home refinancing

Submitted by Anonymous (not verified) on Wed, 09/06/2006 - 10:12

last year my husband and i purchased an older home with asbestos siding . for appearance as well as maintenance sake we took out a second mortgage to have the siding covered with a vinyl siding , it substantially reduced our energy costs (we spent less than $400 heating our homelast winter) . well i want to know when the mortgages can be combined and other repairs can be made that can make our home improvements tax deductible......the second mortgage is through a private company and that was arranged through the contractors , the primary mortgage is a pity mortgage through fha. we pay biweekly on the primary mortgage but the second mortgage is a monthly one.....at this point our finances are getting tight because we are paying for home improvements and repairs with a credit card that was included in the second mortgage.(we did not budget for repairs when we got out mortgage)

You would have to check the terms of both mortgages to see if there is any pre-payment penalty for refinancing. Some lenders, depending on the type of loan will have a prepayment penalty if it is refiancned within a certain time frame. Your second mortgage may have that, if it is tied to a credit card.

Once you have determined if there is a pre-payment penalty, then you will know what you will be able to do. I would strongly suggest talking with a tax advisor to find out if the interest on the credit card you are using for additional home improvements is tax deductible.

Since your finances are getting tight, I would suggest stop using the credit card until you can get an answer. It sounds like the credit card was a means of enticing you and your husband to select this particular lender for your second mortrgage. I would pay of the credit card as quickly as you can and use any extra money for your home improvement. It may cost you far less in the long run, even though it may take you longer to complete your remodel.

Wed, 09/06/2006 - 10:19 Permalink
Anonymous (not verified)

thanks justin

Wed, 09/06/2006 - 10:22 Permalink

Yes, definately only do what you need to do on the credit card. You work hard for your money and need to be able to make it with out the stress of trying make ends meet. Once you get the necessaries done and paid off, you can splurge on what you want to do. It is really tempting to borrow and do it all at once, but you don't want to be struggling either. Goodluck

Sat, 11/03/2007 - 21:36 Permalink

Be very careful of credit cards....I know this from experience. very easy to get into the mindset oh i'll pay that off later but later comes and goes and the interest just accumulates big time. i learned my lesson after consolidation and will never put our family what i did a few years ago. thank goodness i have a very understanding husband who NEVER ONCE made me feel bad about my mistakes even though he was affected by them. i'm not so sure im that strong. it took two of us to get through it. so now we try to pay off our cards. i have to say they are nice with the holidays coming up but i'd much rather be looking at my situation in January and say 'oh i paid off my debt' rather than trying to come up with ways to pay for months on end

Wed, 11/14/2007 - 12:52 Permalink

Are we married to the same man debtstinker? Mine don't like to hear bad news, but he don't flip about it either, less stressful, huh.

Thu, 11/15/2007 - 02:28 Permalink

hey guys you opened a very old thread. that was in 2006 i can see. :)

Thu, 11/15/2007 - 04:07 Permalink

Still a good conversation going on here about the credit cards. Is it ok to open an old thread if the content still pertains to something worth discussing, don't know, just curious? or is it better to open a new thread completely. Could you shed some light Laura, what are your thoughts?

Sat, 11/17/2007 - 13:31 Permalink

I think it is ok to pull an old thread instead of building a new one if the information is relevant and worth discussing again. But on the other hand guess you could always start a new one, I don't think there is any hard and fast rule on this.

Sat, 11/17/2007 - 15:54 Permalink

Hey we can continue the discussion here as well. :)

Tue, 11/20/2007 - 05:47 Permalink
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Thu, 06/12/2008 - 22:13 Permalink

It is looking like it. I can see that this is an old thread but I am actually glad someone has pulled it. I was in the very same position jut months ago and could have used a post l;ikke this.

Tue, 07/29/2008 - 15:11 Permalink
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5 ways for you to Tell If a Girl Likes You

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Wed, 07/31/2019 - 00:43 Permalink
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people looked at data collected from the well known National Health Interview Survey between 2001 2002 and 2010 2011. In the survey, Parents were asked to fill out a questionnaire indicating if their children had any health disadvantages such as speech and language disabilities, add, cerebral disabilities, And/or over emotional and behavior problems.

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Wed, 12/04/2019 - 11:01 Permalink
Tracy Allen (not verified)

I checked my scores some couple of weeks ago, they ran down in the low to the mid 400s. I was struggling having a hard time getting approved for anything due to a layoff I had last year so I fell behind on my bills and now I am struggling trying to get my score back up so I can purchase a home. I surf the internet in search of help and I met with AUTOLINKS CREDIT SERVICES and I explained to them my credit situation and they promised to help me get my scores back on track so I can be qualified for the home purchase. After some couple of days later, they cleared the bills on my credit profile and effected the changes across all 3 credit bureaus and finally raised my scores to 793. I bought the house after a week and I am very happy today with my family. You can contact them and have them fix your credit issues as fast as possible. Contact via: autolinkscreditservices@hotmail.com / +1 (520) 800-6528 .

Thu, 12/12/2019 - 14:29 Permalink
Tracy Allen (not verified)

I checked my scores some couple of weeks ago, they ran down in the low to the mid 400s. I was struggling having a hard time getting approved for anything due to a layoff I had last year so I fell behind on my bills and now I am struggling trying to get my score back up so I can purchase a home. I surf the internet in search of help and I met with AUTOLINKS CREDIT SERVICES and I explained to them my credit situation and they promised to help me get my scores back on track so I can be qualified for the home purchase. After some couple of days later, they cleared the bills on my credit profile and effected the changes across all 3 credit bureaus and finally raised my scores to 793. I bought the house after a week and I am very happy today with my family. You can contact them and have them fix your credit issues as fast as possible. Contact via: autolinkscreditservices@hotmail.com / +1 (520) 800-6528 .

