Toggle navigation
Toggle navigation
Home
DCUM Forums
Nanny Forums
Events
About DCUM
Advertising
Search
Recent Topics
Hottest Topics
FAQs and Guidelines
Privacy Policy
Your current identity is: Anonymous
Login
Preview
Subject:
Forum Index
»
Money and Finances
Reply to "trying to advise friend -- is it wise to refinance to a 15-year mortgage?"
Subject:
Emoticons
More smilies
Text Color:
Default
Dark Red
Red
Orange
Brown
Yellow
Green
Olive
Cyan
Blue
Dark Blue
Violet
White
Black
Font:
Very Small
Small
Normal
Big
Giant
Close Marks
[quote=Anonymous]Just because a mortgage is written as 30 year, it does not mean it MUST be paid off that way. I have a 30 year mortgage that I would very much like to pay off in 15. I am on track to do just that. I could refi to a 15 year and save maybe 1 point, but it would cost me the closing costs and eliminate my flexibility in case of job loss/other circumstances. That flexibility costs me something on my 600K mortgage - about 6K/year, or $500/mo, which of course will decrease as I pay it off. This is a very personal decision, but I'm on my second house that we'll pay off this way, and having that flexibility is really nice in terms of piece of mind. I can make the monthly nut really small if I need to.[/quote]
Options
Disable HTML in this message
Disable BB Code in this message
Disable smilies in this message
Review message
Search
Recent Topics
Hottest Topics
