But in this case he's swapping home debt to pay for school debt

Jul 24, 2014
10:02:09pm

unctoothman

At least his mortgage interest is deductible. Student loan debt has income deduction limitations.

I'll keep my 2.7% mortgage the entire term.

Report problem with this ad

unctoothman

Bio page: unctoothman
Joined: Mar 15, 2006
Last login: Apr 27, 2024
Total posts: 69,584 (40,067 FO)

Report problem with this ad

Messages

Author

Time

CB experts, advise me. I was looking at Zillow and if I sell my house for what

buhlcougar

7/24/14 8:07pm

Where will you live if you sell it?

Triznaynay

7/24/14 8:11pm

BIL's basement

BIG XII Coug

7/24/14 8:11pm

but only if the wifi is available once a day.

WJCougar

7/24/14 8:24pm

We would rent.

buhlcougar

7/24/14 8:12pm

Not smart

Jersey hunter

7/24/14 9:45pm

Do you plan on living in the same area long term?

ChubbyChaser

7/24/14 8:17pm

The future is uncertain right now with my company currently being acquired.

buhlcougar

7/24/14 8:47pm

Why not hold on to it and make it an income property. Don't ever sell it.

WDaddy

7/24/14 9:03pm

Might make sense if the return on the capital is better than the savings

Jersey hunter

7/24/14 9:44pm

His interest savings on the student loans likely will not be enough

ChubbyChaser

7/24/14 10:15pm

<< Deleted >>

WDaddy

7/24/14 8:24pm

never pay down a fixed low interest loan when you expect inflation in the future

charles

7/24/14 8:42pm

It's rarely a bad idea to retire debt regardless of the change in inflation

Jersey hunter

7/24/14 9:39pm

Consider borrowing $10M at 0% fixed for 30yrs with 5% inflation. ???

charles

7/24/14 9:53pm

Why?

Jersey hunter

7/24/14 10:04pm

To make a ton of money

charles

7/24/14 11:04pm

But in this case he's swapping home debt to pay for school debt

unctoothman

7/24/14 10:02pm

I read he's swapping home equity for debt

Jersey hunter

7/24/14 10:09pm

Or if the home appraises for enough, refi for the remaining amount owed + his

unctoothman

7/25/14 10:30am

First, determine if Zillow is in the ballpark. Often they're WAY off. You can't

BYUFBDAD

7/24/14 9:17pm

It's only worth what ppl are willing to pay

GA_Coug

7/24/14 9:21pm

No, my baseball card collection is worth $478,325.23 total

Zach Morris

7/24/14 9:41pm

Just downsize your home and apply savings to debt to pay it off faster

Jersey hunter

7/24/14 9:35pm

you could see a major housing correction within

TXSmith

7/24/14 9:57pm

don't you hate typing on your iphone? I make the exact same mistakes haha

kotacoug

7/24/14 10:49pm

Are you seriously relying on Zillow's valuation? Bad idea.

Posting on CougarBoard