I’ve been talking to my wife a lot about this. Our only debt is our mortgage. We’ve decided that compounded interest is criminal.
August Mortgage Payment: $2234
Principal $568.87
Interest $855.42
Escrow $810.46
Yes our insurance is high because Florida, but interest being higher than principle payment is fundamentally wrong. This has to change. I don’t mind paying for money, but paying for that money over and over again is where I have a problem.
That escrow payment is unbelievable.
your interest is static every month ?
You have the power to change it. Increase your principal payment to $1K or more. (You're paying it to yourself, anyway.). Your mortgage will be paid off in less than half the time, and your cumulative interest payment will be MUCH less.
Q Anon: 08/11/19 Trust Trump’s Plan ~ Vol.169, Q Day 653
8/12/2019, 9:25:00 AM · 353 of 439
numberonepal to TEXOKIE
I’ve been talking to my wife a lot about this. Our only debt is our mortgage. We’ve decided that compounded interest is criminal.
August Mortgage Payment: $2234
Principal $568.87
Interest $855.42
Escrow $810.46
Yes our insurance is high because Florida, but interest being higher than principle payment is fundamentally wrong. This has to change. I don’t mind paying for money, but paying for that money over and over again is where I have a problem.
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That is a very profound point, numberonepal! Tucking that comment away in my Money/Finances file. Thanks!