Comments on: Is a 15 Year Mortgage Financial Suicide? http://www.fiscalgeek.com/2010/03/is-a-15-year-mortgage-financial-suicide/ Personal Finance for Geeks from the Debt Snowball to Homemade Air Conditioners Sun, 05 Feb 2012 16:55:24 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Golda Moravekhttp://www.fiscalgeek.com/2010/03/is-a-15-year-mortgage-financial-suicide/#comment-20274 Golda Moravek Fri, 28 Oct 2011 23:42:58 +0000 http://www.fiscalgeek.com/?p=2152#comment-20274 Keep to see something new from you Keep to see something new from you

]]> By: kevinhttp://www.fiscalgeek.com/2010/03/is-a-15-year-mortgage-financial-suicide/#comment-13145 kevin Sun, 27 Feb 2011 00:12:47 +0000 http://www.fiscalgeek.com/?p=2152#comment-13145 ranch - that was a big enough spread on the rate that it made the move easier. The 10 year would be a dramatic step, the payment would be noticeably higher. The other thing people don't realize with a 15 year (and more so a 10 yr) is that the tax deduction also disappears more quickly! Not that that should ever hold you back from paying your mortgage in less time, but it is a surprise to a lot of people. ranch – that was a big enough spread on the rate that it made the move easier. The 10 year would be a dramatic step, the payment would be noticeably higher. The other thing people don’t realize with a 15 year (and more so a 10 yr) is that the tax deduction also disappears more quickly! Not that that should ever hold you back from paying your mortgage in less time, but it is a surprise to a lot of people.

]]> By: ranch111http://www.fiscalgeek.com/2010/03/is-a-15-year-mortgage-financial-suicide/#comment-13144 ranch111 Sat, 26 Feb 2011 20:21:40 +0000 http://www.fiscalgeek.com/?p=2152#comment-13144 We refi'd to a 15-year conventional to a from a 30-year FHA. 6.25% > 3.75% with no change in our overall payment each month. Now, if I want to pretend like we have a 10-year mortgage.... We refi’d to a 15-year conventional to a from a 30-year FHA. 6.25% > 3.75% with no change in our overall payment each month. Now, if I want to pretend like we have a 10-year mortgage….

]]> By: Premium Financehttp://www.fiscalgeek.com/2010/03/is-a-15-year-mortgage-financial-suicide/#comment-12820 Premium Finance Tue, 28 Sep 2010 02:00:52 +0000 http://www.fiscalgeek.com/?p=2152#comment-12820 god post i think it would be a difficult situation god post i think it would be a difficult situation

]]> By: Compare Mortgage | Mozilisthttp://www.fiscalgeek.com/2010/03/is-a-15-year-mortgage-financial-suicide/#comment-12046 Compare Mortgage | Mozilist Sat, 17 Apr 2010 08:11:21 +0000 http://www.fiscalgeek.com/?p=2152#comment-12046 [...] Comparing a 30 year <b>mortgage</b> to a 15 year <b>mortgage</b> [...]

[...] Comparing a 30 year <b>mortgage</b> to a 15 year <b>mortgage</b> [...]

]]> By: Choosing a 15-Year or 30-Year Mortgage Loan | Lending Tree Bloghttp://www.fiscalgeek.com/2010/03/is-a-15-year-mortgage-financial-suicide/#comment-11928 Choosing a 15-Year or 30-Year Mortgage Loan | Lending Tree Blog Thu, 08 Apr 2010 04:15:54 +0000 http://www.fiscalgeek.com/?p=2152#comment-11928 [...] you’re still battling whether to get a 15 or 30-year mortgage loan, try the LendingTree Refinance Calculator. You can find out how much you will save with each term [...]

[...] you’re still battling whether to get a 15 or 30-year mortgage loan, try the LendingTree Refinance Calculator. You can find out how much you will save with each term [...]

