Tuesday, May 12, 2009

Need advice...

Alright, I need advice. For the last two hours, my parents have been sitting at the dining room table pouring over spreadsheets and talking with strange numbers to each other and on the phone... I figured I would help them make the decision and get it over with. My parents bought our house almost four years ago, and the interest rates weren't as good back then. After making some calls today, they can refinance and get 1.75% lower. But now they can't decide....do they do a 15 year loan - which would get the house paid off while my sister and I were still in high school OR do they do a 30 year loan and make the payment the same as the 15 year loan, which would still pay the house off in the same time frame, but give them room to make a smaller payment if they can't afford it all one month?

It's funny to listen to them. Dad can't figure out which is best...and Mom is working the computer and putting all the numbers in when Dad gives her more figures...

Who knows.... All I know is that I have to sit through one more night of Dancing with the Stars here in two minutes since my Mom and Sister are addicted.......

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