The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: russwinter who started this subject	8/31/2003 11:37:20 PM
From: broadstbull	Read Replies (3) of 110194

A little help please.......a few questions for the board I am presently about 75% into a good size home addition. When complete it will just about double the size of my house. I have been financing the whole thing with cash and all work is being done by myself and family members. By current estimates I'll owe about 1/3 of the value of my home when the project is complete. My questions are.....Should I refinance from 6.5% down to 5.2% on a 15 year? And, should I take a bigger mortgage to aquire some of the cash from the home equity? This is all asked with the assumption that rates will be going up and home prices will probably drop in the future. Part of me says to get the cash at low interest now and hold it for the impending doom ahead in the real estate market. Am I missing something here? Is there a major disadvantage to taking on cash in place of current home equity?

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