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drjohnnyfever

drjohnnyfever

Pro Bowler
RavensMania said:
thank goodness my mortgage was paid off in July. Paid off a 15 year in 11.
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We refied 2 years ago to a 15 year. We didn't take any money out, just went from 30 to 15 for the balance. We are @ 2.5% and sooooo glad we did it. I feel for anybody renting, paying a variable rate mortgage, or just buying. These rates are crippling combined with the inflated prices of the houses purchased.

Regarding Tampa and that area... we were just down there this past weekend. It's so beautiful and wonderful. It had been 20 years since me and the wife had been down there. It's grown and shit is pricey. I wish we had bought with our friends that live there now and just rented for all these years. I would love to live there in retirement from mid-October to May, but the rest of the year is hot and for the birds compared to our summers in Baltimore. Altho, I do love the brief July jaunt to Key West - it's a ghost town, except for cruise ships. Summer in Florida can suck eggs.
 
RavensMania

RavensMania

Staff Member
Administrator
drjohnnyfever said:
We refied 2 years ago to a 15 year. We didn't take any money out, just went from 30 to 15 for the balance. We are @ 2.5% and sooooo glad we did it. I feel for anybody renting, paying a variable rate mortgage, or just buying. These rates are crippling combined with the inflated prices of the houses purchased.

Regarding Tampa and that area... we were just down there this past weekend. It's so beautiful and wonderful. It had been 20 years since me and the wife had been down there. It's grown and shit is pricey. I wish we had bought with our friends that live there now and just rented for all these years. I would love to live there in retirement from mid-October to May, but the rest of the year is hot and for the birds compared to our summers in Baltimore. Altho, I do love the brief July jaunt to Key West - it's a ghost town, except for cruise ships. Summer in Florida can suck eggs.
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good for you. Yes, when my wife and I refied in 2011 we changed from a 30 to a 15 and basically didn't pay any extra. We also had the mortgage set up on an every other week payment. Not only does that get an extra payment in each year, but also the payment is early and saves money on interest.

Add in the last 4 years we have paid 500 on top of the mortgage.

I know someone who sold his house in Virginia with 7 yrs remaining on his mortgage just so his house didn't go down in value. He then moved 10 minutes away from where he currently lived and now is paying rent, which is basically throwing money away. I can understand this if you are moving to another area, but just to lock in the value of your home.
 
drjohnnyfever

drjohnnyfever

Pro Bowler
RavensMania said:
good for you. Yes, when my wife and I refied in 2011 we changed from a 30 to a 15 and basically didn't pay any extra. We also had the mortgage set up on an every other week payment. Not only does that get an extra payment in each year, but also the payment is early and saves money on interest.

Add in the last 4 years we have paid 500 on top of the mortgage.

I know someone who sold his house in Virginia with 7 yrs remaining on his mortgage just so his house didn't go down in value. He then moved 10 minutes away from where he currently lived and now is paying rent, which is basically throwing money away. I can understand this if you are moving to another area, but just to lock in the value of your home.
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Yeah, we will start those extra payments soon. Wife is transitioning from teacher to admin and the extra is going to extra mortgage payments.

We were lucky about the 2008 crash. I owned a place I bought in 1989. I had started improvements on it, so we just stayed and rode that shit out. By 2015-6 the kids needed a community school rather than shuttling with us. So we found a fixer upper in Towson. Found a guy to do basically a total tear down and rebuild. That wasn't without issues, but after getting him out of the picture when it was clear he was not going to take it all the way home, we finished it on our own and immediately had a whole shit-ton of equity in it because of both the timing and the improvements. Really lucky outcome.

The refi was as much to get away from a shady mortgage company as it was about getting a better rate. But once we realized the rates that for $200 more/ month we'd be done and own the thing in 15, the decision was easy.
 
RavensMania

RavensMania

Staff Member
Administrator
drjohnnyfever said:
Yeah, we will start those extra payments soon. Wife is transitioning from teacher to admin and the extra is going to extra mortgage payments.

We were lucky about the 2008 crash. I owned a place I bought in 1989. I had started improvements on it, so we just stayed and rode that shit out. By 2015-6 the kids needed a community school rather than shuttling with us. So we found a fixer upper in Towson. Found a guy to do basically a total tear down and rebuild. That wasn't without issues, but after getting him out of the picture when it was clear he was not going to take it all the way home, we finished it on our own and immediately had a whole shit-ton of equity in it because of both the timing and the improvements. Really lucky outcome.

The refi was as much to get away from a shady mortgage company as it was about getting a better rate. But once we realized the rates that for $200 more/ month we'd be done and own the thing in 15, the decision was easy.
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make sure you contact the mortgage company and they know the payments are for the principal.
 
JO_75

JO_75

Hall of Famer
allblackraven said:
It doesn't matter, we play both teams, Panthers next week.
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Other Teams Discussion Thread here........

purpleflock.com

Week 10 (BYE Week Edition)

Someone has to win the NFC South and we'll take another step further in figuring that out as the Falcons head to a rainy Charlotte to take on the Carolina Panthers. As @allblackraven said, tonight is a good night for us to scout our future opponents including the Carolina Panthers who come to...
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