Paying off all debt except mortgage | Page 2 | TigerDroppings.com
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LSUAfro
LSU Fan
Baton Rouge
Member since Aug 2005
11418 posts

re: Paying off all debt except mortgage

Did you read what foshizzle posted?

There is no better answer than this. Choosing any other alternative is fine, but this is the correct answer.
This post was edited on 1/14 at 10:02 am


Vols&Shaft83
Tennessee Fan
Throbbing Member
Member since Dec 2012
26975 posts

re: Paying off all debt except mortgage
Yes, I did. I'm saying refinancing may not be the best option if he can get his house paid off quickly.


I Love Bama
Alabama Fan
Alabama
Member since Nov 2007
34032 posts

re: Paying off all debt except mortgage
I beat the Ramsey drum as loud as anyone but it makes no sense to pay off a mortgage at current rates.


Hammond Tiger Fan
Vanderbilt Fan
Hammond
Member since Oct 2007
13061 posts

re: Paying off all debt except mortgage
quote:

I beat the Ramsey drum as loud as anyone but it makes no sense to pay off a mortgage at current rates


Yeah, after deductions are taking into account, it's damn near an interest free loan


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Dead Mike
LSU Fan
Cell Block 4
Member since Mar 2010
1858 posts

re: Paying off all debt except mortgage
quote:

I still think it's a better idea to plow extra money into principal as opposed to making minimum monthly payments, think about what you could do if you didn't have any mortgage payments.... Like I said earlier, combine investing extra money with extra principal payments and you eliminate a shite load of risks.


You're simply sacrificing more money now to have more money later, when that money has declined in purchasing power. The problem is that you have a very limited ROI, at the cost of decreased liquidity.


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