Tagged With: mortgages

Four ill-advised reasons to refinance your mortgage

So there are definitely some reasons where refinancing a mortgage could be a good move. Rates too high? Terms no good? Not going to be moving for a while? It could make a lot of sense, and save you money. But there are equally a lot of ill-advised reasons to look into mortgage refinancing. If … Continue reading »

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Is it time for me to refinance? My mortgage origination company thinks so

I closed on my home almost two years ago. And while I made the terms a little longer than I needed to, my plan currently is to pay it off as if it were a 15 year mortgage. As I’ve written about before, my most pressing task is removing Private Mortgage Insurance, which I need … Continue reading »

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What’s a mortgage refinance?

You might think that the life cycle of owning a home is that you buy something, get a mortgage, pay off mortgage, and then live happily ever after. But this omits the fun world of mortgage refinance. Because it was so fun to go through the process of getting a mortgage once, you can go … Continue reading »

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Getting rid of PMI (part 2): The M stands for “misdirection”

Part of a series: Getting rid of PMI (part 1): The P stands for “parasite” Getting rid of PMI (part 2): The M stands for “misdirection” To recap: PMI is insurance that you pay when you have a high loan-to-value (LTV) ratio on your home, because you put down a small down payment (usually less … Continue reading »

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Getting rid of PMI (part 1): The P stands for “parasite”

Every month, I pay money to a group that’s actively betting I’m going to default on my mortgage. I hate this. I know you can say that’s “it’s just business”, and that the statistics don’t lie, but I still get infuriated with the idea that someone or someones think I will default, and are charging … Continue reading »

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How homeowners can go back into debt, lose their home, and pay for the privilege

I’ve long said that if they are advertising something, you don’t need it. This was one of my very first blog posts from years ago, and I stick by it. Now “need” is different from “want”, of course. You may decide that you want to acquire or experience something that was advertised to you. But it’s … Continue reading »

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Financial Cage Match: Paying down a mortgage versus investing

This is another entry in the Financial Cage Match series, where I look at two competing financial priorities and see which one comes out on top. Here’s another entry: Paying off student loans versus investing for retirement. WARNING: This post contains math. So we now know that holding on to a mortgage because of the … Continue reading »

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Just making sure: Mortgage interest isn’t a reason to hold on to a mortgage

WARNING: This post contains math. “When you have a mortgage, you get a tax deduction for all the mortgage interest you pay. So you shouldn’t pay down your mortgage early, because you’ll lose the tax deduction.” This is one of the most common reasons people say to not pay down your mortgage. But this is a … Continue reading »

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My mortgage principle that I broke (sort of)

  Finances and emotions. They go together like one explosively codependent couple. Don’t be fooled by my focus in the numbers side of the situation; I’m not immune to fear and anxiety either. I’m going through the process of becoming a first-time homebuyer. And because of this, I’m going back into debt for the first … Continue reading »

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Why not pay cash for a home?

  WARNING: This post contains math. There is definitely something compelling to owning your own home, from both a psychological standpoint but also a financial standpoint. But I’m not a fan of debt. You know this by now. And in case you haven’t noticed, homes are a little expensive these days. For most people, this … Continue reading »

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