The more I look at numbers the smarter it seems
by, 02-26-2009 at 07:53 PM (999 Views)
I'm really really leaning toward refinancing in a big way.
If we do it as a 20 year mortgage, paid weekly(cuts it down to 17 years). We can survive on my income alone, mortgage, insurance, gas, groceries utilities and even a little money left over for savings.
Meaning, dh income could be used to beef of the EF, retirement and pay down the mortgage at an accelerated pace. If he were laid off and we end up with only 40% of his income, that would still be used for the EF and retirement since my income covers everything else.
It just makes sense in these unsure times to make it where we are sure we don't lose out.