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cdennisg
Samba Member
Joined: November 02, 2004
Posts: 20278
Location: Sandpoint, ID
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 Posted: Thu Jul 18, 2019 1:46 pm Post subject: Re: My first time refinancing... |
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| bluebus86 wrote: |
| calvinater wrote: |
Dude $612 / month is nothing. What are wages like down there? Oops forgot
Walmart. With your knowledge of electrics you should install car stereos on the side. |
On which side, left, right, front, or rear?
Bug On! |
Doesn't matter, as long as you have fader and balance controls. 
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skills@eurocarsplus
Samba Peckerhead
Joined: January 01, 2007
Posts: 16883
Location: sticksville, ct.
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| Posted: Thu Jul 18, 2019 2:33 pm Post subject: Re: My first time refinancing... |
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interesting spot you're in for sure.
stay the course...you'll get there. no joke, I rolled change to buy a car to get to work...200 in 1's and 5's and 200 in change. 89 diesel jetta. was an epic turd, but it did the deed.
it may seem impossible...but if you have any willpower you can do it. don't buy stupid shit....try to live on the cheap...like reusing paper plates cheap. sure, your quality of life will suck for a bit but it's only temporary.
can't tell you how many months I lived on beans and hot dogs....you do what you have to do.
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| gprudenciop wrote: |
my reason for switching to subaru is my german car was turning chinese so i said fuck it and went japanese....... |
| Jake Raby wrote: |
| Thanks for the correction. I used to be a nice guy, then I ruined it by exposing myself to the public. |
| Brian wrote: |
| Also the fact that people are agreeing with Skills, it's a turn of events for samba history |
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TDCTDI
Samba Advocatus Diaboli
Joined: August 31, 2013
Posts: 12858
Location: North Carolina
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| Posted: Thu Jul 18, 2019 2:59 pm Post subject: Re: My first time refinancing... |
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Look into the 15 year option. Doing the refi & getting rid of the PMI without adding any more to the principle might shorten your term by 5 years & get you below your current payment, that would seem like a win/win.
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Everybody born before 1975 has a story, good, bad, or indifferent, about a VW.
GOFUNDYOURSELF, quit asking everyone to do it for you!
An air cooled VW will make you a hoarder.
Do something, anything, to your project every day, and you will eventually complete it. |
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marklaken
Samba Member
Joined: March 19, 2004
Posts: 2416
Location: fort collins, CO
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| Posted: Thu Jul 18, 2019 3:47 pm Post subject: Re: My first time refinancing... |
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I'd take the 30 year rate with the $2k cash, pay off the IRS, pay off the credit card, then save extra into your 401k with every intent to borrow from the 401k for a down payment on a second house and convert your current house into a rental within the next 10 years.
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Wish List:
1967 Wesfalia SO-42 Parts Needed: Kitchenette, Cot Poles
'65 rear left beetle fender
15" Bus Wheels in fair condition
Mark Laken
Fort Collins, CO |
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my59
Samba Member
Joined: August 13, 2003
Posts: 3793
Location: connecting the dots
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| Posted: Thu Jul 18, 2019 4:04 pm Post subject: Re: My first time refinancing... |
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| jspbtown wrote: |
Haven't read each post in detail but your last chart grabbed my attention....
$99 a month for property taxes? Damn...….I pay close to $500 a month for property taxes. I am sure a NY'er will chime in as well.... |
When I had a 2800 sf house in Brooklyn on a 20 by 100 lot, the taxes in a shit school district were about 3500 a year.
Relocated when the oldest had to start school to a 1200 sf house on a 1/4 acre lot with a good school district, taxes were....3500 a year.
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my59: Well son, my grandfather died before I got to drive it, so does that answer your question?
our79: sunroof bus w/camper interior and 2.0 FI
Other:'12 Jetta, '77 Benz 300D, and a 74 MG Midget. |
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cdennisg
Samba Member
Joined: November 02, 2004
Posts: 20278
Location: Sandpoint, ID
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| Posted: Thu Jul 18, 2019 6:20 pm Post subject: Re: My first time refinancing... |
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| marklaken wrote: |
| I'd take the 30 year rate with the $2k cash, pay off the IRS, pay off the credit card, then save extra into your 401k with every intent to borrow from the 401k for a down payment on a second house and convert your current house into a rental within the next 10 years. |
This, but reconsider if you want to deal with rental property when the time comes.
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sb001
Samba Member
Joined: May 19, 2011
Posts: 10406
Location: NW Arkansas
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| Posted: Thu Jul 18, 2019 9:33 pm Post subject: Re: My first time refinancing... |
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| marklaken wrote: |
| I'd take the 30 year rate with the $2k cash, pay off the IRS, pay off the credit card, then save extra into your 401k with every intent to borrow from the 401k for a down payment on a second house and convert your current house into a rental within the next 10 years. |
This is pretty much the decision I have made- the problem with the 15 year refinance is the higher monthly payment I would be REQUIRED to come up with every month, vs the 30 year where I can always pay more from what I am saving each month toward the loan principal but if something comes up where I need emergency cash it's there.
I have a 403b that's valued at approx $52k at the moment. But with this monthly savings it appears I should be able to contribute more out of my paycheck.
Not sure about the second home/ rental idea I'd have to look into that more.
_________________
I'm the humblest guy on this board.
1969 autostick sedan, family owned since new
1600 SP engine
Solex 30 PICT 3 carburetor
Bosch 113905205AE autostick distributor |
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sb001
Samba Member
Joined: May 19, 2011
Posts: 10406
Location: NW Arkansas
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| Posted: Thu Jul 18, 2019 9:36 pm Post subject: Re: My first time refinancing... |
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| calvinater wrote: |
Dude $612 / month is nothing. What are wages like down there? Oops forgot
Walmart. With your knowledge of electrics you should install car stereos on the side. |
$612 is the NEW payment not what I'm paying now.
You need to go back and read the whole thread, I discussed this very topic.
Car stereos is nowhere near a profitable venture anymore, you'd have to go back to 1986.
_________________
I'm the humblest guy on this board.
1969 autostick sedan, family owned since new
1600 SP engine
Solex 30 PICT 3 carburetor
Bosch 113905205AE autostick distributor |
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