huntu
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| refi or not??? |
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Got a condo in Daly city. Ca
Would i be foolish not to r efinance?i,m in 10th year of loan.
Got a 30 year fixed 5.75%
could get a 3.7% 30 year fixed
Got a balance of 112,000
only downside to refi is term 30 years will begin again and im already 9 years into my current rfi but at 30 years pays off 2033 a new 30 year loan will be paid in 2043 actualy either years amute point anyways cause ill be 82 and in 2043 ill be 92 years old
I could pay it off but dont think its good idea as who know could still be going down?
retiring in few years may leave bay area try and sell.
Value at present is 175,000
rent value is $1,500.
High was 06 $389k
Any and all suggestions and comments
thanx 
Last edited by huntu on Thu Jun 21, 2012 7:09 am; edited 1 time in total |
Thu Jun 14, 2012 8:19 pm |
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littleroc02us
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You could get a 3.02% 15 year mortgage and hold onto the property until values come back up which eventually they will and then I would sell.
Risk comes from not knowing what you're doing. (Warren Buffet)
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Thu Jun 14, 2012 8:27 pm |
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huntu
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tha aint bad either
quote:
Originally posted by littleroc02us
You could get a 3.02% 15 year mortgage and hold onto the property until values come back up which eventually they will and then I would sell.
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Thu Jun 14, 2012 8:40 pm |
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littleroc02us
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Just check bankrate.com for the latest rates..
Risk comes from not knowing what you're doing. (Warren Buffet)
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Thu Jun 14, 2012 9:19 pm |
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LottomagicZ4941
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quote:
Originally posted by littleroc02us
You could get a 3.02% 15 year mortgage and hold onto the property until values come back up which eventually they will and then I would sell.
Going back up? Did CA go down enough? What if the market is still to high?
Many of the monster houses shouldn't have been built in the first place.
Deduction of interest on a home should have been capped. Perhaps only on starter homes. Something like this could have kept prices from going to absurd levels.
Non promotional Facebook Jail regular forum inquiry
Promotional post in advert section for new Facebook group for those building a downline
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Mon Jun 18, 2012 1:38 pm |
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huntu
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Cash: $ 1.55
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quote:
Originally posted by LottomagicZ4941
quote:
Originally posted by littleroc02us
You could get a 3.02% 15 year mortgage and hold onto the property until values come back up which eventually they will and then I would sell.
Going back up? Did CA go down enough? What if the market is still to high?
Many of the monster houses shouldn't have been built in the first place.
Deduction of interest on a home should have been capped. Perhaps only on starter homes. Something like this could have kept prices from going to absurd levels.
Cali's always an aberation and s.f. bay area penninsula basicaly has been a bear fer years expensive!
If yer a blue collared wage earner its always been a bear just to have a roof over yer head, one mistake and yer outta the housing market and destined to be a 1 bedroom apt renter .
Just a 1 bedroom condo to own here has dropped to lowest since 1995 or earlier.
Penninsula that is ya know cooler temps chineese comming in buying realestate yes even 1 bedroom condos at the high point 428 k for 1 bedroom condos to now about 175k here in our complex for now going up? going down? staying even?
still lotta distressed owners but also lotta chineese buying immigrants w/ 5 buying some single buyers too.
overbiding and multiple offers are the norm now here cause so many underwater owners wont sell at this time as prices never actually fell below 200k in even the more crowded older smaller more struggling areas.
s.f. penninsula also has the college grads w/ degrees double income earners households 175k ect tuff competition for us lowly maye 100k household earners or single households tuf tuff tuff market.
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Mon Jun 18, 2012 2:24 pm |
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littleroc02us
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The nice part about California real estate is that it's California real estate. My friend has a home there and one minute it's gone down in value 33% the next minute it's up 20%. Owning property in California can be like a rocky relationship.
Risk comes from not knowing what you're doing. (Warren Buffet)
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Mon Jun 18, 2012 2:33 pm |
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