Toggle navigation
Toggle navigation
Home
DCUM Forums
Nanny Forums
Events
About DCUM
Advertising
Search
Recent Topics
Hottest Topics
FAQs and Guidelines
Privacy Policy
Your current identity is: Anonymous
Login
Preview
Subject:
Forum Index
»
Money and Finances
Reply to "Feeling good about my 3.75% 30 yt mortgage"
Subject:
Emoticons
More smilies
Text Color:
Default
Dark Red
Red
Orange
Brown
Yellow
Green
Olive
Cyan
Blue
Dark Blue
Violet
White
Black
Font:
Very Small
Small
Normal
Big
Giant
Close Marks
[quote=Anonymous][quote=Anonymous]I have a 4.25 for a 30 year, but now only 6 years left b4 it's paid off. With only 6 years left, I assume it doesn't make sense to refinance. Is that correct? [/quote] The easy answer is no it makes no sense. A refi has costs which add to the loan. What happens in 6 years will you be retired? Losing the mortgage int deduction if your still working while not a major factor could have some impact. Also how marketable is this home? If needed could it sell for a good price with limited additional money invested to improve? My parents have a net worth of barely 400K but their home makes up 250K of that so no liquidity/ too heavily house dependent,, but they are old so not too big of a deal. My same scenario is much the opposite I have house equity but it makes up only about 10% and it won't be paid off in my lifetime but I will sell it and downsize when kids leave in 3 years.[/quote]
Options
Disable HTML in this message
Disable BB Code in this message
Disable smilies in this message
Review message
Search
Recent Topics
Hottest Topics
