Comments on: An interesting fixed-rate mortgage http://www.mightybargainhunter.com/2007/05/03/an-interesting-fixed-rate-mortgage/ Personal finance, commentary, and spending less the easy way Fri, 19 Mar 2010 14:24:44 -0400 http://wordpress.org/?v=2.8.6 hourly 1 By: Chris http://www.mightybargainhunter.com/2007/05/03/an-interesting-fixed-rate-mortgage/comment-page-1/#comment-50008 Chris Mon, 07 May 2007 20:18:58 +0000 http://www.mightybargainhunter.com/2007/05/03/an-interesting-fixed-rate-mortgage/#comment-50008 Just a question: why? If you are buying a $300,000 house, why concern yourself with saving a mere $200 a month with funky terms that only benefit the lender? Then in 10 years you are paying $450 extra for the same loan. Why make things more confusing? Now a 30 year fixed rate loan might not actually be a regular 30 year fixed rate loan? It should be classified as a different type of loan, as borrowers could easily be misled here. Really, I thought the whole idea of getting a great mortgage was paying as little to the lender as possible, not being thrilled about paying more. Just a question: why? If you are buying a $300,000 house, why concern yourself with saving a mere $200 a month with funky terms that only benefit the lender? Then in 10 years you are paying $450 extra for the same loan.

Why make things more confusing? Now a 30 year fixed rate loan might not actually be a regular 30 year fixed rate loan?

It should be classified as a different type of loan, as borrowers could easily be misled here.

Really, I thought the whole idea of getting a great mortgage was paying as little to the lender as possible, not being thrilled about paying more.

]]> By: fivecentnickel.com http://www.mightybargainhunter.com/2007/05/03/an-interesting-fixed-rate-mortgage/comment-page-1/#comment-49344 fivecentnickel.com Fri, 04 May 2007 10:26:52 +0000 http://www.mightybargainhunter.com/2007/05/03/an-interesting-fixed-rate-mortgage/#comment-49344 <strong>Weekly Roundup - 05/04/07...</strong> FMF has a list of six steps to avoid foreclosure. I have just one: pay your mortgage on time and in full. Flexo has a list of things that your body shop won’t tell you. Jim talks about adjustable rate mortgages. On the flipside, MBH talks about f... Weekly Roundup – 05/04/07…

FMF has a list of six steps to avoid foreclosure. I have just one: pay your mortgage on time and in full.
Flexo has a list of things that your body shop won’t tell you.
Jim talks about adjustable rate mortgages.
On the flipside, MBH talks about f…

]]> By: savvy http://www.mightybargainhunter.com/2007/05/03/an-interesting-fixed-rate-mortgage/comment-page-1/#comment-49268 savvy Thu, 03 May 2007 19:50:22 +0000 http://www.mightybargainhunter.com/2007/05/03/an-interesting-fixed-rate-mortgage/#comment-49268 This is a cool concept. If your friend can be discipled and increase their own payment amount by 2% a year in each of the first ten years, they will have very little increase in payments by year 11. This is a cool concept. If your friend can be discipled and increase their own payment amount by 2% a year in each of the first ten years, they will have very little increase in payments by year 11.

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