Feds have lowered interest rates and PRIME is now 3 1/4% ... that means my current line of credit is 2 1/2%!!! Holy smoke!!!! My first mortgage is 5.75% fixed, my line of credit ($500K with a balance of $90K) is Prime minus 3/4. Woohoo!!
Ok folks. IF you are in a higher interest mortgage, you MAY want to start looking at the possibility of refinancing. Some of you may have to pay money at closing but if it will lower your interest rate (or even lock in your interest rate) it may be well worth it for the rough financial ride we have ahead. It does not hurt to inquire. Start making your phone calls. If your current lender will not refinance, start looking around to other banks. JPMorgan, Chase, Countrywide, ING Bank, PFG, and so on (these are just ones that come off the top of my head). My theory in life has been if those you are loyal to are not loyal to you, find a new person who will be.
I work in real estate law and deal with mortgages & all every day. I hear the sad sad stories of those who are losing their homes. I hear the sad stories from the lender that if you are currently making your mortgage payments, they can NOT rework your loan (after all, you are showing the ability to currently repay under the current terms). The housing bubble is not quite over yet. Not to mention all the other things on the downward spiral. Things will be tough, I bet until mid 2010 if not later.
Anyways, this was not to be a doom & gloom post ... but rather a moment of rejoicing on my side!!
Smelly Shoe Fix!
Honestly, we have real good hygiene habits in my house, I can assure you of that! But, lets face it, living in paradise with 125% humidity can be a little trying sometimes ... my running shoes (which have NOT seen much running action for quite a while) get a little ripe smelling ... and oh man, you should smell the shoes that Hubby wears outside in the yard, patio, garage and boat that constantly get wet ... enough to suck the oxygen right out of your body ... whew! Then you have the Boy ... who works out pretty darn hard and doesn't always wear socks, nor does the Princess ... I mean, seriously, I've had to throw shoes away because you could smell them just sitting there. No one wants to be the person that people are wrinkling their nose at when they are walking by you! So when I saw the featured post for the Smelly Shoe Solution (and dang, I'm still trying to find the original post because I had no need to bookmark it, such a simple fix!) Yes. That's IT!...
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