So you are looking at buying a house and taking on a mortgage? Well, then we are in the same boat. I love looking at all the wondrous mortgage calculators that are available on the internet. Saves me quite a bit of time of trying to create my own amortization schedule, not that it is…
Tag Archive: mortgage
Should You Sell Your House in This Market?
During the process of hunting for our first house, I got to thinking about the difficult position many Americans are in with the declining value of their homes. In ways, it seems to be a great time to purchase a home if you have the ability to qualify for a loan. Then it hits me,…
How Far Do Mortage Rates Have to Fall for Refinancing to Make ‘Cents?’
The answer is complex and involves a number of variables: current principal amount, current interest rate, closing costs, among others. For simplicity, we’ll follow the example of a recent StupidCents.com post with a $160,000 mortgage and current interest rate of 6.50%. We’ll also assume closing costs are $1000 and you want a simple break even time frame of one year…
Save $200 Per Month – Refinance!
Everyone is keenly aware of the global economic chaos that has unfolded since an early warning sign was fired on February 27, 2007. The response to the worst housing environment since the Great Depression has been unprecedented: bailouts totaling $8.5 trillion through November 25, ownership stakes in over 200 banks, and loans to General Motors…
