Quote:
|
Originally Posted by loveajax
I am so bummed, because we were told we could not re-fi unless we had 20 percent equity in our home. Since the housing market here has crashed an burned, we don't have it any longer. I think that sounds like a good rate, but dang! anything under 5 is unheard of...good luck!!
|
That is a good point. We were just reassessed by the town and lost 30K in home value. Good for taxes, not so much for resale or refi.
We have the home equity loan on top of that too...so really we've got about 50K more than the house is worth held against it.
See I think the housing slump will effect the adoption market in a major way because so many people use home equity loans to pay for the adoption till their tax credit comes through. That's what we're doing. When we get the tax credit we're paying off CC though, cause I have a feeling once we pay off the home equity line they will reduce it given the reduction in the housing market...
__________________
Our journey... http://callahancrew.blogspot.com/
Unless someone like you cares a whole awful lot, nothing is going to get better. It's not. ~Dr. Seuss
10/07 - We start home study visits, requirements, and paperwork!
12/07 - Approved to adopt.
01/28/08 - Tyler is in our arms! He is less that 48 hours old!
11/15/08 - FINALIZE in St. Louis on National Adoption Day!
06/22/09 - Maybe we should do this again? 
06/25/09 - Start the official paperwork to update our home study and make Tyler a big brother. 
07/13/09 - Match with a 2.5 month old baby BOY! 
07/28/09 - Matty is in our arms!
Created by MyFitnessPal.com - Free Diet Plans
|