I am now 100% Debt free

[KC Jones]

Congrats!

I'm about to refinance and stretch my debt out another 30 years.

[wutamess]

Originally Posted by KC Jones

Congrats!

I'm about to refinance and stretch my debt out another 30 years.

Oh brother! Some people are conditioned to be in debt for the rest of their lives.

Oh yeah... congrats R8r

[KC Jones]

Originally Posted by wutamess

Oh brother! Some people are conditioned to be in debt for the rest of their lives.

Oh yeah... congrats R8r

Heh, if that's what you want to believe. It is actually a financially beneficial action which is why we're doing it. Our monthly payment drops $320 and for an extra $90/month we stay on the same schedule/pay off date as our current mortgage. So keep the same payoff date and have $230 more in the bank each month. Besides, we'll be out of this property long before 30 years is up.

[wutamess]

Originally Posted by KC Jones

Heh, if that's what you want to believe. It is actually a financially beneficial action which is why we're doing it. Our monthly payment drops $320 and for an extra $90/month we stay on the same schedule/pay off date as our current mortgage. So keep the same payoff date and have $230 more in the bank each month. Besides, we'll be out of this property long before 30 years is up.

Excuse me for reading that you're going to stretch your debt out another 30 years. Then to retract that and say you're going to keep the same payoff date and save $230/month.