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MaryB7687
Joined: 02 Apr 2005
Posts: 5
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 Posted: Sun Apr 01, 2007 2:02 am Post subject: Continue for “Mortgage money and college money?”? |
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| Do I have to spend the money in year 2007? Because the government will use year 2008 tax return to determine a family’s financial capability. Most of my money is in high interest rate CD and will mature in year 2008. I want to collect the interests in year 2008; then put them into my mortgage as principal. I have not thought to refinance my mortgage yet. I do not know should I continue to benefit the current low rate mortgage, which I can save more and wait to see what will happen in year 2010 (the time, either mortgage rate goes very high, I have to refinance or the mortgage rate is OK, I stay in my current mortgage agreement. It is a gambling), or refinance now. Is getting a loan for my daughter’s college education a good idea? I hate to borrow money in general. I might change job after my daughter goes to college. That means I might have to change location and sell the house. But truly I do not what will happen in the future several years. reminder: "I have a 5/1 ARM mortgage.. |
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cheri3609
Joined: 05 Feb 2005
Posts: 5
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| Posted: Wed Apr 18, 2007 3:43 am Post subject: Continue for “Mortgage money and college money?”? |
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| apply for financial aid.If you do loans, they should be in your daughter’s name. This way, if she quits college, you are not paying the loans for the next 10 years.If you want to actually pay the loans, OK, but keep them in her name. |
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REALTOR9922
Joined: 29 Oct 2006
Posts: 5
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| Posted: Sat May 05, 2007 5:24 am Post subject: Continue for “Mortgage money and college money?”? |
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| get help friend |
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