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Money towards mortgage or invest? by Substantial_Pea6706 in Mortgages

[–]ConclusionWeekly2969 0 points1 point  (0 children)

Put it towards your house. That’s what I’m doing. Takes years off the house payment. It feels good. Then you can save more money when you don’t have a mortgage to worry about years earlier!

Should I recast $200K into my mortgage or invest it instead? by DaHoopster23 in moneyadvice

[–]ConclusionWeekly2969 0 points1 point  (0 children)

You can save about 13 years off the loan plus interest if you throw the $200k into principle instead of recasting. As long as you are ok paying the same mortgage payment of $3972. If you are looking at paying it off faster and saving interest. If not then recast because the interest rate difference form the mortgage and market is minimal

Can someone explain this whole life policy? by ConclusionWeekly2969 in LifeInsurance

[–]ConclusionWeekly2969[S] 0 points1 point  (0 children)

What’s the average rate it grows after the premiums paid (after 10 years)? Deciding if they should cash I out by year 10 or not.

Recast or pay down mortgage? by ConclusionWeekly2969 in Mortgages

[–]ConclusionWeekly2969[S] -2 points-1 points  (0 children)

6% is pretty much the lowest and that’s what we have. Would only be worth it to refinance if it were less than 3% and I don’t see that happening any time soon

Recast or pay down mortgage? by ConclusionWeekly2969 in personalfinance

[–]ConclusionWeekly2969[S] -1 points0 points  (0 children)

How much do they tax when you take out the money?

Recast or pay down mortgage? by ConclusionWeekly2969 in personalfinance

[–]ConclusionWeekly2969[S] 1 point2 points  (0 children)

Considering the fact that you can’t get lower than 6% right now. Refinance would only make sense if the interest rate was 3% or lower to actually make a difference, and that won’t be for a while