42
votes
Accepted
Which mortgage should I pay off first? Same interest rate and mortgage length
You haven't accounted for what happens when the small loan is completely paid off.
Seven years into the aggressive payoff schedule you need to shift all original principal and interest payment and the ...
- 136k
15
votes
Is a buyout of an inherited house in a trust an option?
It's a question to an estate attorney. The whole point of trusts is to avoid probate, which includes these kinds of issues. The property is owned by the trust, and as the trustee your job and legal ...
- 166k
11
votes
Which mortgage should I pay off first? Same interest rate and mortgage length
However, I just started thinking, and because of the nature of
amortized loans, I'm obviously paying quite a lot of interest in the
beginning....
This is a common point of confusion, the portion of ...
- 69.1k
3
votes
Which Debt shall I pay first?
First of all, congratulations for wanting to pay down debt with the 30k instead of buying a new car...
You should pay the student loan for three reasons:
It has the highest interest rate, and thus ...
- 130k
1
vote
Can buying mortgage points reduce a rate below the applicable federal rate?
Buying points is essentially prepaying the rate. You can only prepay as much as the bank is willing to let you, usually not a lot compared to the full-priced rate. So while theoretically both things ...
- 166k
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