Posted by Al Baker on March 08, 2014 at 06:29:28 from (96.42.135.158):
In Reply to: paying off mortgage posted by austin carpenter on March 08, 2014 at 06:18:21:
Doesnt matter how little your interest payment is. Pay it off as fast as your wallet will let you. What if the place you work at closes, or you get hurt or sick and your income stops? What if the economy crashes again? Pay it off, then the amount you pay each month will be yours to keep, not give to the bank. Difference between a 30 year and fifteen year pay off is 12%. If you can add 12% more to each payment you will save paying 3 years worth of money. That sure would buy a handfull of old tractors and paint.
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