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Rate this stupid financial question from a dumb goy
| tan supple senate | 06/18/17 |
| Fighting international law enforcement agency | 06/18/17 |
| dashing lake fat ankles brethren | 06/18/17 |
| tan supple senate | 06/18/17 |
| razzmatazz bearded main people | 06/18/17 |
| disturbing appetizing french chef | 06/18/17 |
| razzmatazz bearded main people | 06/18/17 |
| Bat-shit-crazy dilemma | 06/18/17 |
| massive carmine institution volcanic crater | 06/18/17 |
Poast new message in this thread
Date: June 18th, 2017 11:13 PM Author: tan supple senate "Q: I recently retired to a small house I bought 30 years ago. I refinanced four times to get the rate down from 11 percent to 3.5% percent. This provided me with a low monthly mortgage (just under $450), but my current 30-year loan won't be paid off until I'm 92. I'll be 67 in two months, and just received an inheritance of $400,000 following the death of my parents. My only income is $2,000 a month from Social Security and a monthly pension check of $1,100, although I do have an IRA that should be worth roughly $170,000 by July.
I'm thinking about paying off the $90,000 remaining on my mortgage, which would allow it to be passed on to my sister, nephew (or whomever) without any complicated bank or loan issues. It also would free up that mortgage payment for other household expenses. The house needs some work, such as a new carport, double-pane windows, proper insulation, deck repair and maybe termite work, all of which will probably eat up the better part of $100,000. Is it worth keeping the loan just to maintain the tax deduction or does it makes financial sense to pay it off?"
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Date: June 18th, 2017 11:14 PM Author: Fighting international law enforcement agency tldrtlag
(too long, didnt read to laugh at goy) |
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Date: June 18th, 2017 11:14 PM Author: dashing lake fat ankles brethren (http://www.autoadmit.com/thread.php?thread_id=3651700&forum_id=2#33590502) |
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Date: June 18th, 2017 11:15 PM Author: tan supple senate Bought a house at 36 and kept refininancing so it won't be paid off until age 92 (http://www.autoadmit.com/thread.php?thread_id=3651700&forum_id=2#33590511) |
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Date: June 18th, 2017 11:16 PM Author: razzmatazz bearded main people only an idiot would pay off a 3.5% mortgage faster than he has to. (http://www.autoadmit.com/thread.php?thread_id=3651700&forum_id=2#33590518) |
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Date: June 18th, 2017 11:19 PM Author: disturbing appetizing french chef (Not TCTP) (http://www.autoadmit.com/thread.php?thread_id=3651700&forum_id=2#33590542) |
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Date: June 18th, 2017 11:20 PM Author: razzmatazz bearded main people don't know the backstory here, but i assume this means i'm not an idiot. (http://www.autoadmit.com/thread.php?thread_id=3651700&forum_id=2#33590546) |
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Date: June 18th, 2017 11:30 PM Author: Bat-shit-crazy dilemma No concept of forward time planning (http://www.autoadmit.com/thread.php?thread_id=3651700&forum_id=2#33590601) |
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Date: June 18th, 2017 11:40 PM Author: massive carmine institution volcanic crater where'd you get this from? (http://www.autoadmit.com/thread.php?thread_id=3651700&forum_id=2#33590650) |