This being a slow weekend and Wife not wanting to go anywhere had my mind wandering. I had thought about the idea of refinancing and maybe borrowing some equity to pay off the last of our credit debt. I had talked to Wife about doing this and she always automatically says no. She doesn't want to stir the status quo, and wants to continue on the straight and narrow quietly. My thought is that I have wanted to go to a 15 year note for awhile now. We are at a point where we have taken care of most of our credit debt and if we could do this, then we could finish paying for our house before I turn 65. I can't say we'll be here tomorrow or whether any of us will still be employed in the near future, but paying off the house sooner has to be a good thing.
Looking up on Zillow, a website specializing in showing houses for sale with their theoretical valuations shows our house in the upper $480,000 range. The county appraisal shows the value of our house in the $420,000s. Being that we owe something in the $290,000, this should mean we can borrow a nice amount to pay off some other debts. After explaining this to Wife, she sort of said she would ultimately trust me if I wanted to pursue this. I started very simply by filling out the Lending Tree questionnaire online including putting my email and phone number. Before I was done, I already had a call from a mortgage company, a real person. I explained to him our situation and he said it shouldn't be any problem. He also asked how much we would like to borrow in addition to the cost of the house. While we talked he also looked at Zillow, the county appraisal, and a couple other websites which also had the valuation of our house in the $450,000 range.
I know we shouldn't really have any debts, but then I had to pay for my leg therapy and skin graft, Boy got typhus a couple years ago, then mono earlier this year. Wife is taking college classes and then there are just other situations, such as me deciding to buy Boy a 3D printer for his side projects which he continues to do, or the repairs I needed to do on my vehicle a year ago. Speaking of, I have sworn to Wife that I will hold off on buying myself a new vehicle until we get our credit debt to 0 for a while. I am hoping this will coincide with maybe the new Ford Bronco, which I just read on Car and Driver that it will have a retro squared look and come in a 4-door version. This just makes me think it will look kind of like my Excursion which I have been driving around since 2004. The Broncos should start appearing in the 2020 year which is just around the corner.
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