January 4, 2007
towards refinancing the house
Now that we’re able to live in the entire house, we’re considering refinancing the house to clear some house-related debt and free up some money for some future projects.
We dug a hole a while back with the getting the back porch rebuilt and central air installed. Since then, we’ve managed to almost pay-as-we-went for this past summer’s siding and painting, drywall installation, and getting the floors refinished.
We’re starting to become shackled by the damage that we did to our credit cards before, though, so we really want to get everything levelled again. What will make this work out for us is how little we actually owe on the house, considering. After refinancing we’ll still have a realtively low payment and decent chunk of equity still left (assuming that the house now assesses anywhere close to what we’d like).
So we’re talking to the refinancing folks and imagining a world without credit card debt and it looks ok…
wow, that sounds great. You guys have been smart! I’d be interested to hear how the process goes. I dont know anything about that sort of thing.
mc — I’ll try to describe the process as it unrolls. Right now we’re gathering information, talking to a few different folks that offer the service.
Now that you have made some significant progress on the entire house, I would love to see a blog entry showing b/4 and after photos showing all parts of the house that have been improved to date. Obviously, you have shown progress all along, but it would be great to see it all together too!
I know nothing about this stuff, but would just throw in a caution re any city grants and/or tax breaks you might be presently using or eligible for. Good luck, and ditto on Lori’s comment.