My sister told me that she sometimes wishes that she is not living in Tennessee. She said that her former colleague happily told her that she will own her home earlier than my sister because she gets to pay it off faster.
If you have been reading my blog, you would know that my sister was one of the new first time homeowners who committed themselves to a home loan when the interest rate was at its peak recently and although her former colleague also bought a home around the same time, she lives in Oregon where the interest rates were different and now, the interest rate dropped even further and she took full advantage of it by applying for an Oregon mortgage refinance.
My sister said that if she if she lived in Oregon right now, she too would take out an Oregon mortgage refinance but unlike the former colleague, she would not be using the money on home remodelling and improvement projects but will plough back the money into the repayment of the home loan.
I certainly understand her anxiety in trying all options to lessen the burden of her home loan. It is no fun having the loan hanging over their hands each time they wanted to treat themselves to some thing just a little more expensive.
If you have been reading my blog, you would know that my sister was one of the new first time homeowners who committed themselves to a home loan when the interest rate was at its peak recently and although her former colleague also bought a home around the same time, she lives in Oregon where the interest rates were different and now, the interest rate dropped even further and she took full advantage of it by applying for an Oregon mortgage refinance.
My sister said that if she if she lived in Oregon right now, she too would take out an Oregon mortgage refinance but unlike the former colleague, she would not be using the money on home remodelling and improvement projects but will plough back the money into the repayment of the home loan.
I certainly understand her anxiety in trying all options to lessen the burden of her home loan. It is no fun having the loan hanging over their hands each time they wanted to treat themselves to some thing just a little more expensive.
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