12-11-2009, 07:32 PM
Black wrote:
[quote=ztirffritz]
I've owned my home for about 7 years and I've paid down about 1/3 of the principle so far. I just refinanced so that I can pay it down even faster.
That's a good point.
If you could theoretically reduce your payment from $1800 to $1400 that's $400 extra you could pay in principal every month.
Um, guys, I believe I said that in the second post to this thread. What? You guys don't pay attention to girls?
AlphaDog wrote: Now, if you reset that clock with a lower rate and continue to pay the same amount each month, I'd say you'd definitely come out ahead, because any excess will go directly toward principle.