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Old 06-14-2013, 12:54 PM
 
833 posts, read 1,886,305 times
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Quote:
Originally Posted by carryyourbooks View Post
not everyone is paying via mortgage. some homes have increased in value since purchase. the increase in value will pay for the other house you are moving into potentially.

in our situation, we got of a high interest rate (7.75%) and will be starting a new mortgage with a very low interest rate (3.25%).
Not understanding your logic here? You say the increase value will pay for the other house but yet you note that you had to take a mortgage on your new home? Could you have not done a refi on your current mortgage and got a 3.??%?
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Old 06-14-2013, 04:17 PM
 
Location: KATY, TX
243 posts, read 799,724 times
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Quote:
Originally Posted by jtothemak View Post
Not understanding your logic here? You say the increase value will pay for the other house but yet you note that you had to take a mortgage on your new home? Could you have not done a refi on your current mortgage and got a 3.??%?

it doesn't apply to my house. my home hasn't fully recovered from the hit it took in 2008. i had an older home (1981) on the north side of the freeway. i could have done a refi, but the roi would not have equalled out due to my quick moving out. i wanted to sell last year and move, but didn't due to self employment red tape that i have to go through to get a house. most of the houses near me haven't appreciated like the ones in cinco ranch.

plus, we out grew our house. we had a three bedroom and need a four.
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