View Poll Results: Mortgage paid off?
Yes and I am <40 yrs old
6
8.22%
Yes and I am 40-50
9
12.33%
Yes and I am 50-60
12
16.44%
No, less then 5 years to go
3
4.11%
No, less then 10 years to go
10
13.70%
No, don’t care, has no priority, rather invest
33
45.21%
Voters: 73. You may not vote on this poll
Primary residence paid off?
04-07-2022, 04:32 PM
#51
Line Holder
Joined APC: Mar 2022
Posts: 58
Originally Posted by Armyguy
No better feeling than owing no one ANYTHING. Nothing, zip, zilch.
Throwing that money away into paying off a low or no % down property (FHA or VA loan especially) is a waste. You're literally losing almost $50k/yr by doing that, that's a bad feeling.
04-08-2022, 01:09 PM
#52
Occasional box hauler
Joined APC: Jan 2018
Posts: 1,673
Originally Posted by immolated
Wrong. Stashing $500k in a mutual fund and making $50k passively for the rest of my life feels better.
Throwing that money away into paying off a low or no % down property (FHA or VA loan especially) is a waste. You're literally losing almost $50k/yr by doing that, that's a bad feeling.
Throwing that money away into paying off a low or no % down property (FHA or VA loan especially) is a waste. You're literally losing almost $50k/yr by doing that, that's a bad feeling.
04-11-2022, 08:11 PM
#54
Gets Weekends Off
Joined APC: Oct 2006
Position: Center seat, doing loops to music
Posts: 825
Originally Posted by immolated
Wrong. Stashing $500k in a mutual fund and making $50k passively for the rest of my life feels better.
Throwing that money away into paying off a low or no % down property (FHA or VA loan especially) is a waste. You're literally losing almost $50k/yr by doing that, that's a bad feeling.
Throwing that money away into paying off a low or no % down property (FHA or VA loan especially) is a waste. You're literally losing almost $50k/yr by doing that, that's a bad feeling.
06-13-2022, 08:24 AM
#56
Gets Everyday Off
Joined APC: Aug 2016
Position: Relaxed
Posts: 6,928
Originally Posted by BLAHBLAHBLAH
Wonder how people are feeling now about refinancing paid off houses and investing in the market and Crypto now! I'll take a paid off house any day. Everybody has a plan until they get punched in the face (or wallet)!
The problem is people are emotionally driven, short sighted. They sell at a low point, and then panic and buy at a higher point.(Buy high, sell low, make emotionally driven stupid buying decisions.)
Refinancing at higher percentage, say, 5% has pretty well come to a halt. One does not refinance a 4% mortgage at 5%.
06-22-2022, 01:50 AM
#57
Gets Weekends Off
Joined APC: Mar 2006
Position: guppy CA
Posts: 5,152
Originally Posted by TransWorld
If one refinanced their home at say, 3% and taking their difference putting it in the markets is a long term (30 years or so) investment decision. The drop in the markets is short term. The markets will be coming back to new highs in the not too distant future. They always have, no matter how negative you feel right now.
The problem is people are emotionally driven, short sighted. They sell at a low point, and then panic and buy at a higher point.(Buy high, sell low, make emotionally driven stupid buying decisions.)
Refinancing at higher percentage, say, 5% has pretty well come to a halt. One does not refinance a 4% mortgage at 5%.
The problem is people are emotionally driven, short sighted. They sell at a low point, and then panic and buy at a higher point.(Buy high, sell low, make emotionally driven stupid buying decisions.)
Refinancing at higher percentage, say, 5% has pretty well come to a halt. One does not refinance a 4% mortgage at 5%.
We will be deep in a recession before inflation's under control. I don't expect the Fed to stop tightening until mid-2023 at the earliest so that's the earliest I see the markets starting to recover.
I am hoping that the S&P can hold 2500, but have my doubts. That's another 1/3 whacked off the value of the S&P.
06-22-2022, 09:08 AM
#59
Gets Weekends Off
Joined APC: Mar 2006
Position: guppy CA
Posts: 5,152
Originally Posted by BoilerUP
75 basis points is “small”?
I wouldn’t be surprised at another 75 basis points in July.
I wouldn’t be surprised at another 75 basis points in July.
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