the deal if the market doesn’t pick up with in the next year or two. Also can I use the equity in my current home as collateral instead of the 25% cash down? Thanks in advance for your answers!
Building garage, how much money should they ask for b4, during and after, how often during contsruction ?
I am having a garage built out back. 400 sq feet. Its almost done. The workers who are building are friends of a friend, they have been asking for money ($1000, 300,500) like every day, for parts, material, etc. What usually does it cost for materials and labor? I am in southern calif.
Building garage, how much money should they ask for b4, during and after, how often during contsruction ?
I am having a garage built out back. 400 sq feet. Its almost done. The workers who are building are friends of a friend, they have been asking for money ($1000, 300,500) like every day, for parts, material, etc. What usually does it cost for materials and labor? I am in southern calif.