Posted on 08/17/2024 8:13:07 PM PDT by where's_the_Outrage?
11 years ago when I bought my last house which was the last mortgage I have had, Wells Fargo pissed me off so much during escrow that I told my wife we weren’t doing anything for a Year. I paid it off in 10 months and made damned sure they lost their shirt on the deal, about $25K is what it cost them to piss me off. I paid CASH for the next one that I built and finished 18 months ago.
Good point about being paid on commission. That is really tough to budget and plan.
I always paid lump sum even amounts like $2,500 or $5,000 and never had a problem.
‘Stress is silent and does not show up on any balance sheet.”
If you must have stress, run the numbers on the money you lost by not investing your extra cash in a brokerage account, instead of paying down your mortgage with more expensive dollars.
EXACTLY—DESIGNATE WHERE YOU ARE APPLYING THE MONEY
I would pay an extra $50 or $100 when I had it. KNOCKED DOWN THE LOAN quicker than I thought.
BEST TO DICTATE THAT ON YOUR PAYMENT.
NOT THE BRIGHTEST ARE WORKING AT BANKS, ETC.
Stress is about risk not missed return.
BFLR
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