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To: richardred who wrote (1287)11/30/2012 12:23:25 PM
From: The Ox  Read Replies (1) | Respond to of 8239
 
I agree. Just tossing things out there to track and get opinions.

Do you follow SVU? Probably good for a merger one of these days....




To: richardred who wrote (1287)11/30/2012 12:41:21 PM
From: The Ox  Read Replies (2) | Respond to of 8239
 
Question for those reading the thread.

I "retired" from my previous job a few years ago. I don't want to go into the workforce just yet, as I'm not ready to choose a new career. I would very much like to put that off for another year or 2.

I went to my bank recently to discuss the possibility of a cash out refi, as I have a relatively perfect credit score and all that. They won't even entertain the idea. It doesn't matter that I have well over 80% equity in my home but they simply won't loan me money since I don't have a job. Also, I'm less than 6 years away from paying my home off entirely if I stay on my current mortgage.

I have entertained selling my house a number of times but I don't really want to do it at this point in time.

Does anyone know of a way to "tap the underlying asset" in my house? I am slowly whittling down the money I have available to trade and I'd rather not do that for too much longer.

I guess, in hindsight, I should have done the cashout refi while I was still employed but that's water under the bridge.....

Just curious if anyone has any ideas in this area.... The bank's only suggestion was to ask family for a loan. Of all the worst possible ideas, imo. Last thing I want to do is get involved in a financial transaction with family, for all the obvious reasons!!