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Retirement Discussions / Retired Fools
|Subject: Re: Tight retirement||Date: 11/29/2001 4:27 PM|
|Author: Tomcat98||Number: 7562 of 19738|
Sorry about that. I hit the wrong key.
1. Your mom wants to stay in the house.
2. Is healthy and fairly young.
3. Having military retirement also meaning medical care (-) the deductable.
That house payment is a pretty big amount. I would definately try to get that lower. You must look at the costs of doing this weighing it against time to recover. Maybe using some of the 80K to pay down a little when I did refinance. Use the rest to pay off the remaining bills. You could leave a little for emergencies, but there is a lot of equity in that house that could be used in a pinch. I recently got a home equity line of credit for 4.7%. Its .3% lower than prime and moves with prime.