Comments on: Getting rid of the mortgage http://myblog.livingfinanciallyfreeministries.com/2008/12/22/getting-rid-of-the-mortgage/ Teaching you to become a better steward of God's resources. Sun, 06 Nov 2011 08:41:11 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: greg http://myblog.livingfinanciallyfreeministries.com/2008/12/22/getting-rid-of-the-mortgage/comment-page-1/#comment-6907 greg Sun, 08 Aug 2010 20:50:22 +0000 http://myblog.livingfinanciallyfreeministries.com/?p=771#comment-6907 @Penny - Thanks for the comment. I agree that renting for 30 years is a bad plan, but renting while saving for a down payment on a house is a good idea. If you save enough for a 20% down payment you will eliminate the need for PMI which in the long run will pay big dividends. @Penny – Thanks for the comment. I agree that renting for 30 years is a bad plan, but renting while saving for a down payment on a house is a good idea. If you save enough for a 20% down payment you will eliminate the need for PMI which in the long run will pay big dividends.

]]> By: Penny http://myblog.livingfinanciallyfreeministries.com/2008/12/22/getting-rid-of-the-mortgage/comment-page-1/#comment-6906 Penny Sun, 08 Aug 2010 20:22:20 +0000 http://myblog.livingfinanciallyfreeministries.com/?p=771#comment-6906 Good article; even if I don't totally agree with your math. Can you lose in the stock market? Yes. Can you also make large gains? Yes. It depends on what you invest in. You have to be willing to get burned, but considering I have a fixed rate mortgage of 5.50% that will not change it seems pretty good to invest some of my money. Of course still making my payments as normal. Will I pay more over the course of time for my home? Yes. But I agreed to that 'privilege' when I signed my paperwork, and didn't have the money upfront for my home. Though my home was purchased at an already low price in February. So, I do fully expect the price to go back up eventually. It is always good to not have debt, but just not feasible for a lot of people that are at the starting point of their adult lives. I could've alternatively continued to rent for more money than I pay for owning, and I would have nothing at the end of 30 years. At least I am working toward something - that's how I see it at least. Good article; even if I don’t totally agree with your math. Can you lose in the stock market? Yes. Can you also make large gains? Yes.

It depends on what you invest in. You have to be willing to get burned, but considering I have a fixed rate mortgage of 5.50% that will not change it seems pretty good to invest some of my money. Of course still making my payments as normal.

Will I pay more over the course of time for my home? Yes. But I agreed to that ‘privilege’ when I signed my paperwork, and didn’t have the money upfront for my home. Though my home was purchased at an already low price in February. So, I do fully expect the price to go back up eventually.

It is always good to not have debt, but just not feasible for a lot of people that are at the starting point of their adult lives. I could’ve alternatively continued to rent for more money than I pay for owning, and I would have nothing at the end of 30 years. At least I am working toward something – that’s how I see it at least.

]]> By: Is this a good time to prepay our mortgage? | Managing Money God's Way http://myblog.livingfinanciallyfreeministries.com/2008/12/22/getting-rid-of-the-mortgage/comment-page-1/#comment-64 Is this a good time to prepay our mortgage? | Managing Money God's Way Mon, 05 Jan 2009 23:04:49 +0000 http://myblog.livingfinanciallyfreeministries.com/?p=771#comment-64 [...] know how I feel about debt, including mortgage debt. As a matter of fact, just last week I posted about this very topic. This week I came across an article at CNNMoney.com that asked, [...] [...] know how I feel about debt, including mortgage debt. As a matter of fact, just last week I posted about this very topic. This week I came across an article at CNNMoney.com that asked, [...]

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