mortgage prepayment

I came across Borrowing 401k Savings to Refinance Mortgage at Trees Full of Money. The article was mathematically interesting, and it’s worth analyzing this because many Americans are in a similar predicament. Here’s the premise:

A couple wants to refinance their mortgage from a 30-year fixed at 6% APR loan to 15-year fixed at 4.5% loan, [...]

I wrote about Dave Ramsey’s Baby Step 6: Pay Off Home Early about a year ago, and I’d like to revisit the question of “Should you pay off your mortgage early?” in light of today’s economic crisis.

In the Dave Ramsey article, I examined both the advantages and disadvantages of paying off your home loan early, [...]

Following the success of previous Frugal of Cheap Test, I am going to throw another one out there for your enjoyment. I hope that you’ll like this Financial IQ Test as much as the last one and find it somewhat educational as well. Please note that I’ve included a link or two for some questions. [...]

I’d like to do a quick roundup this week to highlight some new features introduced in the past few days. I think you will really like these:

Recent Discussions – On the main navigation bar, the second link is “Discuss“. This link displays 30 posts with recently added comment. If you are familiar with discussion forums, [...]

Should You Pay Off Your Mortgage Early? This is an age-old question with no definitive answer. There are people who believe paying off mortgage as fast as possible is better, and there are people believe investing the difference is better.
Dave Ramsey advocates paying off home loan early in his book The Total Money Makeover. I [...]

I mentioned previously that I made many financial mistakes in the past. One of the more serious ones was refinancing my mortgage from 30 years to 15 years in 2003 (about 4 years after I purchased my home). On the surface, I did a brilliant job of saving nearly $97,000 in interest expenses and ending [...]