Help!!! Oh Noes!!!! My Wife Is Going Nuts Again!!!!

[Geo]

Dude, between the two of us (wife and I) we moved four times (twice together, twice separately) in 8 months (after a period of ten years in one house). Including appox. 12,000 lbs of books. So, on the one hand I feel your pain. On the other, I think one move sounds incredibly easy to me.

The trick tho is to make it just one move, which can be complicated with contingencies and such, unless you're willing to be stuck with two mortgages for some period of time. And your mortgage company is also willing --often they won't approve the loan for funding until you've paid off the old place.

 

[digitalwanderer]

Your credit card debt should have nothing to do with it. You can refinance your existing mortgage (with cash out based on higher equity, and/or for 30 year fixed term). You don't need a new house to improve your cash flow situation.

That being said, that doesn't mean you shouldn't move. But "reorganizing your debt" is not a good / valid reason for buying a house that costs the same or more.

If you do move or refinance, and you expect to remain in the new house (or current one) "for a long time", make sure you get a fixed-rate loan. I would NOT opt for a home equity line of credit at this time for a second mortgage for two reasons

1) You ran up credit card debt, and just moving it to a HELOC can be even more dangeourous if you can't control spending when you have easily accessible credit.
2) Short term rates (variable) are going up for the forseeable future. They are tied more or less directly to the fed.

Either just get one fixed rate mortgage, or if you need two, get a second fixed rate loan.

Good luck!

Thanks Joe, I almost understood that.

We're not going for a bigger/more expensive house just to get a bigger/more expensive house....when she bought this one it was just expected to be me and her living here forever, we never planned/wanted kids. (Or marriage for that matter, funny how things work out )

We could use a bit more space, DEFINATELY need a bigger backyard, and I am in love with the thought of a 2-1/2 car garage so we could put both vehicles in and still have room for crap.

I'm starting to build some enthusiasm for the idea, mebbe it won't be so bad. Besides, with as picky as my wife is at looking at house I probably have a year before I have to seriously start worrying about it!

 

[linthat22]

...just "accidently" reverse over her and buy yourself a "real doll".

A real doll

 

[hey69]

why dont you a rearangement of your current mortgage and change it to 30years. that way it would be much better in the monthly payments.

or STOP BUYING EVERYTHING ON CREDIT!

is that an american way of living ?