sliverstorm
Trakanon Raider
- 99
- 191
Here's a fairly innocuous example from my own mortgage:
If I choose 2 payments or if I choose 1 payment and add $1,000 principal, what I'll see at the bottom of the screen is submitting for a $2,000 payment that will come out of my bank account. I think it's more about homeowners educating themselves on how their specific provider works (in this case, what 'number of payments' means) to avoid a bad surprise, which seems like good advice to me.
Khane
, I'd argue that anyone who holds a mortgage and also puts money in their portfolio is implicitly 'investing the difference'. The difference between [email protected]% and 10yr@3% is a 75% higher monthly payment. I'd bet there are a lot of people--myself included when I started out--who can't field that gap comfortably, but they can still make the decision to take the extra $200/mo or whatever that they DO initially make over living expenses and sock it away in the S&P vs. paying down principal.
You might just be rich because you're frugal : ).
If I choose 2 payments or if I choose 1 payment and add $1,000 principal, what I'll see at the bottom of the screen is submitting for a $2,000 payment that will come out of my bank account. I think it's more about homeowners educating themselves on how their specific provider works (in this case, what 'number of payments' means) to avoid a bad surprise, which seems like good advice to me.
![Khane](/data/avatars/s/0/174.jpg?1471623232)
You might just be rich because you're frugal : ).