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And therein lies the problem of the past 5 years...those who believed their house was a financial asset to leverage instead of a place to call home.
GPSMA the finance guys have always believed a mortgage is an asset. They are not thinking about it the way the ****** man thinks about it. Their thinking is like this if i paid extra towards my mortgage that's extra money i could use to do something with or invest reason being that a mortgage is the cheapest money you can borrow especially in these times if you can qualify for a mortgage at a great interest rate somewhere around 3.7% you cannot get a personal loan at that price and you could use the extra money to invest in something getting a higher return.
The theory makes sense if you're doing it for the right reason and not just thinking i can flip in a few years.
We just refinanced fom a 20 to a 15 year and pay about $2550 /month. If we'd gone up to a 30 it would have been under $1700.
Money experts disagree with me, but I want my mortgage paid off NOW!
You can also refi for 30 and prepay. Of course, you pay a lot more in interest the first few years, but it gives you some breathing room if there's a life change or something.
I am in the $1501-1,999 range I included taxes because I have no I dea what it is without. I never took the time to figure that out I guess. My taxes with star are $6,700
Let me show you an ~~INSANE~~ magic trick that will reveal the true secret of your monthly mortgage payment less taxes!!!
Take the number 6700/12 (which is 558.33) and SUBTRACT it from whatever your mortgage payment is!! IT WORKS EVERY TIME oOOooOoOoOOooOo how mystifying :shoc ked:
Fwd this msg 2 ur 12 top friends on facebook and ur crush wil lkiss u this teusday
My monthly property taxes are now higher than my mortgage ....time to leave LI. Headed for beautiful NC!
We were going to be at that point in another year or two.
Welcome to N.C. You're gonna love it!
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