Buying or Selling a Home | Forum profile

Somewhat interesting article: http://www.bankrate.com/elink/news/financial_liter acy/invest... Christina

"Paying off your mortgage early will save thousands of dollars, and you'll get a reliable rate of return on your investment (you save the interest you would have paid on your mortgage). Yes, you'll lose the mortgage interest tax deduction when that happens. But if you're in the 25% tax bracket, for example, you'd only get back a quarter for each $1 in interest you pay -- not such a big ...

About a month ago I got a statement from CitiMortgage that I have an escrow shortage and they are raising the amount I have to pay each month to cover the shortage (or, I could pay the whole thing at once instead). I called to see if I can cancel the escrow requirement and the representative checked to make sure I qualify, and I did, as long as I pay a $488 cancellation fee (apparently ...

One wonders if you could buy your own mortgage at a discount and effectively pay it off for less than you owe? I suppose the question is theoretical for most people, but if I could buy my mortgage at some significant discount, I may try to do it.

I have a Libor based ARM that resets in January but the rate was locked in mid October when Libor had just about topped. Now with Libor coming down, is there a way to have BOA reset it at the lower rate? Or am I stuck and should look to refinance? It's based on the 1-year libor and resets every 12 months.

Thanks so much for this input! I thought I was being too fussy thinking that the addition looked . . . well, like an addition. And you're right - the traffic flow is a related problem. It's not awful, but it's good to know that it's a legit concern. Thankfully, it's a slow (make that very slow) market. I can't imagine what it's like to need to make such big decisions so quickly. ...

Still seems foolish to me. http://www.ricedelman.com/cs/education/article?art icleId=232...

You have an asset which has been declining in price. Supply has been growing and demand decreasing. You have a reasonable expectation that this trend will continue for at tleast the next few months. You want to sell; so what do you do. First you sell as soon as possible. The item is decreasing in price and you have money tied up in that item. Maybe you are even paying interest on ...

I'm stuck in ambivalent mode. At the edge of a life-shift cliff... I'm in 50s, DH in 60s. Looking for help thinking things through. NYC friends point out all we'd lose if we go. PA friends point out all we'd gain. We are very unsure. A house in NYC area just came up that is somewhat in our price target range, so we are having to think fast. Our choice is as follows: 1) Stay in NYC ...

The truth about the cause of the current mortgage crisis: http://boards.fool.com/Message.asp?mid=27144157&bi d=&amp... RB1

I have a Libor based ARM that resets in January but the rate was locked in mid October when Libor had just about topped. Now with Libor coming down, is there a way to have BOA reset it at the lower rate? Or am I stuck and should look to refinance? It's based on the 1-year libor and resets every 12 months.

One wonders if you could buy your own mortgage at a discount and effectively pay it off for less than you owe? I suppose the question is theoretical for most people, but if I could buy my mortgage at some significant discount, I may try to do it.

"Paying off your mortgage early will save thousands of dollars, and you'll get a reliable rate of return on your investment (you save the interest you would have paid on your mortgage). Yes, you'll lose the mortgage interest tax deduction when that happens. But if you're in the 25% tax bracket, for example, you'd only get back a quarter for each $1 in interest you pay -- not such a big ...

Somewhat interesting article: http://www.bankrate.com/elink/news/financial_liter acy/invest... Christina

About a month ago I got a statement from CitiMortgage that I have an escrow shortage and they are raising the amount I have to pay each month to cover the shortage (or, I could pay the whole thing at once instead). I called to see if I can cancel the escrow requirement and the representative checked to make sure I qualify, and I did, as long as I pay a $488 cancellation fee (apparently ...

Thanks so much for this input! I thought I was being too fussy thinking that the addition looked . . . well, like an addition. And you're right - the traffic flow is a related problem. It's not awful, but it's good to know that it's a legit concern. Thankfully, it's a slow (make that very slow) market. I can't imagine what it's like to need to make such big decisions so quickly. ...