OMG refinance your home to pay for your wedding!!!

Sunrise813 Posted: Apr 17, 2006 05:24 PM

OMG refinance your home to pay for your wedding!!!

I am watching Brdiezilla right now and this couple is refininacing their home to pay for their wedding. Wow I had no idea people did this!!

Beth1210 Posted: Apr 17, 2006 05:32 PM

Re: OMG refinance your home to pay for your wedding!!!

it's better then refinacing to pay for Credit card bills- why not- at least you'll make some of the money back

Sunrise813 Posted: Apr 17, 2006 05:39 PM

Re: OMG refinance your home to pay for your wedding!!!

Posted by Beth1210

it's better then refinacing to pay for Credit card bills- why not- at least you'll make some of the money back

Yeah I suppose your right, it just seemed so drastic,like what if people aren't as genorous.

After interest, When you are done paying for for it all, your wedding would cost 2-3 times more than you actually spent.

To each their own, I was just shocked , I guess I had no clue. I just figured you only spend what you have and can afford, and not go into debt. Well live & learn.

Beth1210 Posted: Apr 17, 2006 05:43 PM

Re: OMG refinance your home to pay for your wedding!!!

when you re-fi your house - you are taking equity out- mostly likely you bought the house for $300K and now it's worth $400K and you owe - $250K

so you re-fi to get a better rate- plus you lenghten the loan - so your monthly payment goes down

it's not a bad thing to do- better then charging it all on CC and pay 20% interest

my Dad did this to pay for us to all go to College

MrsWmson2be Posted: Apr 17, 2006 05:47 PM

Re: OMG refinance your home to pay for your wedding!!!

We saved all of the money before hand and budgeted ourselves. By the time it's over, we won't owe a cent and in fact we saved more than what we needed. There are so many other normal bills and debt, we didn't see the sense in charging or borrowing for this.

Beth1210 Posted: Apr 17, 2006 05:50 PM

Re: OMG refinance your home to pay for your wedding!!!

I know someone that took the money out of her 401K

I am all for having a wedding you can afford too- but not everyone feels that way

MrsWmson2be Posted: Apr 17, 2006 05:54 PM

Re: OMG refinance your home to pay for your wedding!!!

Posted by Beth1210

I know someone that took the money out of her 401K

I am all for having a wedding you can afford too- but not everyone feels that way

Sadly, we really couldn't afford the wedding we are having. Even now, I think 'gosh, that money we saved could have been used for bills, or a downpayment for a new house, or a beautiful new car...' But if I got that, I might someday say 'I wish I had a nice wedding.' I believe FH and I completely overspent and we went well over our initial budget. I hope it's worth it

Sunrise813 Posted: Apr 17, 2006 05:54 PM

Re: OMG refinance your home to pay for your wedding!!!

Not to get off topic, but in the same episode of Bridezilla, they are at the RD and the BMs are praticing walking down the ailse and the Groom is on camera talking to his friends about how hot he thinks the BMs are and I quote 'ooh I like that one'

Ewww what a jerk and and idiot, he is on camera, I would freak if that was my FH.

prinses777 Posted: Apr 17, 2006 05:56 PM

Re: OMG refinance your home to pay for your wedding!!!

Ohhhhhhhhh I know exactly which episode is on!!!!!!!!!

Man I wish I was home watching... its the one where she said she couldn't afford to pay for the mariachi band!!!!

Sunrise813 Posted: Apr 17, 2006 05:58 PM

Re: OMG refinance your home to pay for your wedding!!!

Posted by prinses777

Ohhhhhhhhh I know exactly which episode is on!!!!!!!!!

Man I wish I was home watching... its the one where she said she couldn't afford to pay for the mariachi band!!!!

Yeah that's the one and a few vendors showed up at the wedding because she had not paid them. I kinda feel bad for her, even thought she has been sooo b*tchy through out the whole episode.