U.S. government can do it. So can you.[hahhah-no]Quote:
Originally Posted by CavSct1983
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U.S. government can do it. So can you.[hahhah-no]Quote:
Originally Posted by CavSct1983
People do have 30 years to pay of the standard mortgage. What's the rush? Mortgage APR is between 3% and 4% plus writing off mortgage interest on taxes. Maybe the homeowner is making 10% a year on an investment so their money is working harder for them there. With the attractive interest rates on homes and vehicles these days, it's not always wise to pay off your $300,000 mortgage or $20,000 vehicle. It's not 1950, debt is not always a bad thing. Ask Trump, he leveraged debt to build his empire.Quote:
Originally Posted by Jer
It's obviously not that simple but there are some simple steps you can take to rapidly dealing with a mortgage. It's a bit off topic for this thread but you mentioned it so my response was an attempt at humor addressing the topic.Quote:
Originally Posted by CavSct1983
Exactly! (I'd put lol but it's quite infuriating how they devalue our currency by recklessly printing as much as they need to fill the bill for the day)Quote:
Originally Posted by 00tec
Spending $1,000 to claim $100 (or $200, or $300, etc.) on taxes doesn't make sense. Regardless of interest rate it's always ways to NOT take out a loan at all. One example of leveraging doesn't not a rule make. I sang that same tune a decade ago and it bit me. Hard. Even if it's 0% that's monthly income that can go towards investments. Taking loans out to buy shit you don't need makes zero financial sense but fuels the economy so they continue indoctrinating us to believe that's how you get ahead in this economy.Quote:
Originally Posted by kidicarus13
Drive through a trailer park and see how many Cadillacs you see. People paying around $1,000/mo for transportation when their tab for shelter is probably $400-$500 in a sketchy neighborhood & work minimum wage collecting welfare. (extreme example but it exists and illustrates my point) No wonder people can never 'get ahead' in this society.
No mortgage means for some of us, no deductions. Kids grown, medical no where (sometimes) the current ins rate, fixed income. That mortgage deduction helps.Quote:
Originally Posted by Jer
BUT.............. we also have , outside the house, zero debt.
Sounds like you're making pretty good money, congrats! Don't get too upset by Jer's suggestion, you're closer to the mind set of leaving the rat race than most, but he doesn't know that. Turning people on to the idea of having life options that are outside of what society tells you to do can be life changing. It's always good to have a muse. In other words, his suggestion was not meant to frustrate, even though it is certainly out of place in this particular thread.Quote:
Originally Posted by CavSct1983
Try more like $800-$1,000 per month for lot rent alone.Quote:
Originally Posted by Jer
How many people actually ever pay off their 30 year mortgage? Most people move on average every 5 years, that means they pay for 5 years and then reset the clock.Quote:
Originally Posted by Jer
End of year for us, again.Quote:
Originally Posted by Zundfolge