Archives For Mortgage

170 DSR – The Word Mortgage

October 2, 2014 — Leave a comment

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mortgage

What does the word mortgage mean? It may surprise you.

Mort –
1) a note sounded on a hunting horn when the a deer is killed.
2) killing

Gage –
1) a token of defiance; specifically: a glove or cap cast on the ground to be taken up by an opponent as a pledge of combat.
2) something deposited as a pledge of performance.
3) pledge, stake, or risk.

There isn’t anything about those word meanings that give me a good feeling. How about you?

Give us a call on our voicemail listener feedback line at 615-200-7189 or drop Greg an email at:
greg [at] debtshepherd [dot] com

In Mortgage, Motivation, The Basics , ,
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127 DSR – I’m Asking For Advice

August 31, 2013 — Leave a comment

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advice_for_web

Listener appreciation – John from NYC sent us an email.
Rebecca from Germany sent us an email and some voicemails.

Mortgages –

I owe $64k. Have ability to owe $54k now and $44k in a yr.
If we prepay principle balance we can be mortgage free in 3.5 yrs.
Wife will retire in 2-3 yrs.

Do we stay and pay down the mtg? or
Do we move and borrow $100 to $125k?

Here – clean, safe, quiet. Pmt less than $800/mo.
2 BR – 1.5 BA, 1,200 sq. ft. condo

There – clean, safe, quite. Pmt same
3 BR – 2 BA, 1,300 sq ft. / .50 acres, fenced yard, add 40 min. to work commute for a total of 1 hr. drive to work each day.

Give us a call on our voicemail feedback hotline at 615-200-7189 or drop Greg an email at:
greg [at] debtshepherd [dot] com

There is no need to copyright truth.

In Get Personal, Mortgage , ,
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041 DSR – Habitat for Humanity Mortgage Victory

August 21, 2012 — Leave a comment

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Habitat

Headline:
Couple just second in Knox to pay off Habitat mortgage
By Morgan Simmons / Posted 02/26/2010 / knoxnews.com

There’s no excuse for you to stay in mortgage debt. A Knoxville, TN couple paid their mortgage off 7 years early with discipline and a plan.

They have two kids, two jobs each, and a history of living in the projects and on welfare. But they did it! So can you.

The $100/month difference. Pre-pay just $100/month on your mortgage and own your home free and clear about 7 years ahead of schedule.

Resource:
Habitat Mortgage

Questions:
Where can I find $100 a month in my budget to pre-pay my mortgage?
What would it feel like to not have a house payment?

Action:
Sit down, write down all your monthly expenses and find $100/month you can pre-pay your mortgage with.

Give us a call on our voicemail feedback hotline at 615-200-7189 or drop Greg an email.

In Money News, Mortgage , ,
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037 DSR – Pay Off Your Mortgage Faster

August 10, 2012 — Leave a comment

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mortgage
Show Notes:
When do you pre-pay?
Why do you pre-pay?
How do you pre-pay?

Example:
$100,000, 30 year loan
3.5% interest, $450/mo payment
$61,000 interest paid
You pay back $100k PLUS $61k.
That’s not a 3.5% interest rate.
That’s a 61% interest rate.
It’s only a 3.5% interest rate if you pay back the entire balance borrowed $100k in the first year.

The below numbers are approximate:
$100 month difference
Turn 30 yr loan into a 21.5 year loan
8.5 years saved
$18,800 interest saved.

$200 month difference
30 into a 17 yr loan
13 years saved
$28,600 interest saved

$300 month difference
30 into 15 yr loan
15.8 years saved
$34,700 int saved

Give us a call on our voicemail feedback hotline at 615-200-7189 or drop Greg anemail

In Mortgage , ,
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Buying Your First Home

June 7, 2012 — Leave a comment
In Mortgage
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Should You Refinance Your Mortgage?

May 20, 2012 — Leave a comment

How to do it smart and really make it work….

In Mortgage
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Adjustable Rate Mortgage: Yes or No?

April 29, 2012 — Leave a comment

Is an adjustable rate mortgage a good idea?

In Mortgage
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