pay off mortgage

[cute fuzzy bunny]

Bridget...I did that but I stayed in CA. While we have a stiff income tax, our prop 13 property taxes are a good deal and health care here is cheaper than a lot of places. Plus its tough to beat the weather.

I'd just like to see the "outlying areas" go back to being more affordable. Having places in the middle of frickin nowhere that are priced almost as high as really nice areas really galls me.

 

[Ginger]

Th, I also live in California. Thank the heavens for Prop 13. Can you just imagine what our property taxes would be if we didn't have this safety net. We are still not sure if we will 'take the money' and run out of State. Don't think Arnold will touch Prop 13, do you?

 

[Mr._johngalt]

I don't think Arnold will touch Prop. 13. Obviously he is not
nearly conservative enough to suit me. Still, if I voted, I would vote for him. A winner with a sense of humor............what's not to like?

JG

 

[ronin]

A 2 faced, lying egotist with no clue how to govern?  Yeah, what's not to like.

 

[cute fuzzy bunny]

ROFL.

 

[Mr._johngalt]

A 2 faced, lying egotist with no clue how to govern?  Yeah, what's not to like.

Yeah, his predecessor was doing a swell job

Jg

 

[laurence]

Certianly can't muster the energy to defend Gray Davis, but Arnold is on a record pace to break the most promises in the least amount of time. Promising education would be hurt "over my dead body", then borrowing 2 billion from the education fund and saying, "nah, Anold will not pay baak, stick araound, this is my veak aaam, remembah when I said I kill you last? I lied!" . Yeah, great guy.

 

[Mr._johngalt]

Certianly can't muster the energy to defend Gray Davis, but Arnold is on a record pace to break the most promises in the least amount of time.  Promising education would be hurt "over my dead body", then borrowing 2 billion from the education fund and saying, "nah, Anold will not pay baak, stick araound, this is my veak aaam, remembah when I said I kill you last?  I lied!" .  Yeah, great guy.

Well, I love the guy (of course I don't live in Calif.). He is way better than the
&**^#&&* of a ++*^#@*& we have here in Illinois. Sure, he is way to the left of me on the political scale. So is most of the population, and a lot of those who might
otherwise fit into my mold are in prison. It gets lonely way out here on the fringe

JG

 

[JWV]

He certainly endeared himself to thousands of nurses with his "kick their butts" statement. What is this man thinking?

Speaking of butt, he'd better assign a special security detail to his if he's ever sick, cause most medication can be given 'per rectum'. You know for the better absorption...

Judy

 

[ronin]

He has managed to piss off just about every political entity in California.  He is now a 1st term lame duck.  He will be prevented from accomplishing anything.  His plan is to govern by the initiative process, but so far the proposals have been poorly thought out and riddled with flaws.  CTA alone will probably spend whatever is necessary to crush him at the polls.

 

[laurence]

You get that big glossy packet in the mail from ahnold this week? He's mailing every household his petition to get his agenda on the ballot. I wonder what that cost, who paid for it, and what we could have done with the money instead? I did vote for the guy, but I've been dissapointed so far. You can only break so many promises.

JG, you have a lot of opinions on politics for someone who doesn't vote! Reconsider that decision, too few people vote as it is, and I rather have informed voters come back to the polls, even if I don't always agree with them.

 

[Nords]

Yes, pay off the mortgage.

Our variable rate mortgage has been excellent over the last 5 year at about 4%. It is now going to adjust to 6.3 or another $93/month ($523 P&I). Balance is $78,400.

My question is:
What is advantage of paying off mortgage in Nov. this year? Is there a rule of thumb or calculator somewhere. Every calculator I find has to do with reinvesting the money not using the previous mortgage $$ to go toward monthly expenses in retirement.

I hope this explains my situation and my question...This site and FireCalc have been invaluable in helping me to plan our retirement and keep expenses very low using no load mutual funds with low expense ratios. All the best...Ted

If you haven't already, read this thread and then run the two scenarios in FIRECalc.

IMO it's gonna be hard to make money by holding a variable-rate mortgage.

But NFCU is still offering 5.5% fixed-rate 0-point 80% LTV loans. You may be eligible for their membership or some other credit union may be as competitive.

Keep in mind that "run the numbers" and "sleep at night" are two completely different discussions with equal validity. If you feel better with the second then it just doesn't matter how good the loan is.