Quote:
Originally Posted by Quo
Nahhhhhh. You're just looking at it wrong. As long as your interest rate is low, just pay your mortgage every month and forgetaboudit. You'll look back in 10 years and be satisfied. If you're really set on not paying that much interest, just do the extra payment thing... make an extra payment (principal only) every year... gets you out of arrears and, if you're consistent, will cut your amortization by around 6-7 years on a 30-year note.
At least it's an asset that's gaining instead of withering to nothing... just think if it was a car. Talk about a losing battle... and no matter how you look at your house payment, it's better than paying rent!
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Awesome. Yeah, discouraging as it may be, I'd never consider anything different...
except, going home and living with my parents for 5 years and putting 2/3 of my paycheck in a savings account. Then I'd have 100k saved away and I could buy the house outright.
