bi-weekly instead of weekly, but we're going to have our mortgage paid off
in about 12 years instead of 30. That's well over $150,000 we will save.
That's WAY better savings than what the tax writeoffs would provide. And our
home is our only debt. Period. Imagine what you could do if you had all of
your paycheck for yourself and didn't have to make that mortgage payment.
Just investing the equivalent of the mortgage payment each month would go a
looong way to having a very posh retirement.
-Kevin
> I am looking at buying a $232,000 house this summer. Starting with a 30
year mortgage.
> I am putting about $75,000 down.
> I will have the option to pay weekly on the mortgage (instead of monthly),
which will cut the loan down to 21 years right there.
> I will pay extra monthly payments which go directly to the principal.
(consulting lump sums go right in after taxes.)
> I expect to have the house paid off in 6 years. Maybe 7.
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