Did I hear this right? - Sitcoms Online Message Boards

masterassdragger · 10-31-2002, 02:57 PM

In the last episode did they say they only have 7 more yrs on their mortgage and then refinance to get a 30 yr loan?

I was confused the whole episode wondering how on earth they only had 7 left and if so why they would refinance that to a 30 yr loan.

Any insight would be helpful, thanks!

dlemond · 10-31-2002, 03:05 PM

I saw the episode and that is what they were doing.

I don't know how they got to only 7 years left - how many years are they supposed to be married? If it is like 13 then they had a 20 year loan and the payments would be pretty damn high unless they had a HUGE downpayment.

But if they did refinance the last 7 years into 30, their payments would be ridiculously low, therefore freeing up a lot of money.

masterassdragger · 11-02-2002, 02:18 PM

Thanks dlemond!

I thought I was going crazy!

The whole show I was focused on the finance part wondering how much they were paying a month and how much they put down, and all those little details. Drove me bonkers :P

10-31-2002, 02:57 PM	#1
masterassdragger LITB Forever! Occasional Poster Join Date: Oct 24, 2002 Location: Atlanta Posts: 33	Did I hear this right? In the last episode did they say they only have 7 more yrs on their mortgage and then refinance to get a 30 yr loan? I was confused the whole episode wondering how on earth they only had 7 left and if so why they would refinance that to a 30 yr loan. Any insight would be helpful, thanks!

11-02-2002, 02:18 PM	#3
masterassdragger LITB Forever! Occasional Poster Join Date: Oct 24, 2002 Location: Atlanta Posts: 33	Thanks dlemond! I thought I was going crazy! The whole show I was focused on the finance part wondering how much they were paying a month and how much they put down, and all those little details. Drove me bonkers :P Attached Images

10-31-2002, 03:05 PM	#2
dlemond Hey, I know you. Moderator Forum Veteran Join Date: Dec 03, 2001 Location: New Jersey Posts: 6,751	I saw the episode and that is what they were doing. I don't know how they got to only 7 years left - how many years are they supposed to be married? If it is like 13 then they had a 20 year loan and the payments would be pretty damn high unless they had a HUGE downpayment. But if they did refinance the last 7 years into 30, their payments would be ridiculously low, therefore freeing up a lot of money.