Comments on: CareOne: in retrospect http://spoken-for.org/archives/2008/02/29/2100/ hmmm... what? Mon, 08 Mar 2010 05:18:32 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: momontherun http://spoken-for.org/archives/2008/02/29/2100/comment-page-1/#comment-388409 momontherun Sat, 01 Mar 2008 02:07:14 +0000 http://spoken-for.org/archives/2008/02/29/2100/#comment-388409 We were in a similar situation 3 years ago. We re-mortgaged our house to like 95% of it's then market value and used the equity to pay off $30,000 in student loans and credit card debt. When we moved las year we only had enough equity to pay our real estate fees so essentially we've been making portgage payments for 5 yrs but still have virtually no equity. No biggie though - our monthly payments are $1000 less/month than they were 3 yrs ago and now we live in a house twice the size and can afford to do fun things with our kids. Basically we have the same debt, only it's amortized over 30 yrs instead of 5. We were in a similar situation 3 years ago. We re-mortgaged our house to like 95% of it’s then market value and used the equity to pay off $30,000 in student loans and credit card debt. When we moved las year we only had enough equity to pay our real estate fees so essentially we’ve been making portgage payments for 5 yrs but still have virtually no equity. No biggie though – our monthly payments are $1000 less/month than they were 3 yrs ago and now we live in a house twice the size and can afford to do fun things with our kids. Basically we have the same debt, only it’s amortized over 30 yrs instead of 5.

]]> By: Jamie http://spoken-for.org/archives/2008/02/29/2100/comment-page-1/#comment-388252 Jamie Fri, 29 Feb 2008 22:28:41 +0000 http://spoken-for.org/archives/2008/02/29/2100/#comment-388252 Goodness.. thanks for that read. It's interesting because I had debt before Brandon and I got together and I will have student loans after this so I'm hoping not to have to do a credit program such as the one you tried but it's interesting to hear an experience in case I do have to. We anticipate with both of us working full-time that I'll be able to pay off the loans. I still owe my parents 10,000+ for a parent plus loan they had to take out and we can't afford to pay on that right now or we'd have no money. I need a job ASAP. Blah. Anyway, I'm so glad that you guys found a solution that actually works for you. That's the thing: it seems that one solution may work for someone but it won't work for someone else so kudos to you for realizing the initial solution wasn't working and doing something about it! Goodness.. thanks for that read. It’s interesting because I had debt before Brandon and I got together and I will have student loans after this so I’m hoping not to have to do a credit program such as the one you tried but it’s interesting to hear an experience in case I do have to.

We anticipate with both of us working full-time that I’ll be able to pay off the loans. I still owe my parents 10,000+ for a parent plus loan they had to take out and we can’t afford to pay on that right now or we’d have no money. I need a job ASAP. Blah.

Anyway, I’m so glad that you guys found a solution that actually works for you. That’s the thing: it seems that one solution may work for someone but it won’t work for someone else so kudos to you for realizing the initial solution wasn’t working and doing something about it!

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