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Not really related to anything discussed yet, but I was very surprised to find this out... I have a buddy that is a firefighter here in KC, HUD has a program where he can purchase a home, they work out a 50/50 1st and 2nd loan on the home and if he stays in it for 3 years they wipe out the...

Because a slip of paper from a four year university is the ultimate test of intelligence. Good argument

That"s true, pretty much nobody stays in one home for 30 years to pay it off anymore, so that may be a calculation that doesn"t really apply to a lot of people. Just make sure there"s no chance that you guys would up and move next year or something, you"ll more than likely have less equity in...

If you are more than 3 years into your current 30 year loan, jumping back out to 30 years at those prices is losing you money. $1024 x 12 months x 27 years = $331,776 $933 x 12 months x 30 years = $335,880 I wouldn"t do it unless you are only a year or two into your current loan, or if...

Lol nice name change for the topic

That"s exactly what I did. I just rented for years, from the age of 22 when I got out of college to the age of 34, I just rented various places. I was single, no kids, and no pets so I was basically free to live wherever I wanted and come and go as I please with no outside influence. Was great...

Also with an AC and furnace that old, one thing to consider is that the price of replacing both at the same time would probably be significantly less than doing them separately, especially if the AC goes out first. Installing a new AC requires quite a bit of labor/time spent with the furnace, so...

Also a couple things: Some mortgage companies won"t sign off until you have a contract in place for the repairs. They want to know you are actually fixing the damage on their investment. Most people know this(but we run into a lot that dont), if your roofer/repair guy wants any money up...

You shouldn"t have any problems as long as your payments are up to date and you"re don"t owe them any fines or delinquent payments. Basically, your mortgage company owns your home, just like a lienholder owns your car until it is paid off. An insurance company won"t make any significant...

I"ve seen several people refinance to specifically get away from the mortgage company they are currently with, and unhappy with, only to end right back up with them when the loan is sold down the road at some point. If you"re financing with anyone other than one of the 10-ish largest...

1000 X this I can"t tell you how many friends I"ve had get royally screwed from taking out loans with a boyfriend or girlfriend(mostly cars, but a few homes). Best-case scenario if you break up is she walks away from it and you are responsible for the entire loan when she stops paying on...

Do you earn enough income that a bank is going to loan you ~$700,000 worth of mortgages simultaneously? Also don"t bank on being able to get as low an interest rate on the 2nd home as you did on the first, unless your income is WAY overqualified for such an amount. My father has a primary...

Voted. Still have a nice lead