- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Another question regarding paying down your mortgage...
Posted on 10/7/12 at 11:58 am to foshizzle
Posted on 10/7/12 at 11:58 am to foshizzle
quote:
If you had a 6.5% note instead then it would be much more worth it.
mine was 7.5% when financed back in 1993.
another reason i paid it off waaaaaaay early.
I listed all the other reasons in a previous thread. Different circumstances for different people. lots of Hard times(gets very old indeed), not a huge principal amount left on mortgage, and the high interest rate are great reasons to pay it off soon for peace of mind.
EDIT: but i digress, we have posters here who supposedly know exactly what each person should do and their exact situation and as if they will have no troubles from here on out in life. sigh.
This post was edited on 10/7/12 at 5:22 pm
0
Posted on 10/7/12 at 1:02 pm to BestBanker
quote:
you do not earn 5% on your money when you pay off a 5% mortgage note. You simply stop paying a note. The only way anyone earns money in this situation is to take the money and deposit in a 5% after-tax account.
No, that's 5% before tax. Your after-tax ROI is pre-tax rate times your tax bracket if you had not claimed the deduction.
Page 2 of 2
Popular
Back to top
Follow TigerDroppings for LSU Football News