“Yes, We Want to Take Out additional Cash”
I can’t believe our home came in at $474,000. When we did the mortgage application I had estimated $420,000, so the appraisal number was a wonderful surprise. So, I want to go back to the question you asked previously, do you want to pay off any other obligations or take out any additional cash? I have changed my mind, I actually want to pay off our three credit cards and both cars. That would add $56,000 to the $260,000 mortgage that we applied for. What do you think?
We ended up changing the mortgage completely. By eliminating their car payments and credit card debt it allowed us to do a 15 year mortgage instead of 30. The mortgage payment was still less than what the current mortgage and all the other obligations were. Life is GOOD!