Car Loan

[heidrek]

You're home loans of 420K are a bit of a concern to me - wehat sort of rate do you have them on? Are they due to roll over soon?

In the current climate you may have to come up with equity at renwewal in order to avoid being penalised for having low eaquity in the property.

[LivingAlmostLarge]

DS, haven't fully convinced my DH about a used versus new car. The extra cash I was thinking of beefing up the EF even more.

cschin, $30k is 6 months of expenses, we have just about $30k. And our mortgage is $2200/month, you can't rent in the area for that much. Interest rate is 4.25%. Beating the 6.8% is getting a lower interest rate. The stock taxable fund is to pay off the student loans, so we would only have the mortgage. Or we could use the money to buy a car cash outright and leave the student loans, does this make sense the question?

Herdiek, what is a rollover of mortgage? We do not have low equity, we put down 25% and currently have about 30% I would guess in equity. What is equity renewal?