Refinance or not?
Well its been a couple of years since I posted this question. Would you all like to know what happened?
Yes, we refinanced the house and got a 5.25% 15 year note for $75,000.
This is how things are now.....
We are debt free except for our home. We currently owe $47,000 on the house worth over $150,000.
I kept my extra jobs, still work them today. Currently have 5 jobs. We are putting 25% of our regular jobs (full time) into 401K. I still have my nice car that everyone wanted me to sell, plan to drive it another 10 years. We still have the same truck as before. We also own a hot rod car worth $35,000 (paid for) my husband built it himself.
I plan to work one of the part time jobs for the rest of 2008 and then I'm stopping. Plan to keep the other two and my small business for a while longer because they are super easy and love the work. My husband plans to retire at the end of this year, I would like to be home more with him.
As for the son who put us in this mess? Well, he hasn't paid much. Was diganosed with Bipolar Disorder which explains his total lack of finance abilities along with other issues. He is a financial mess and we don't help him with finances at all anymore. He is currently in the army which keeps a roof over his head and food in his belly. We love him but won't partake in his financial troubles ever again.
I think we have done fantastic! We are paying extra on the mortage every month and it should be paid off completely in 5-6 years even with my husband retiring.
Yea for us! Thanks for everyones support and advice. It was as a great help!
Good luck to all of you!
D.
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