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Money and Finances
Reply to "Feeling Paralyzed with Financial Decisions"
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[quote=Anonymous][quote=Anonymous]OP, do you have a chunk of money saved that you could dump into your mortgage to increase you equity. If so, you can put the money in, "recast" and drop your mortgage payment while keeping your interest rate. I did this to leave Biglaw and go in house. [/quote] I have $100k saved. But it does me no good with my mortgage because I'm prohibited from recasting my mortgage -- we have a VA loan. With VA Loans they allow you to do a streamline refinance, but only if you are getting a lower interest rate. Since our interest rate is 3.5% I obviously can't do better.[/quote]
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