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  • Profile photo of Ally11Ally11
    Participant
    @ally11
    Join Date: 2010
    Post Count: 4
    April 27, 2010 - 11:31 pm

    Thanks eveyone, I suppose I am a bit of a dreamer, always have been. I'm learning so much just form reading differnt forums on this site and I hope to one day soon be able to take full advantage of these great ideas and become financially litterate. It is a great feeling to know I've got people I can ask for advise and as far as selling half the house I now know the reality of it so I will look at the other options suggested.

    Thanks again for your replies, I really appreciate it.

    Cheers

    Ally

    Profile photo of Ally11Ally11
    Participant
    @ally11
    Join Date: 2010
    Post Count: 4
    April 27, 2010 - 1:45 am

    Thanks for the idea, I will look into that but I don't know if I can because of the original low doc loan we got. I'll ask though.

    I'm still curious about selling half my house to get into a less risk situation with more capital behind me.

    cheers

    Profile photo of Ally11Ally11
    Participant
    @ally11
    Join Date: 2010
    Post Count: 4
    April 26, 2010 - 6:34 am

    Hi Kong,

    I think that citibank do a balance transfer that is 4.9% for the life of the balance. I know this is higher interest rate but the catch I see with the extemely low percentage is that when the time runs out your balance then becomes a cash advance and they charge the 20.9%. The 4.9% rate doesn't change so you can just keep chipping away at it instead of it chipping away at you when the time period is up and repayments get huge again.

    Good Luck

    Cheers

    Ally11

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