Home > Mortgage Search

Mortgage Search

May 25th, 2006 at 06:22 am

Today I put the wheels in motion to refinance the house. We want to put the current mortgage of $37,500 and our credit card debt of around $32,000 all into a new mortgage on our house. We will change it from a 15 year fixed loan to a 30 year fixed loan. By doing this, it will free up $200 a month for us to start saving for a new car. Because I don't know how much longer we can limp along with the two we have. I'm hoping a year or two, so we can save up as much as possible. One of the vehicles will go as a trade in, probably the Blazer as I don't think anyone in there right minds would buy it if we did a FSBO. It just costs too much in gas right now. Hopefully, we could get $2000 as a trade in. Its in great shape inside and decent shape outside.

Then we could keep the car as our back-up car. Although we went for a long time with only having one car and we did okay with it. So maybe we will sell it, too. I'm just not sure at this point. We have to be able to refinance first, which I don't think should be a problem, as we have a great FICO and no one knows about the mortgage on my parent's house they took to pay my medical bills, as its in their name. According to all of our stuff, we should have an extra $1000 of disposable income. Obviously, we don't as we pay that each month on that mortgage, but it doesn't really matter. We still would be fine.

I hope this is a quick and painless process, as I've never really dealt with internet mortgages before. But the guy I talked to seemed pretty straight-forward. I should have a quote by no later than Tuesday. Possibly by Friday, but I won't count on that, and wouldn't be around to get that call anyhow.

Doing this would make things so much easier, so I hope it all pans out.

5 Responses to “Mortgage Search”

  1. StressLess Says:

    We did an online refinance with ING a couple of years ago. We didn't see a live person til the day we had to sign the papers. It went pretty well, but I did find I had to make quite a few phone calls to make sure things were moving along. It did help our budget tremendously. Good luck with yours!

  2. fern Says:

    I understand your need for a car, but is there no other way than to extend your current 15-year mortgage payments ad infitum, to a 30-year yoke around your necks?

    It may 'free up' $$ now for the car, but the additional thousands upon thousands you'll pay in interest will be a greater burden than you imagine.

  3. LuckyRobin Says:


    Well, we won't be getting a brand new car for one thing. Neither of us has ever owned a brand new car. We will be getting something that is about 4 or 5 years old, that is smaller and gets better gas mileage, and we will keep it for a long time. Our current car is 14 years old and the Blazer is 10. We will be paying a down payment on it, and we will only be financing it for 3 years or so. We will be putting our income tax returns on it as they come as well. Because of a weird quirk at DH's work we get back $3500 a year. (We can't do anything to make that money come monthly because of how their payroll is set up, we've tried). Then when it is paid for we will add the car payment money back into paying down the mortgage faster and/or revert back to a fifteen year mortgage. We have our eyes wide open.

    We have to have one reliable car and its getting so they aren't.

  4. fern Says:

    OK, I understand.

  5. William Andrassy Says:

    To compete in the mortgage industry you need a well ranked website. We specialize in Search engine marketing within the mortgage industry. Our experts can provide the advertising packages your mortgage site needs to succeed in MSN, Yahoo, and Google.

    Put our expert knowledge to work and let us show you what your competition is doing to achieve top rankings and loads of qualified traffic.

    Search engine marketing is the perfect compliment to Pay Per Cick (PPC) and email advertising. Our techniques usually result in more traffic and higher conversion for less money spent.

    Give us a call or email us today

    We are looking for quality link partners to work with for our mortgage network
    We currently have 188 mortgage sites up and running and can provide high quality links back to the right sites.


    William Andrassy


Leave a Reply

(Note: If you were logged in, we could automatically fill in these fields for you.)
Will not be published.

* Please spell out the number 4.  [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]