Sun, 12/22/2019 - 12:05 Permalink
Mila Henry (not verified)

Merry Christmas guys, contact: autolinkscreditservices@hotmail.com or +1 520 800 6528 , for credit repair, they made me smiles again. I was evicted for some couple of months, then I went surfing the internet and find AUTOLINKS CREDIT SERVICES, I contacted them ASAP and they boosted my bad credit score from 368-780 within 5 days. They cleared all negatives on my report even gave me good trade lines for loans. Thank you AUTOLINKS CREDIT SERVICES I will keep recommending you to the world. Thank you once more am very happy, I now have my own home.

Wed, 01/01/2020 - 19:03 Permalink
Austin Benedict (not verified)

Happy to have honored my mother in-law’s invitation last week for she helped introduce me to 760PLUS CREDIT SCORE who did a wonderful job by clearing all bad credit records on my profile. I contacted him on phone, we had a deal after our discussion and agreement, he increased my low credit score from 458 to 802 in less than a week removing all hard inquiries, charge offs and eviction after I narrated to this hacker on how I lost my wife and 2 children to fire accident that claimed their lives on 18th Nov, 2018. Life became difficult and sad for me back them. Am just happy I got my credit fixed even when the pains of losing my family is irreplaceable but I must appreciate his good works and thanking my mother in-law for her relentless support to me. CONTACT VIA: 760PLUSCREDITSCORE@GMAIL.COM or text +1(304) -774 -5902.

Mon, 01/20/2020 - 23:04 Permalink
Bodaway Cliff (not verified)

760PLUS CREDIT SCORE is reliable and efficient credit company to work with. A Colleague recommended 760PLUS to me after I confided in him about my poor credit situation. I contacted them immediately on +1(304) -774 -5902 and they increased my low credit score from 420 to 810 in less than a week. Removing all hard inquiries, charge offs and eviction. Guess what? They even added some positive trade lines to my report. I want you to contact them, they can help you. Here is their email: 760PLUSCREDITSCORE@GMAIL.COM /+1(304) -774 -5902. Cheers. Don’t forget to mention my name when you text.

Tue, 01/21/2020 - 00:31 Permalink
Gilbert Paul (not verified)

I’m happy to share my experience with people on how I got my credit fixed. I almost lost my family’s happiness because I couldn’t pay my daughter’s medical bills last year. My credit was 425 and was also struggling with eviction before now, there were other negative items on my report such as IRS and delayed payment. My wife discovered 760PLUS CREDIT SCORE online and everything got better. They helped us after narrating our predicaments and also meeting their demands. They cleared our eviction and IRS and also upgraded our score to 790. I’ll recommend 760PLUS CREDIT SCORE to anyone who genuinely needs help. You can contact them via 760PLUSCREDITSCORE@GMAIL.COM or text +1(304) -774 -5902. Thank me later!

Sat, 01/25/2020 - 19:46 Permalink
Gilbert Paul (not verified)

I’m happy to share my experience with people on how I got my credit fixed. I almost lost my family’s happiness because I couldn’t pay my daughter’s medical bills last year. My credit was 425 and was also struggling with eviction before now, there were other negative items on my report such as IRS and delayed payment. My wife discovered 760PLUS CREDIT SCORE online and everything got better. They helped us after narrating our predicaments and also meeting their demands. They cleared our eviction and IRS and also upgraded our score to 790. I’ll recommend 760PLUS CREDIT SCORE to anyone who genuinely needs help. You can contact them via 760PLUSCREDITSCORE@GMAIL.COM or text +1(304) -774 -5902. Thank me later!

Sat, 01/25/2020 - 19:47 Permalink
Gilbert Paul (not verified)

I’m happy to share my experience with people on how I got my credit fixed. I almost lost my family’s happiness because I couldn’t pay my daughter’s medical bills last year. My credit was 425 and was also struggling with eviction before now, there were other negative items on my report such as IRS and delayed payment. My wife discovered 760PLUS CREDIT SCORE online and everything got better. They helped us after narrating our predicaments and also meeting their demands. They cleared our eviction and IRS and also upgraded our score to 790. I’ll recommend 760PLUS CREDIT SCORE to anyone who genuinely needs help. You can contact them via 760PLUSCREDITSCORE@GMAIL.COM or text +1(304) -774 -5902. Thank me later!

Sat, 01/25/2020 - 19:48 Permalink
Ryan Havila (not verified)

My husband and I had some couple of negative items with relatively low score that disqualified us from everything. So we searched for a credit expert on credit magic to help us fix our credit score, we agreed to trust 760PLUS CREDIT SCORE after we have read good reviews and trusted recommendations from people about him, we explained the negative items on our report to him and he gave us a period of one week. Eventually, we finally got an excellent result within 7 days .Our score were increased to 780 and 805 respectively .All debt were marked as paid, late payment appeared as on time payment and other negative item were deleted. I recommend the hacker to people that want to fix their credit problem. Write him via: 760PLUSCREDITSCORE@GMAIL.COM or text 1(304) -774 -5902.

Sun, 03/01/2020 - 05:53 Permalink