Tagged With: mortgages

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 »

Categories: Radical Finances | Tags: , , , | Leave a comment

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 »

Categories: Radical Finances | Tags: , , | Leave a comment

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 »

Categories: Radical Finances | Tags: , , | Leave a comment

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 »

Categories: Radical Finances | Tags: , , , , | Leave a comment

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 »

Categories: Radical Finances | Tags: , , , | Leave a comment

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 »

Categories: Decisions, Radical Finances | Tags: , | Leave a comment

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 »

Categories: Radical Finances | Tags: , , , | Leave a comment

Five reasons why you can’t afford to buy a home

  It seems like lots of people I talk to these days are thinking about buying a home. Perhaps it’s the season, or the particular intersection of age and socio-economic background in the circles I travel in. Perhaps it’s coincidence. I don’t know. It’s crossed my mind too. The desire to own one’s own domicile … Continue reading »

Categories: Radical Finances | Tags: , , , , | 2 Comments

Forget your credit score (but learn from it)

  I consider myself pretty hard to incite, but our collective focus on our “credit score” can be very frustrating. I think we focus way too much on our credit score, and it leads us to make decisions for the wrong reasons.

Categories: Radical Finances | Tags: , , | Leave a comment

Pay what you owe (and take the high road)

  Last time I talked about how I automate all my bills, and recommend that you do the same. But during the course of my argument, I dropped in this statement: …most of all, your record will say that you did not do what you promised to do. Yes, you may be dealing with companies … Continue reading »

Categories: Decisions, Resistance | Tags: , , , , | 3 Comments