market average prices for 1 bedroom or stuido in PH

alafairnadia

armchair_warrior wrote: you own a house or condo or something :P?

co-op

armchair_warrior

ah. how you like the people on the co-op board in your building?

dan.h

alafairnadia wrote: [quote=dan.h][quote=alafairnadia][quote=armchair_warrior][quote=alafairnadia]how have I lived in new york so long and never paid more than $1000 for rent? then again, I'm cheap (about apartments) and determined. now, this buying thing has led me to paying obscene amounts cause of the damn heloc. fuck you, heloc!

whats or whos a heloc :P?

home equity line of credit
lock it in! thats just gonna go up and up...

I'm basically trying to pay it off. I don't think you can lock them in without doing something tricky and then I'd have to pay PMI. thankfully it's tax deductible. but it's still got gigantor interest rates. I kissed my bonus goodbye to the heloc slush fund at citi. rat-fink bastids.
lets pm...

11238

When I bought, I had a fixed mortgage and a 4% adj Home Equity Line. That was 2 and a 1/2 years ago. Since then, my Home Equity has risen up to 7.25%. I have been quadrupling the payments but it still sucks. (I owe less than $100,000 so at this point it is not financially worth it to refi).

Lock in if you can! :x

ben

I think it's a tough call whether to lock in or not. HELOCs are usually tied to the prime rate which goes up each time the fed does it's thing. So over the past 18 months rates have climbed 3.25%. But, it looks like this is going to stop shortly. I think most people believe there may be 2 more .25% hikes and then there won't be anything for a while.

If your bank offers a fixed rate option on the HELOC it might either cost you something to lock it or it will be at a higher rate than you have now.

If you think rates will go up 1-2% before you pay the thing off it might be a good idea. If you think you'll pay it off in the next year or so (that includes doing a refi of your first and your HELOC) then it might be better to just leave things alone.

Unfortunately, the time to lock was 18 months ago when the prime rate was at 4% since the general consensus was that the fed was going to raise rates by a good amount. We're at the end of the cycle now.

alafairnadia

yeah, I don't think I'm locking in. I think I'm just going to treat it like credit card debt and quad the payments (I'm already tripling them, but I just got a raise so I can do more). Once I get rid of the stupid thing, my actual mortgage and coop fee will be less than what a lot of people appear to pay in rent on this board (freaky). but those damn helocs are not cute. go away bad dream!