finance

Mortgage Advise Thursday Two Questions #103

by Self Sagacity at 3:43 PM
Are you the type of person that has your life path laid out for every single aspect? What happens if it doesn’t work out? It is safe for me to say that almost everything takes money to accomplish in life, like raising kids, learning a new skill, getting a new roof on your house. That’s right, and it isn’t easy when you are not made of wealth, but the best buy to let mortgage advise is the first step when thinking of any major spending.


A lot of these unexpected needs will come with expenses that we didn’t account for. But what if you are the type that has a plan for everything? In that case, you would have an account for the rainy days. Sure, that is great for people who have money to put away you say, but what if you don’t?

It isn’t for everyone, but since mortgage rates have been so low. I have refinanced my mortgage to get cash out. I am saving the money for unexpected projects that goes towards the house. Because mortgages are tax deductible I can write off the interest, in the end the interest I paid will offset some income I made. My thoughts have changed about debt since I was younger. Now, I am much more comfortable with having as many loans as I can handle. Let's just say I consider them as "creative financing".

Here are Self Sagacity's Thursday Two Questions #103
1)Are you comfortable with having loans and debts?
2)With the interest rates so low, have you ever refinanced?

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8 Comments

  1. Icy BCSeptember 5, 2012 at 5:06 PM

    1) I don't like to have a mortgage, or owning money on anything, but there is no choice.

    2) I would do it if it could save me money and bring me down to where I will have some money left over..

    ReplyDelete
  2. betchaiSeptember 5, 2012 at 5:14 PM

    i am still in the very conservative side, i could sleep well if worry and stress free, thankfully, i and hubby have same views on this.

    ReplyDelete
  3. UnknownSeptember 5, 2012 at 7:12 PM

    I hate loans and debts. I have a school loan which I owe more on than my mortgage. I find it cumbersome and disheartening. Had I not allowed my children to talk me into co-signing I would have a decent credit rating and be able to explore options.

    ReplyDelete
  4. SquirrelQueenSeptember 6, 2012 at 12:39 AM

    Not really, I am not thrilled about having a mortgage especially since we still have twenty years to go. But it is still better than renting. We don't have too much in the way of debt but I don't like having any.

    We got such a good rate when we bought this house we haven't refinanced yet.

    ReplyDelete
  5. JimSeptember 6, 2012 at 12:47 AM

    Good thinking, Amanda. I don't like to owe but I have during my life. After our recent car wreck I was glad not to have a car note with the new-to-us one as was not with the old one either.

    I am not a real good planner. I generally look for and find 'open doors' with good through to the other side. But most times I have a Plan B.
    ..

    ReplyDelete
  6. Cathy KennedySeptember 6, 2012 at 8:08 AM

    I don't like being in debt or having loans. Hopefully by next month we'll have everything paid off. Of course, I very much want to find that dream house of mine and this would be the perfect time, if I could only locate something we're nuts over!

    If I had a home mortgage then this would be a great time to refinance. There's nothing wrong with that!

    Thanks for hosting, my friend!

    ReplyDelete
  7. AnonymousSeptember 6, 2012 at 12:33 PM

    I am not comfortable carrying a debt of any kind, and if I can redo my mortgage to bring down the payment or finishing the payback quicker, I would do it.

    ReplyDelete
  8. Colette SSeptember 6, 2012 at 9:21 PM

    So much to learn about the mortgage wield and deal.

    1. I do not like loans and debts. I rather spend what I have and be done with it.
    2. We haven't refinanced, but with us not having any money, I might make a suggestion to dh.

    Thanks for sharing!

    ReplyDelete

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