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Posted: 1/23/2008 12:34:11 PM EST
Just got a call from a buddy who has his own mortgage business.  Rates dropped substantially.  Presenty at 5.25% on 118k on primary and 6% on 26k on Home Equity loan.  House valued at ~375k.   He's gonna run some numbers and amortization tables tonight for me.

If the numbers make sense, I'll go for it.

Also, I'm thinking it might be a good idea to take say 50k in equity out and buy some stocks on the cheap.  I know the conservative approach is to not do that but I like the idea of buying stocks now.  Dollar cost average over the next 3-6 months on some blue chips with maybe a chance on a flyer.


Thoughts?  Do it, don't do it.
cmmg
Link Posted: 1/23/2008 12:44:42 PM EST
[#1]
Link Posted: 1/23/2008 1:01:30 PM EST
[#2]
Yeah, I know better.  Just wanted to ask you guys.  
Link Posted: 1/23/2008 1:03:14 PM EST
[#3]
I always keep a couple refrigerator boxes handy for ARFcommers. Extension cord and light are extra tho.
Link Posted: 1/23/2008 1:13:46 PM EST
[#4]
My buddy just called.  Something happened 2 hours ago and rates spiked.   Oh well, we'll see what the numbers look like tomorrow.
Link Posted: 1/23/2008 1:33:07 PM EST
[#5]

Quoted:
My buddy just called.  Something happened 2 hours ago and rates spiked.   Oh well, we'll see what the numbers look like tomorrow.



with the current market situation why the h*** would you risk your home on stock investments?
you know the saying, only invest what you can afford to loose. will your wife or girlfriend think highly of you if forced to move back into an apartment, or even worse, back in with your parents?
my buddy tried to tell me the exact same thing, i told him i wilkl always have a spare bed for him to rent when he looses his shirt, home, car, and all worldly possesions.
i take comfort knowing that my home is 100% mine and the market can not take it away. if things get rough, i can rent out the empty rooms to cover expenses.
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