Pay Off Credit Card Debt Now...

credit card debtHave you looked at the balances on your credit card statements lately?  Seriously?  OMG!

Everybody I know has been "living" off of credit cards!  How expensive is that?  Well - If you have a $2000 balance on a credit card with an 18% APR it could take you 24 YEARS to pay it off if you simply pay the minimum balance!

If you've purchased a home in the Triangle during the last 24 months - and the value is less than $300,000 - you might qualify for a cash out FHA loan.

We are refinancing a single mom today who purchased a home last February.  The FHA limits were not as high as they are now, and her conventional loan rate was 6.875%.  We were able to pull $12,000 out of her home (which still left her over 5% equity), get her a better interest rate, and lower her monthly bills by over $585 a month!  In addition to this - we saved her YEARS worth of interest that she could get no tax advantage for!

If you are interested in refinancing your home, please call Steve and Eleanor Thorne,Senior Mortgage Loan Originators in Raleigh, NC  919-649-5058

Comment balloon 6 commentsEleanor Thorne • September 05 2008 10:48AM
Pay Off Credit Card Debt Now…
Have you looked at the balances on your credit card statements lately? Seriously? OMG! Everybody I know has been "living" off of credit cards! How expensive is that? Well - If you have a $2000 balance on a credit card with an 18… more
Hurricane's Comin'? EAT ICE CREAM!
So Tropical Storm Hanna can not get her act together and she looks like she'll be a big ole Thunderstorm, and it will help with the drought… But IKE - shown to the left - has winds at 145 mile an hour… That's going to be BIG… and with… more
ICE Your Phone… In Case of Emergency
My daughter ICE'd my phone today - and now I want you to ICE yours too! (her brother showed her how to do it… ) Take a moment and add ICE as a contact on your phone. Our son has been working for the police department in Cullowhee, NC… more
Kiddie Condos are Not Just for Kiddies!
Kiddie Condo Loans refer to a FHA provision that allows for non-occupying co-borrowers. Parents like us, with kids in college, come out a LOT better owning a unit with the student, and renting it back out. We've done many of these for our… more
Buying A Home While Self Employed in NC
Are you a professional fisherman - or are you just "fishin'" for sales? Either way, if you are self-employed and you want a new home in North Carolina there's some important steps you need to take! North Carolina has been the LEADER in… more
Bernanke Makes Underwriting Changes
Can we talk? Look, today there's BIG BIG news going on. BIG NEWS. Fannie and Freddie and Lehman and IndyMac and WaMu and National City - it's the biggest day for financial information and financial stocks we've had in a loooong time. … more
Does Wake County Care if Fannie Belly Flops??
Secretary Paulson and Bernanke followed each other speaking on Capitol Hill. In his prepared speech to the House Financial Services Committee, Sec. Paulson made these comments about Fannie Mae (FNMA) and Freddie Mac (FHLMC)… "Their regulator… more
Selling As You Separate
Lately, we've talked to several people who are going through a divorce - or WANT DESPERATELY to get out of a marriage. Their real estate is holding them back. I guess it's not surprising that folks with money issues are also having… more
Rule Of Thumb Says 3 Times Income
I grew up in this business, so I've had a lot of "rule of thumb" stuff I've squirreled away in the back of mind. One of my "old reliables" says that a borrower normally qualifies for 3 times their gross income. When… more
Does Your MLS Do This?
Do your customers currently compare the energy bills of potential homes? If so - then this might be interesting to you! We were fortunate to have Dan McFarland, Southern Energy Management in our office today to discuss "HBA Green… more