So while I am deciding to refinance, A guy I know has been trying to get me to look at things differently. I've been back and forth over the last 9 years on which kind of mortgage is better. I used to think this way, was convinced to go with 15, now I'm looking at going back to 30.
15 year note, 3.25%. Payment is 1405
30 year note, 3.75%, Payment is 926
In 15 years, there is 122,550 left on 30 year note.
5748 difference/year in payments. You need to get 4.28%/year (post tax) to have an account worth that much. (2% net if you figure tax deduction in there)
Is that right? Is it that low? Can someone who is more numerically inclined than myself check those numbers?
Exaggeration is a BILLION times worse than understating.
Radio show is definitely not 40k crowd, but he markets his products to that crowd.
Radio show is his ultimate advertiser for his products. He has to have succesful people on there.
Not true. I have no debt other than a little left on my mortgage, no credit card debt and buy things (including vehicles) only when I can pay cash. I have a multiple month emergency fund. Dave helps a lot of people.
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