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Troosha, you have the right of it. You can make a refi work for you
but most people don't. You can accomplish many of the goals of a refi without actually doing it and save even more money but most people don't.
posted by
SuccessWarrior
on October 31, 2006 at 11:40 AM
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Refinancing has a fit sometimes
Particularily if you can reep the benefits of a decreased interest rate (net of any re-finance charges). But, as you said, it never works if you view the money as some sort of windfall and spend it on items you previously made due without such as car, that new computer, etc. Most, live beyond their means. This is the biggest financial mistake. Some people don't even have something a basic as a household budget!
posted by
Troosha
on October 31, 2006 at 11:27 AM
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Passion, I know people that prefer rent and
I'm going to discuss rent in the future. It's not a bad thing if you are taking precautions.
posted by
SuccessWarrior
on October 31, 2006 at 8:36 AM
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I miss my lovely home n the country...
But not all the interest I paid to the mortgage company...not all the repairs and upkeep....while I was gone during hurricane season 2005, a severe drought in Texas caused my foundation to crack....
Cha-Ching!!!!!!! I really love having a home, but all that other junk makes me think I'll rent for a while.
posted by
Passionflower
on October 31, 2006 at 8:31 AM
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