[quote=walterwhite]Flu I currently owe 439000 at 4.375 perc. Mo payment is 2236
Should I buy that down to get 15 y at 3.0 perc no cost mo payment 2855?
I can afford it but would have to keep my stink car another 7 years.[/quote]
You know scaredy. I guess really depends on what you plan to do with the money. That’s all I can say.. What’s your goal? You and I probably don’t see the same way, because well, you probably can work for another 10-15 years. I don’t think I can (at least not as a high-pressure software architect/developer, etc)..
I was originally on a 30 year, and then I went down to a 15 year loan, at the time, I really wanted to pay off my primary in 10 years, and the 30year, it was a bit disappointing to see the first few years of payment going to primarily to interest. And who the hell wants to still be paying into your mortgage when we’re 60ies (or for some of us maybe 70ies???) So I ended up doing a $391k loan for 15. In hindsight, I think that was a mistake. Because what I really need to do moving forward is counting on living more off of passive income. Assuming my health goes up shit’s creek, I will need something that produces income, not something that’s sitting there in a big ball of equity trap. So in hindsight, what I think I should have done is freed up as much $$$ on the primary and stuck it elsewhere. Side note: I really envy people who are good at real estate. Really envy… I mean, I wish I wasn’t such a fvcking geek and was a lot more street smart.
At the other extreme. If you’re going to spend money on bling. You might as well go all out…Because you only live once…. So don’t refinance and buy yourself a toaster appliance econ-car. Although I’m not suggesting Jeff Bridges dump Hyundai or Gary Bussey dump Kia, please don’t refinance so you can go buy yourself a Kia or Hyundai… Please….Go all out. Get what you always fvcking wanted. You want a reliable car… Get a fvcking porsche. They are very reliable…And you’re excuse will be you can’t fit the kids in the back (just say no on the panamera and the cayenne)..Sorry… Might as well enjoy life a bit… Because just remember. If you die or get a divorce, chances are your money ends up in someone else’s hands anyway.
Some people say I’m bi-polar these days. I think I am. Sorry, can’t help you any better.
