In my ten months of owning an investment property, things have run very smoothly. The mortgage is the same one that we had when we were living there; we had refinanced the loan in 2005 to cut 11 years off of our loan for only about $150 extra per month (we did a mortgage refinance … Read more
Although it’s not quite dinner conversation yet, talking about family finances with other people is getting to be less taboo. This is a good thing, because the forces at work that aim to part us from our money are more devious, stronger, and more numerous than they were fifty years ago. A big part of … Read more
As much as I follow football, I thought the Pittsbay Stackers and the Greenburgh Peelers were playing. (But seriously, congratulations to the Packers. Something needed to knock my rabid Steelers fan colleagues down a few notches.) I caught this tweet from @blondeonabudget regarding the outcome of Super Bowl XLV: “My only regret was that I … Read more
Some of my relatives did a mortgage refinance a little over a year ago. As low as rates were in 2009, they are even lower now. They currently have a 15-year fixed-rate mortgage at 4.625%. Not too shabby. But they told me that they were quoted a 15-year fixed-rate mortgage of 3.5%. Absolutely crazy! We … Read more
It really disheartens me to see people go from some of the best kind of debt to have to some of the worst kind, at the worst possible time. Someone over at Basically Money was planning to do a mortgage refinance from a 30-year fixed-rate at 5% to a 5/1 adjustable rate mortgage at 2.7%. … Read more