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Old 12-15-2010, 04:16 AM   #81
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Already have the first two.
You should buy some of the third... then it'd be something to own instead of rent. Kind of sad.
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Old 12-15-2010, 04:18 AM   #82
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You should buy some of the third... then it'd be something to own instead of rent. Kind of sad.
Economic discussion of fiat money, COMMENCE!
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Old 12-15-2010, 04:26 AM   #83
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Economic discussion of fiat money, COMMENCE!
Lol, not fiat money, just the nature of 'owning' a home and land.

Like they say, stop paying the bills (taxes) and you'll see who really owns it.
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Old 12-15-2010, 04:28 AM   #84
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Oh look, another thread turns political...
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Old 12-15-2010, 04:29 AM   #85
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Oh look, another thread turns political...
Yes. Now Citizen, pay your taxes mindlessly on your land and house. We will not tolerate political dissent!
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Old 12-15-2010, 04:38 AM   #86
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Meh, even with the taxes, I still turn a profit. Mindlessly, I don't think so, but there isn't another option.
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Old 12-15-2010, 08:04 AM   #87
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Non-LS Miata stuff? I'm open to suggestions.

Oh and add poly bushings to the list. Must get done.
I should have hyphenated better.

Non LS-Miata stuff. Non Miata stuff. Non car stuff. I have a house and land but given it's 18 ******* degrees here today I'd rather have that house and land somewhere that doesn't have a winter and doesn't have Balt-DC corridor cost of living. Hell I just want to move somewhere where my junk doesn't shrink up 5 months out of the year.
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Old 12-15-2010, 11:02 AM   #88
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Paid for? If so, your WAY ahead of the curve!
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Old 12-15-2010, 11:52 AM   #89
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Paid for? If so, your WAY ahead of the curve!
Who me? I'd never pay off my home loan early. In fact, I just refinanced back to 30 years. Given a 4.75 interest rate for 30 years, it doesn't make financial sense to me. Getting off topic a bit here though. But the chunk I spent on the Miata would have made me a decent amount of money in the stock market the last two years.
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Old 12-15-2010, 04:17 PM   #90
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Originally Posted by kotomile View Post
Already have the first two.

Him. Given the choice to pay off or refinance, wouldn't not having the debt be like money well spent?

To the free thinkers in here- Yes, you are only renting, but the return is worth it. If you don't think it is, you are not bound by chains to stay....
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Old 12-16-2010, 08:10 AM   #91
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Him. Given the choice to pay off or refinance, wouldn't not having the debt be like money well spent?
It's all math. And a little hedging my bets that I can do better than the actual interest rate of about %3.5 (after interest deductions) on a 30 year loan. Would you be happy with a 3.5% return on your investments over 30 years? I wouldn't. Paying a mortgage off early is like guaranteeing your ROI for 30 years at the rate of the loan minus interest deduction. There is no value in "feeling good about paying off my house" for me. There's a real value in getting a better investment return on my money. Not to mention the security of having a liquid asset if I need it instead of having money in home equity that I can't access if I really need it. Who's gonna give me a home equity loan to pay bills if I don't have a job? Banks certainly don't need any more houses from defaulted mortgages.

There was a thread in BS about investments a while back where I touched on all this stuff.
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Old 12-24-2010, 12:51 PM   #92
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Most of us aren't ballers like you, pulling 3.5% fixed interest home loans

Koto- Do it if you can't stand not to have the sound of a rumbling V8, you dream of a poor mans AC cobra, and you have the desire for instant linear torque. Past those things, the turbo is just as fun.
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Old 12-28-2010, 08:24 AM   #93
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Most of us aren't ballers like you, pulling 3.5% fixed interest home loans
I don't. Mortgage interest is tax deductible. So if you're in the %25 tax, your actual interest on that 5% 30 year fixed loan is 5 - 5(tax bracket) = 3.75.

I'm firmly in the Ric Edelman camp on this:

10 reasons to carry a big mortgage

Frank
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Old 12-28-2010, 09:44 AM   #94
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I don't. Mortgage interest is tax deductible. So if you're in the %25 tax, your actual interest on that 5% 30 year fixed loan is 5 - 5(tax bracket) = 3.75.

I'm firmly in the Ric Edelman camp on this:

10 reasons to carry a big mortgage

Frank
You can thank the Republicans (and some Dems) for letting you write that interest off - it was about to dissappear at some level if the tax cuts were not extended... write-able or not - you still paid it out of your pocket and won't see it again. That's like my Boss saying he needs to spend 30K on a new truck so he can write it off - now he's 300K in debt in loans and to the gov. I see where that got him! Some one needs to drop an amortization schedule and show how much more money you LOSE in interest vs. paying something off quicker - it's in the hundreds or thousands on a 200K house.

So what about this LS swap?
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