we has good credit!

Our Paradise Place

We are in the process of refinancing the mortgage on our beach house.  The bank initiated this by calling and asking if we wanted to, using the HARP program.  As this is our second home, I wasn’t sure we could qualify for a government program, but we did.

The bank is waiving their fees for which I sure they receive compensation from the government.  Our interest rate is lower and our payments will be lower.  This is turn will give us more cash to help us get the credit card paid off faster and then build our savings back up.  After that, we can get this bad boy paid off as soon as possible.

As part of the volumes of paperwork involved in mortgage loans, Saturday we received our credit scores. It floored me!  I knew that we had fairly good credit scores, but these were almost 30 points higher than I thought!  I am still in shock over it.  Seriously!

All those hours spend reading Get Rich Slowly have paid off in a big way!  Our financial house is in good working order, even in this economy, thanks in part to J.D. Roth, his staff writers, and his guest writers.  It has taken hard work and sacrifices, but we’re there.

The thing that has me puzzled is, how can two people with excellent credit, who are making their mortgage payments on time, qualify for a government program loan?  I’m not looking a gift horse in the mouth, but wouldn’t this money be better used to help those whose houses are in foreclosure because of things like medical expenses, job loss, and the like?  Just askin’…

Advertisements
This entry was posted in finances and tagged , , , . Bookmark the permalink.

2 Responses to we has good credit!

  1. Jeremey says:

    I have never understood the expression to look a gift horse in the mouth. First, what does a gift horse look like and secondly, does it have a bow? LMAO.

    I think its awsome that you two are able to take advantage of this opportunity. You qualify for the loan because the government no longer has strict standards for who the money goes…..J/K. Its the investment strategy. They invest in middle class constituents who are in a minimal to moderate amount of debt in order to help them out of that debt, then they will keep you happy and you will vote for the policy party. At least that is the theory. Its the same manuever the feds have been pulling on the states for years with “grant n aids” to help the states out with projects. These “grant n aids” work by giving money to the state on the condition they use some of it for development, integration, or operation of a federal mandated project. The state wins and the feds win more… or Moore. I made a pun!

    Either way, if it is good for you guys I am excited!

    • Seashell says:

      Jeremey…silly…
      One of the ways to determine the quality & health of a horse is to check it’s mouth and teeth. I guess the saying means that if someone gives you a horse, just be thankful for it and NOT check it’s teeth! I don’t know if it has a bow or not. No one’s ever given me one.
      ~ aunt shell

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s