IT came, it came~The appraisal is in, WOW who knew the house would be worth so much now? All of the bills are gone, cept ONE payment to the mortgage company, and the amount of time lowered on the mortgage too....doing the HAPPY dance...no more bills, no more bills, no more bills~~WHY YES, I AM EXCITED...DOES IT SHOW?? Equity is a GOOD thing!
And yes Aleta, I DID read your articles you had posted regarding credit. Part of the reason we did refi. When we bought the house it was on a ARM that adjusted every 6 months, and for awhile that was a very good thing. We were paying ALOT less on the house then we had anticipated for the first 5 years...but as interest has gone up, so has the payment on the house, though not to the proportions as the couple in the articles, we had no seconds or anything...just a few credit cards. We've been "good" and quit using them. They will be shredded, save the one I'm freezing, so as not to ever run them up again. We'll cancel the newer accounts...but the ones we have a long established association with, that shows our timely payments, we'll just "place on hold". Not to use, just to show a good credit line with...and maintian a high FICO score.
And yes Aleta, I DID read your articles you had posted regarding credit. Part of the reason we did refi. When we bought the house it was on a ARM that adjusted every 6 months, and for awhile that was a very good thing. We were paying ALOT less on the house then we had anticipated for the first 5 years...but as interest has gone up, so has the payment on the house, though not to the proportions as the couple in the articles, we had no seconds or anything...just a few credit cards. We've been "good" and quit using them. They will be shredded, save the one I'm freezing, so as not to ever run them up again. We'll cancel the newer accounts...but the ones we have a long established association with, that shows our timely payments, we'll just "place on hold". Not to use, just to show a good credit line with...and maintian a high FICO score.
posted by Charla | 7:32 AM
1 Comments:
LoL I didn't think it was directed at me...but a good warning for all who own a home dontcha think? It is so easy to just say charge it. The refi is positive for us in that it a.) allows us to use a little of our equity to get rid of all the rest of our bills and b.) locks us in at a lower interest rate than what we were currently up to and c.)takes a few years off of the length of our current mortgage!
I'm glad you have a place of "your very own" now too. Or should I say, of Michelle's very own...if she's like my cats, we're just here to serve them~
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