Just and FYI:

If you have a high interest rate on your current mortgage (and your home value didn´t sink too sharply). Look into refinancing now. The rates are the lowest that I´ve ever seen them. (Lowest I saw in my area prior to now was 5.5%.

 

UMM banks are not lending to the public anymore. People that have high interest loans will not qualify thats why they got high interest loans in the first place. Goverment bail out is the only way most people will reduce their payments.

I feel like such a fool for locking in my mortgage for 30 yrs and paying on time each month. I will have to weather the storm.

 

Banks are lending....just to "qualified" people...and it's worth looking into, regardless.

There is no harm in checking.

 

Well, Home Ownership is not for everyone. The only people who truly make money on home ownership are those that buy them as investment properties (renting them out)

The ONLY reason to buy a home IMHO is if you plan on living there for long periods of time (7 years or more), but that comes with more expenses then renting. It really depends on what you prefer.

 

Be like my neighbors...their honey do list is a list of things for me to do.

Edit:

It goes like this...my neighbor is looking at his tractor trying to figure out why it doesn´t move when in gear. His 5 yr old is watching him and makes very logical suggestions to him...so my neighbor checks them.

The 5yr old sits there and says...
"Hmmm...I KNOW dad...ask Nick...he´s a genius."

 

Doesnt refinancing hurt your credit?

 

Hurting credit? It will show the old mortgage being paid off which is good.

The credit check takes a very small ding against your credit (as long as you don´t have a lot of checks). Mortgages are usually good for you.