No Go on the Refi

Posted on Monday 22 December 2008

Well I talked to our credit union loan officer on Friday afternoon.  She said they (the credit union) are not writing many loans for more than 90% LTV.  In addition, she stated that since we bought our house only two years ago, it would most likely appraise for ~$20K less than we paid for it.  Therefore, she advised against making an application.

She stated that since we have a relatively good interest rate (5.8%), we should just keep doing what we’re doing, which is paying a little extra to the mortgage each month.  I was a little disappointed because I would have loved to lower our interest rate.  However, we’re still on track to meet our goal of having the mortgage paid off much sooner than the term of the loan.  So we’ll stay the course for now and re-evaluate our loan again in the future.Love Always Remains
Creative Commons License photo credit: honorfoto


savvy @ 10:40 AM
Filed under: Mortgage
Time to refi?

Posted on Thursday 18 December 2008

What subprime crisis?  Affordable houses are everywhere.
Creative Commons License photo credit: woodleywonderworks

Mortgage rates are dropping like crazy.  We’re a little over two years into a thirty year mortgage.  I see that our credit union has a twenty year loan for only 4.875%.  Needless to say, I’ve already put in a call to one of the loan officers.  My only concern is PMI because we don’t have 80% equity yet.

Nevertheless, I’m eagerly awaiting the loan officer’s call.  It’s always been our plan to have the mortgage paid off in 20 years or less.  Getting a shorter term and a lower interest rate will definitely further that goal.

Are any of you thinking about refinancing?

savvy @ 3:42 PM
Filed under: General Finances andMortgage
Bad Economy = Travel Deals

Posted on Wednesday 17 December 2008

Creative Commons License photo credit: johnkalad

I recieved an e-mail last night from the Wynn hotel in Las Vegas.  For those who aren’t familiar with the Wynn, it’s one of the newer (and nicer) hotels on the Strip.  It actually has a Lamborghini (or maybe Ferrari) dealership on site.  The Wynn is offering 4 nights lodging and $150 in dining credit for the grand total of $109 plus tax!  Amazing.  I was almost tempted (which was the point of the e-mail) but we just went last month.

Has anyone else seen great deals being offered lately?

savvy @ 10:03 AM
Filed under: Deals andGeneral Finances
Should I Cancel My AmEx?

Posted on Wednesday 3 December 2008

amex logo
Creative Commons License photo credit: TheTruthAbout…

Mr. Savvy and I are frequent travelers so I have a Delta SkyMiles branded AmEx.  In line with a number of other credit card providers, AmEx has decided to change the terms of my card.  The annual fee will increase as well as the foreign currency conversion fee.  In addition, there will be no more ‘always double miles’.  Needless to say, I’m not too pleased.  However, I’m weighing the pros and cons of cancelling.  The main benefit of cancelling would be no more annual fee.  However, the main drawback to cancelling would be the loss of the annual companion ticket.

While I definitely like and use the companion tickets, I’m not sure how long that will remain a viable option once the Delta/Northwest merger is complete.  If the change in baggage fees is an indication of things to come, I may have to switch my loyalty to AirTran.  Have any of you seen a change in your credit card terms lately?

savvy @ 5:00 PM
Filed under: Credit Cards
It’s December Already!

Posted on Monday 1 December 2008

Well, we didn’t have any  luck getting bumped from our flight on Wednesday.  Although the plane was full, the airport wasn’t nearly as hectic as in years past.  I guess people are flying less due to the economy.

I didn’t have any unplanned spending this weekend, but I spent nonetheless.  There was the rental car, gas and aiport food as a result of flying to see hubby’s parents.  Then there was my dad’s birthday party (though the cost was split with my brother) in my hometown.  It was a busy few days with all the traveling we did.

I never partake in the Black Friday madness though it might have been nice to take advantage of some of the online deals.  However, I have not made my Christmas list yet.  Tsk tsk on me.  Thankfully I only have a few people to shop for.  Plus my family is easy, more than likely I will just call and ask what they want.  LOL.

However, I HAVE purchased our Christmas cards.  We did photo cards this year.  I’m going to try to write a few each night (I do handwritten notes inside) so I don’t get overwhelmed.  At some point we need to go take pics for next year’s cards.  I’m actually planning ahead for once and the shopping area near our house has the cutest lighted reindeer that I want us to take pics with.  Cute and free!

I also got my BlackBerry.  Yay!  No more forgetting dates or double-booking.  I love it thus far though I’m still figuring out how to use it.  The only downside is that the bill will be higher than I expected.  The discount I get from my employer only covers the calling plan, not the Blackberry data plan.  Boo!  I guess I was so excited about getting it that I failed to read the fine print.  All is well though because I did switch over all (auto, home, umbrella) our insurance and the savings will cover the additional costs.

How did you guys do with spending this weekend?  Anyone find any great deals?

savvy @ 11:24 AM
Filed under: Uncategorized