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August 23rd, 2007, 06:59 AM
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paganmom paganmom is offline
Mega Super Mommy
Join Date: Aug 2007
Location: Casselton, ND
Posts: 1,612
I have tried for a hone equity loan recently but they tell me that since I have been in my home for less than a year that I don't have enough equity yet to be approved. The reason my mortgage is so high is that my husband and I basically owed too much in student loans and other debt to be given a good rate even though our credit rating is perfectly fine. 722 for me and 720 for him. So we have two mortgages, both with adjustable rates on the house. In December 2008 we will be able to refinance and get a decent rate. Until then, we're screwed. I even tried calling one of those TV advertised interest only loan places. They told me to come back after 2 years when we had some equity. *sigh*

My minimum payments on the credit cards are $79 and $45 and $110. So one I pay the minimum and the other two I an paying a little more to try to make the debt go down faster. I can cut down to the minimum but I would rather not.
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