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Sounds like a good idea (piog)

Posted by on Feb. 26, 2014 at 12:55 AM
  • 21 Replies

 We never thought dh would retire before our house was paid off but that seems to be the case right now.  So we've been making extra payments every month for awhile now because we really want the mortgage off our backs.  Well, he called the bank and now he wants to do a refinance.  So we are going down from a 30yr to a 15yr and getting 3.75%.  This only knocks off $10 a month off the bill but saves us 5yrs of payments.  We'll still send in extra payments though so it will be paid off sooner.  We have a pretty hefty savings account but I don't want to use that money because you never know when you will need it.  We'll need to redo the roof and replace our heating and cooling units soon.
It doesn't sound like a bad idea but I'm still unsure and I don't know why.  I guess I like leaving things the way they are if they aren't broken, lol.

by on Feb. 26, 2014 at 12:55 AM
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Replies (1-10):
taKENheart
by Platinum Member on Feb. 26, 2014 at 12:57 AM

 Today he set up appointments for quotes for the heating/cooling units.  I assume the units will cost us 10k. UGH! 

Looneyfarmmom
by on Feb. 26, 2014 at 12:59 AM
I am with you on that. We just replaced our ac and our heating unit. I think I screamed at the bill.
momofnatalie
by Lisa on Feb. 26, 2014 at 1:02 AM

How awesome is that!  Congratulations!

taKENheart
by Platinum Member on Feb. 26, 2014 at 1:05 AM

Is it as much as I think it will cost?  Ugh I don't want to but the units have been making noises and are at least 12yrs old.  I don't want to be caught up in 110 summer heat and have them quit on us.  Spring would be best :)  We have 2 to replace.

Quoting Looneyfarmmom: I am with you on that. We just replaced our ac and our heating unit. I think I screamed at the bill.


taKENheart
by Platinum Member on Feb. 26, 2014 at 1:11 AM

Well, thanks.  I'll just feel better when the mortgage is paid off.  I hate having any debt at all. The job he was supposed to get fell through :/ 

Quoting momofnatalie:

How awesome is that!  Congratulations!


Looneyfarmmom
by on Feb. 26, 2014 at 1:20 AM
I really don't remember. I just remember it took up a lot of money. My heater shit down on the coldest week of winter and my ac broke down during the hottest day of summer.

Quoting taKENheart:

Is it as much as I think it will cost?  Ugh I don't want to but the units have been making noises and are at least 12yrs old.  I don't want to be caught up in 110 summer heat and have them quit on us.  Spring would be best :)  We have 2 to replace.

Quoting Looneyfarmmom: I am with you on that. We just replaced our ac and our heating unit. I think I screamed at the bill.

Looneyfarmmom
by on Feb. 26, 2014 at 1:20 AM
I really don't remember. I just remember it took up a lot of money. My heater shit down on the coldest week of winter and my ac broke down during the hottest day of summer.

Quoting taKENheart:

Is it as much as I think it will cost?  Ugh I don't want to but the units have been making noises and are at least 12yrs old.  I don't want to be caught up in 110 summer heat and have them quit on us.  Spring would be best :)  We have 2 to replace.

Quoting Looneyfarmmom: I am with you on that. We just replaced our ac and our heating unit. I think I screamed at the bill.

momofnatalie
by Lisa on Feb. 26, 2014 at 1:34 AM

That must have been a disappointment, but I'm glad you guys still have your savings and a great rate on your remaining mortgage.

Quoting taKENheart:

Well, thanks.  I'll just feel better when the mortgage is paid off.  I hate having any debt at all. The job he was supposed to get fell through :/ 

Quoting momofnatalie:

How awesome is that!  Congratulations!


heydooney
by Danielle :) on Feb. 26, 2014 at 1:38 AM
Seems like a good idea to me. Make sure to check the tiny print.
chrissydan
by Silver Member on Feb. 26, 2014 at 5:28 AM
This is our goal to but we have only own the house for 7 years we have a long way to go
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