Yinka L asked:


We bought a house in december 2006 with adjustable rate, we plan to refinance between march and april because we are planning to use our tax return to pay our credit card debits so that our FICO score can be increase so that we can take advantage of the current mortgage interest rate. But today we receive a mail that stated that our monthly payment has been increased from 7.7% to 10%, which make our monthly payment from $1500 to $1800, that is $300 increment need advice on what to do, how to communicate with the bank so that the new increase will be freeze for the next 3 month. please help and no information is too much. Thanks

Ruben

Kendra asked:

My husband and I have two car loans one at 4,800 at 4.9% the other at 14,400 at 6.15% and a credit card at 10,700 at 7.9% but we also have a mortgage. What I’m planning on doing is having my husband sign up for another credit card because the current offer is no interest till 2008 (including balance transfers, there is a fee but the max fee is about how much we pay for the finance charge in one month. What I don’t know is if I should put our tax refund toward bringing down the lower car loan so the 230 we put toward that every month can go to something else sooner or if I should put some toward the car and some toward the mortgage each month. We don’t know if it’s better to pay the min on the mortgage and put more toward the other loans or put a little toward the mortgage and one of the other loans. And yes while doing all this I do put a little towards savings each paycheck. Forgive me for rambling but I wanted to be as detailed as possible. Thanks!
I’m not cancelling the current card the one I would be transferring to has an apr of 9.9%. So I would transfer what’s left after the 15 months back to the old card.

Thelma