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Tagged With "Credit Scores"

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Re: If you could squash one of your bad financial habits today — without having to work hard at it — which one would you choose?

Babsie ·
I score five out of six of these habits. I would like to squash them all.
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Re: The interest rate on your mortgage is 6%, and you plan on staying in your current home for a long time. Your financial advisor says it’s a great time to refinance. Go or no go?

AnnieB ·
Depends on how much equity you have in the house, what the costs of refinancing are, your credit score, what the rates will be, and what the break even time frame will be. Break even time frame = costs of refinancing vs reduction in the loan. How quick before you get that money back in lower interest rates? If your rate is 3-4%, then you'll recoup the costs quicker than if it was 5%. Also depends on the type of refinancing. Are you going 30 year to 30 year? Are you going 30 year to 15 year?
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