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Should I or shouldn't I?

RUGERGUNZ
I just bought three guns the other day. Today I remembered there is a Gun Show in town Sat. and Sun.

Should I go with the idea that I can just look and not buy?
I'm not sure if I have that kind of fortitude.
Such a Quandary.

Remember...Terrorist are attacking Civilians; Not the Government. Protect Yourself!

Edited by - RugerNiner on 08/09/2002 22:26:48
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Comments

10 comments

Date Votes
  • RUGERGUNZ
    I have a 20 year fixed/adjustable mortgage on my house. For the first 5 years it is fixed at roughly 4.25% and then can increase up to max 2% a year according to the average. Maxes out at 10.25%.

    I am app. 3 years in and have paid through next Aug.

    I am thinking of refinancing next spring to a 30 year fixed at hopefully 6-6.5% and adding enough to purchase an outdoor wood furnace and maybe a power generating windmill.




    I am curious as to what the rate may be by then? If I refinance now I will need to start making payments and don't have the money. But if I don't refinance to a fixed loan, I think I may get to a very high interest rate.



    Any good info?
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  • Marc1301
    All I can tell you for certain, is that if you have a 5/1 ARM at 4.25%, you most likely will never see that rate again.
    I would put in a fixed loan, while the rates are still below historic norms.
    The fed will not be able to ignore the rising price of oil for long, which is certainly an inflationary signal across the board.
    At some point, they will desert the worries of the real estate markets, and have to deal with the ominous signs of inflation,........which will result in higher rates.
    Most likely about the time your ARM comes up!
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  • Sav99
    Refi into a 30 fixed as soon as you can, par is around 6% now. You may be able to recapture the payments that you have paid ahead on your loan.
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  • flyingtorpedo
    Get a fixed rate!!!!!!!!!!!
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  • oldgunner
    I agree, go to a fixed rate..But check a bit..Maybe you can afford a 15 year fixed instead of the 30. It happened to me..Well..payment wise it did. Practically my ex wife enjoyed the bennies...hehehe..Anyway, all gone and payed now. and she lives in Texas...Ain't that wonderful?? At least as long as I'm in Tennessee..Damn, what's that singer's name? All my exes live in Angleton(Texas)...[:D][:D]
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  • oldgunner
    Everyone seems to feel that a 30 year mortgage is the answer to their problems. Could be, but a 15 year one might work as well, and the payments might not be so much more...Look into it before you jump.
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  • bpost
    RUN FORREST RUN! get a fixed rate, YESTERDAY.
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  • frog21
    If your planing on selling your house in the next couple years,leave your morgage alone.If not get a fixed rate ASAP,and shortest term as you can afford.
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  • slipgate
    I'll give advice on another angle. Resist the urge to take equity out of your house! This has the effect of creaping you loan up to the point where you owe twice what you borrowed or more. I know several people that have been taking equity out of their house and now have NONE!.

    Refi for sure, but just enough to cover what you owe. Just imagine a time down the road when you have NO mortgage. How good that would feel!
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  • select-fire
    30 yr. fixed rate. You can always send in more principal on a 30 yr. 15 yr will have you tied to a higher payment.
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