EcoRenovator - View Single Post

Peakster · 07-16-10, 02:16 PM

The power of refinance is awesome! I had line of credit debt that was going to shoot up in interest rate if I leave my job (which I'm planning on doing), so I had them paid out with the mortgage and closed them completely.

In my case I went with a 3 year fixed at 3.50% (my original mortgage was 4.39% fixed for 3 years 9 months), went from a 33 year amortization to 25 and now I just have one debt to worry about. With the extra cash-flow I'm stuffing the extra cash into savings and it feels good!

07-16-10, 02:16 PM	#40
Peakster Apprentice EcoRenovator Join Date: Feb 2009 Location: Regina Saskatchewan Canada Posts: 146 Thanks: 0 Thanked 22 Times in 21 Posts	The power of refinance is awesome! I had line of credit debt that was going to shoot up in interest rate if I leave my job (which I'm planning on doing), so I had them paid out with the mortgage and closed them completely. In my case I went with a 3 year fixed at 3.50% (my original mortgage was 4.39% fixed for 3 years 9 months), went from a 33 year amortization to 25 and now I just have one debt to worry about. With the extra cash-flow I'm stuffing the extra cash into savings and it feels good! Last edited by Peakster; 07-16-10 at 02:26 PM..