Refinancing house...

[jinjuku]

I never want to owe family again. Thanksgiving dinner just doesn't taste the same. I'd get a real loan and refinance it to pay of your mom, but that's me.

Generally if you have to borrow from family it's because you can't get financed anywhere else.

 

[gholt]

Generally if you have to borrow from family it's because you can't get financed anywhere else.

Nah. I have three other mortgages with banks. I took the original mortgate I had with a bank and my mom become the bank so that she could get a higher interest than what she was getting at a bank or CD rate and it would cut the mortgage rate down for me without all the closing fees for refinancing. So, for the present time, it works.

 

[jinjuku]

Nah. I have three other mortgages with banks. I took the original mortgate I had with a bank and my mom become the bank so that she could get a higher interest than what she was getting at a bank or CD rate and it would cut the mortgage rate down for me without all the closing fees for refinancing. So, for the present time, it works.

Glad that it is working. All I know is I wouldn't lend most of my family any money. It would end up having to be a gift

 

[gholt]

Glad that it is working. All I know is I wouldn't lend most of my family any money. It would end up having to be a gift

Well, it hasn't work real well for some members of my family. I told my mom she should't buy a condo and then have my brother make payments to her. It hasn't worked out very well at all. But for the majority of the family, it has worked well. I'd rather not do it as sometimes a parent can hold it over you. If you're behind and buying big ticket items or taking an exoctic vacation. But It works right now.

 

[jinjuku]

I'd rather not do it as sometimes a parent can hold it over you. If you're behind and buying big ticket items or taking an exoctic vacation.

THEY SHOULD hold it over you. That is a problem with the way most people think. You owe someone a big chunk of change and go take an exotic (ie probably expensive vacation) you have something wrong with your though process and priorities.

 

[gholt]

THEY SHOULD hold it over you. That is a problem with the way most people think. You owe someone a big chunk of change and go take an exotic (ie probably expensive vacation) you have something wrong with your though process and priorities.

I agree completely. If you can't / won't make your bills, then you shouldn't be doing these things. I think this is one of the main reason(s) why people shouldn't borrow / loan family money. This becomes the first thing than happens. Then they stop paying altogether and the loan magically becomes a gift.

 

[Rickster71]

.... Then they stop paying altogether and the loan magically becomes a gift.

Magically, almost as if that was the plan all along.

 

[gholt]

Magically, almost as if that was the plan all along.

I think that happens all the time. People get notes for things that they truly can't afford. Then when things fall apart and they really can no longer afford it and they walk away.

I see now that on mtb and road bikes you can get financing either 12 months or longer. I bought a newer bike for me, but I have been saving my money for the bike for last 6 years and paid cash, but I think most people finance them. This is what I think was and iwill be the cause of our country's ultimate demise.

 

[Nemo128]

I got a 15yr 2.625% with Pentagon Federal CU. First home purchase should be going through in some weeks.

 

[jinjuku]

I got a 15yr 2.625% with Pentagon Federal CU. First home purchase should be going through in some weeks.

Hey Nemo, haven't seen you around for a bit. Good to see you.

And all I can say is a jaw dropping WOW. 2.625%. That's super good.

 

[Irvrobinson]

Magically, almost as if that was the plan all along.

That wouldn't work with me... perhaps that's why no one has ever asked me for a loan.

I won't loan tools either.

 

[ParadigmDawg]

I think that happens all the time. People get notes for things that they truly can't afford. Then when things fall apart and they really can no longer afford it and they walk away.

I see now that on mtb and road bikes you can get financing either 12 months or longer. I bought a newer bike for me, but I have been saving my money for the bike for last 6 years and paid cash, but I think most people finance them. This is what I think was and iwill be the cause of our country's ultimate demise.

That's more like it, lets talk about bikes.

I went over to the dark side and got a road bike last week. I used to hate road biking but it seems fun again.

 

[Cygnus]

I'm saving up for eight years or so to put a down payment on a house (or maybe a condo, I haven't decided, though I'm leaning towards a house) and am very excited.

 

[jinjuku]

That wouldn't work with me... perhaps that's why no one has ever asked me for a loan.

I won't loan tools either.

My dad keeps falling for that with my brothers. He'll never learn. I like how he actually gives my brother a $1000 truck cap. Later on my dad needs a hot water tank taken away. My brother won't do it

Seriously messed up.

 

[Nemo128]

Hey Nemo, haven't seen you around for a bit. Good to see you.

And all I can say is a jaw dropping WOW. 2.625%. That's super good.

Good to see you too bud, been a crazy year so far.

I work within the DoD so I'm eligible for Pentagon Federal CU. I've noticed they basically have the best rates of any bank, and their fees are super low. The only one I don't like is the 1% origination fee. We stacked up 25% to put down and both have stupid high credit, so we luckily qualified for the best rate.

My dad keeps falling for that with my brothers. He'll never learn. I like how he actually gives my brother a $1000 truck cap. Later on my dad needs a hot water tank taken away. My brother won't do it

Seriously messed up.

Sounds a lot like the family I disowned a decade ago.

 

[gholt]

That's more like it, lets talk about bikes.

I went over to the dark side and got a road bike last week. I used to hate road biking but it seems fun again.

Road biking is fun too. I have one of those but three mtb bikes. I probably need to start getting rid on one, but there are different bikes for different purposes.

 

[ParadigmDawg]

Road biking is fun too. I have one of those but three mtb bikes. I probably need to start getting rid on one, but there are different bikes for different purposes.

I seem to be turning every thread into a bike thread...

Moved my comments to "new bike 2 thread"