Refi and Home Finance

We think we are a typical American family. We’ve owned our home for a couple of years and bought our house during a time when we felt like we needed more space since our family had expanded the prior years. We have a minivan to drive our children around and pay monthly on the loan on the car and house. The bills come in each month and we are always surprised how quickly the pay check is spent. We save for the kid’s college education and have a small savings account for unexpected things that come up. With retirement savings and a small stock portfolio we took a hit in October as the markets began to collapse.

We recently decided that refinancing our home could give us extra money monthly for savings and paying off debt. Allowing us to capitalize on the recent low interest rates, we were drawn to refinancing due to the dwindling mortgage markets and the incentives mortgages companies are currently offering.

Like other American families, we are discouraged to see our stocks and investment dwindle to record lows so we felt like finding extra money in our budget could help us solidify our finances with relative ease. Refinancing is just one of the many options in working to gain financial footing in our troubling economy.

mirandarosen inquired:


I want to get some info on refi for my car. Any clues?

ml inquired:


When I first got my auto in March 2006 my interest rate was 17.9% I refinance in September 2006 with E-loan for a rate of 11.04% we recently bought a home and our finally establishing some credit. So I think its time to refinance again. Does anyone recommend a great place to get a great rate?
Thanks I really appreciate it!