I need a Job....

[hotrodpc]

Originally Posted by BernieB

Have you given any thought to refinancing the house? You might be able to get a better interest rate, and a lot of times when you refinance they let you skip a payment, or even two.

Yep gave thought to the refi, and a no go. I am on a great loan right now at 6% and no PMI, although I wouldn't anyway. I have plenty of equity, even in todays market, I am still well under 80% LTV (Loan to Value) ratio. Probably more like 70% LTV. So in the very bad event, I could sell and move out with a little cash in hand, but I know I will never own another house if I did, so I want to stay here and keep this loan, since the refi was going to add minimum $5K to the balance, and the rate would actually go up due to bad credit history the last 6 months. So that suggestion is not going to work. I really wanted to do the refi, and take out some cash and build my 30x40 building out back that I been wanting, and make a transmission repair shop out there. Not with the rate hike and adding fees, that is eating up my equity that could pay for the building, so I checekd a couple other mortgage companines and its about the same song and dance.

[BernieB]

Originally Posted by hotrodpc

Yep gave thought to the refi, and a no go. I am on a great loan right now at 6% and no PMI, although I wouldn't anyway. I have plenty of equity, even in todays market, I am still well under 80% LTV (Loan to Value) ratio. Probably more like 70% LTV. So in the very bad event, I could sell and move out with a little cash in hand, but I know I will never own another house if I did, so I want to stay here and keep this loan, since the refi was going to add minimum $5K to the balance, and the rate would actually go up due to bad credit history the last 6 months. So that suggestion is not going to work. I really wanted to do the refi, and take out some cash and build my 30x40 building out back that I been wanting, and make a transmission repair shop out there. Not with the rate hike and adding fees, that is eating up my equity that could pay for the building, so I checekd a couple other mortgage companines and its about the same song and dance.

Ah well, it was a thought but I can see that you already looked into it and it won't help in your case.

Maybe take in a boarder? A nice young college student or two?

[hotrodpc]

Great idea BB, and I have thought of that too. My house is set up, with masterbroom at one end of the house, then in the center is the Kitchen, Dining and Living area, then the other 3 bedrooms and bathrooms on the other end of the house. So I did think about renting the master bedroom on that side of the house, and I stay in a room over here, one room is my office, and the other room to be my guess room for when my kids come visit. Son is 13, daughter 21 so I thought it would work, but I sure like my privacy and have a problem trusting anyone. Hate doing biz with Friends and family, that is how you lose friendships sometimes. Then I got the house full of printers, so no can rent a room now anyway. But, I am making headway. Slowly, but it beats going further backwards. I rarely sleep now though. I think I get 2 or 3, 2-3 hours naps a day and that is my sleep. Working 5 jobs at one time right now. All are part time of course, and I do not do all 5 in one day either. No days off for sure. Projects are sitting and rusting for the time being.