]]> By: Kevin@OutOfYourRuthttp://www.fiscalgeek.com/2010/03/is-a-15-year-mortgage-financial-suicide/#comment-11393 Kevin@OutOfYourRut Tue, 23 Mar 2010 23:35:34 +0000 http://www.fiscalgeek.com/?p=2152#comment-11393 5 years ago? I was in the business back then and might have been able to help! Actually I was giving out the advice in this post back then and most people were following it. When you present the subject logically, most people understand and agree. .-= Kevin@OutOfYourRut´s last blog ..<a href="http://outofyourrut.com/blog/2010/03/21/making-money-goes-to-money-work-for-you/" rel="nofollow">Making Money-Goes-to-Money Work For You</a> =-. 5 years ago? I was in the business back then and might have been able to help!

Actually I was giving out the advice in this post back then and most people were following it. When you present the subject logically, most people understand and agree.
.-= Kevin@OutOfYourRut´s last blog ..Making Money-Goes-to-Money Work For You =-.

]]> By: Rudyhttp://www.fiscalgeek.com/2010/03/is-a-15-year-mortgage-financial-suicide/#comment-11390 Rudy Tue, 23 Mar 2010 23:22:18 +0000 http://www.fiscalgeek.com/?p=2152#comment-11390 Kevin, I wish I saw your post 5 years ago when I bought the house with a 15 year mortgage. Having that buffer, in case of emergency, would be a total peace of mind. I had been laid off before and the feeling of not being able to afford the mortgage payment scared me. Now, I'm considering paying extra towards the principal, pretending it's a 10 year mortgage. :-) .-= Rudy´s last blog ..<a href="http://www.amid.com/werd/finding-health-and-sanity/" rel="nofollow">Finding Health and Sanity</a> =-. Kevin, I wish I saw your post 5 years ago when I bought the house with a 15 year mortgage. Having that buffer, in case of emergency, would be a total peace of mind. I had been laid off before and the feeling of not being able to afford the mortgage payment scared me.

Now, I’m considering paying extra towards the principal, pretending it’s a 10 year mortgage. :-)
.-= Rudy´s last blog ..Finding Health and Sanity =-.

]]> By: Kevin@OutOfYourRuthttp://www.fiscalgeek.com/2010/03/is-a-15-year-mortgage-financial-suicide/#comment-11360 Kevin@OutOfYourRut Tue, 23 Mar 2010 01:53:09 +0000 http://www.fiscalgeek.com/?p=2152#comment-11360 The conscensus then, seems to be the 15 year or 30 year are less important than the bigger picture consideration of buying beneath your means. Buy right in the first place and the details will work themselves out. .-= Kevin@OutOfYourRut´s last blog ..<a href="http://outofyourrut.com/blog/2010/03/21/making-money-goes-to-money-work-for-you/" rel="nofollow">Making Money-Goes-to-Money Work For You</a> =-. The conscensus then, seems to be the 15 year or 30 year are less important than the bigger picture consideration of buying beneath your means. Buy right in the first place and the details will work themselves out.
.-= Kevin@OutOfYourRut´s last blog ..Making Money-Goes-to-Money Work For You =-.

]]> By: Ryanhttp://www.fiscalgeek.com/2010/03/is-a-15-year-mortgage-financial-suicide/#comment-11352 Ryan Tue, 23 Mar 2010 00:41:18 +0000 http://www.fiscalgeek.com/?p=2152#comment-11352 Great conversation here. Personally, I think the 30 year mortgage is a better option for most people because it gives them more long term flexibility, especially if you have the cash flow and discipline to make extra payments. However, a 15 year mortgage can save you more money in the long run. There is a time and place for both mortgages, and I think that as long as you aren't buying more house than you can afford and are getting a fixed rate loan, then you are being prudent with your money. .-= Ryan´s last blog ..<a href="http://cashmoneylife.com/2010/03/18/highest-paying-college-degrees/" rel="nofollow">Highest Paying College Degrees</a> =-. Great conversation here. Personally, I think the 30 year mortgage is a better option for most people because it gives them more long term flexibility, especially if you have the cash flow and discipline to make extra payments. However, a 15 year mortgage can save you more money in the long run. There is a time and place for both mortgages, and I think that as long as you aren’t buying more house than you can afford and are getting a fixed rate loan, then you are being prudent with your money.
.-= Ryan´s last blog ..Highest Paying College Degrees =-.

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