Posted by blackhole49 on March 02, 2015 at 05:48:33 from (71.227.11.148):
In Reply to: truck loan posted by 1955 950 on March 01, 2015 at 17:09:25:
I'm with Seller. Put the money toward the house. The truck is a simple interest loan, the house is a graduated interest loan with most of the interest at the beginning. You will save more actual dollars paying the house off early. If you don't believe, look at your amortization and do the math. As far as the house interest being deductible, I can't see giving away a dollar to save 17 cents.
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Today's Featured Article - Restoration Story: 1929 McCormick-Deering 10-20 - by Randal Simmon. On July 4th 1998 my dad and I was sitting on the front porch when he said that he was going to sell his two 10-20's to a junk man. He said that the junk man was going to give him $500 for both of them but he hadn't received the money for them yet. So I went into the house and wrote him a check for $500 and bought them myself and said now they are mine. He had bought them about five years before thinking that he was going to restore them himself. After five years sitting in the barn, he changed h
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