Are you under water?

[PntherPryd]

No saints fans in this thread? I thought they were all underwater?

We've been lucky and in the last decade have bought and sold real estate at exactly the right time, both here and on the west coast. It was pretty amazing what the same money on the west coast paid for here on the east coast back in 2003.

Where a lot of people get in trouble is not in the original transaction but keeping their hands off their home equity. They jumped on even the smallest bump in value and taking low interest rates on variable rate loans and taking out a secondary mortgage for as much money as possible. Now home values are significantly lower, your payment is higher, no more equity so no bailout even if you can sell and with the money you bought a couple of Toyota's. God forbid interest rates go up.

[dimbee]

Go to www.zillow.com for a quick and pretty accurate home value estimate.

Incorrect.

[Sultan33g]

finally figured out...my zestimate is for 346000 when i bought if for 298000 last year and closing costs paid for by the bank. paid 20% down...not bad

[pstall]

Incorrect.

You are correct.

Where I work we have a good site that is pretty close.

Right now, with rates so low and banks/credit card companies feeling the spotlight on them from DC. People should be hammering these guys to get lower rates or reduces payments etc.

Knock out your debt while rates are stupid low.

[Cat]

we are at 5.35 for 30 year fixed. not sure how long we are going to stay in this house, could be as many as 6-7 years. Should i look at refinancing?

[dimbee]

we are at 5.35 for 30 year fixed. not sure how long we are going to stay in this house, could be as many as 6-7 years. Should i look at refinancing?

If you would be pursuing a 30 year fixed, I would not. If you wanted to shorten the term to pay down faster, I would.

[pstall]

we are at 5.35 for 30 year fixed. not sure how long we are going to stay in this house, could be as many as 6-7 years. Should i look at refinancing?

Be hard to beat 5.3. Unless it's a full point but your window is 6 yrs I say stay.

But guys like dim can speak better at least on the rates and costs.

I'm looking at this strictly from future growth in Clt.

[Cat]

I figured if I saw 30 year fixed rates around 4.3 then I would refinance. It would knocked $150 off our house payment. In 6 years that's almost 11k

[dimbee]

I figured if I saw 30 year fixed rates around 4.3 then I would refinance. It would knocked $150 off our house payment. In 6 years that's almost 11k

7 months ago, you could have gotten that rate. Nowadays, hell naw. We're not likely to see 30 year fixed rates below 4.5% anytime soon, barring catastrophic economic collapse.

[pstall]

Just make sure the out of pocket now is justified cat. But yes, the savings can be huge.

[Kurb]

we are at 5.35 for 30 year fixed. not sure how long we are going to stay in this house, could be as many as 6-7 years. Should i look at refinancing?

I got 5.2/30

If I ever see them 4ish again I might think about refi

[pstall]

On a side note, invest in wireless providers, tower makers etc.

[Samuel L. Jackson]

finally figured out...my zestimate is for 346000 when i bought if for 298000 last year and closing costs paid for by the bank. paid 20% down...not bad

GD! Let me get in on whatever business you're in!

[Sultan33g]

GD! Let me get in on whatever business you're in!

lol had a good bit of savings...mortgage is not bad..20 bux more than my rent was in my condo in atl 2 years ago