Sentences with phrase «pay off my mortgage so»

A $ 250,000 term life insurance policy can be a handy way to pay off a mortgage so they own the home free and clear.

A $ 250,000 term life insurance policy can be a handy way to pay off a mortgage so they own the home free and clear.

If you don't survive the policy, it will do as it was intended to do — pay off the mortgage so your family won't have to worry about continuing the mortgage payments.

As an example, if you have life insurance to pay off your mortgage so that your family can remain in your home should something happen to you, but your mortgage balance will be paid off in ten years, then it may make sense to cover that need with an inexpensive term policy rather than a more costly whole life insurance plan.

Not exact matches

Cook has a 30 - year mortgage with the option to pay it off early with no penalty, so she says she plans to live in the house and pay it off in four to five years before renting it out and moving into «more of a permanent long - term place with ideally a husband, or a boyfriend or whatever happens.»

Children have left home, or you may have paid off the mortgage that provided a deduction for so many years.

So the bank is hoping customers will agree to pay off their mortgage quicker in exchange for a lower interest rate.

So your argument is that because interest rates have been kept artificially low (effectively ripping everyone off with a manipulated money supply that's becoming more worthless by the day) that paying 6 % for a mortgage (which at one point was low) is getting ripped off?

It's designed to help homeowners better manage their student loan debt and can help you quickly pay off your student loans so you can focus on paying your mortgage.

As you pay off your mortgage, a smaller portion of each payment goes toward interest, so there's less interest to deduct.

The mortgage can be paid off, but the rate is only 3.125 %, and the interest is an expense deduction so I'd rather have the liquidity.

Today we're diving into those thoughts and feelings, and — because we got so many questions about it — diving into why we did pay off the mortgage on our house but why we're not paying off the mortgage on our rental anytime soon.

With a 15 - year mortgage, you will be paying off the same amount of money in less time so your monthly payments will be higher.

I recently paid off one of my mortgages and want to grow my other assets so RE becomes no more than 25 % of net worth.

Well, in my case, the debt is mortgage debt, so once it's paid off it'll increase cashflow, drop risk, and clear out a slot for (you guessed it) more properties.

A refinance with any loan term, though, can lower your interest rate so much that it no longer makes sense to pay off the mortgage.

I won't have that so I see a third option as maintaining a permanent - ish portfolio, then diversifying into property at or near retirement by paying off a buy to let mortgage (unless rising interest rates — or poor returns — have already made this cost effective).

So instead of selling the securities, the Fed plans to stop reinvesting principal, for instance, when a mortgage is paid off.

In practice that means that for every pre-tax dollar you earn each month, you should dedicate no more than 36 cents to paying off your mortgage, student loans, credit card debt and so on.

One would hardly realize that the problem facing U.S. industrial employment is that wage earners must earn enough to pay for the most expensive housing in the world (the FDIC is trying to limit mortgages to absorb just 32 per cent of the borrower's budget), the most expensive medical care and Social Security in the world (12.4 per cent FICA withholding), high personal debt levels owed to banks and rapacious credit - card companies (about 15 per cent) and a tax shift off property and the higher wealth brackets onto labor income and consumer goods (another 15 per cent or so).

The mortgage is paid off so there is no interest deduction to offset the tax.

A 40 - year fixed - rate mortgage is generally a less popular option both because it takes so long to pay off the loan and because you end up paying a lot in interest.

And at the same time I can either keep renting the property until the mortgage is paid off in about 6 years or so, and can own the property at 26!

Every debt we've paid off so far has been like pink, strawberry frosting, and I bet the mortgage will be like the whole cake.

Now that I have some land I'm trying to learn to grow some of my own food, and I already round up the mortgage payment every month even though money is super tight, but if I get $ 100k extra in writing income over the next however many years, I could pay off the mortgage, get proper insulation for this drafty old place, and put solar panels on the roof, at which point I could live comfortably on about $ 1000 a month (except for the unexpected stuff), so that is my current dream.

On the other hand, if your goal is to pay off your mortgage faster so you're debt - free or you want to reap a larger profit when you sell, a shorter term loan can be a viable option.

Additionally, a reverse mortgage pays off any existing mortgage so you are no longer responsible for those monthly payments.

So buyers who put off their purchases until later in the year could potentially pay more for a home and a mortgage.

I'd focus more on paying off consumer debt, allocate more money towards my mortgage principal and delay large purchases so I could avoid paying more interest.

Outside of the above two reasons, if you have the means to pay off your credit card balances, it probably makes sense to do so — regardless of whether or not you are applying for a mortgage — simply because credit card rates are so much higher than today's savings account rates.

Funds from the reverse mortgage are used to pay off the liens first, so there needs to be at least enough equity to cover this amount.

So is it possible to pay off your mortgage faster?

Mortgage life insurance offers enough coverage to pay off your mortgage in case you pass away, so that your family will not have Mortgage life insurance offers enough coverage to pay off your mortgage in case you pass away, so that your family will not have mortgage in case you pass away, so that your family will not have to move.

Posted fixed mortgage rates have always been above government bond yields so paying off your house will offer a higher return over the long - term.

But if you're paying rent, and worried about being able to pay rent when you retire, the obvious choice is to buy a flat now on a thirty - year mortgage so that you can stop paying rent and the mortgage will be paid off by the time you retire.

Generally the rent will cover the mortgage payments and probably a letting agent / property management company's fees, so while you won't see any actual net income, the people renting will be paying the mortgage off and you'll be building equity on the home.

Then there's the fact that these costs arise many years from retirement: parents in their 30s and 40s usually can't afford to put away much for retirement, so the bulk of their saving tends to come after the kids have left home and the mortgage is paid off.

But I'd say the higher priority should be getting money into a tax - advantaged retirement account (a 401 (k) / 403 (b) / IRA), because the tax - advantaged growth of those accounts makes their long - term return far greater than whatever you're paying on your mortgage, and they provide more benefit (tax - advantaged growth) the earlier you invest in them, so doing that now instead of paying off the house quicker is probably going to be better for you financially, even if it doesn't provide the emotional payoff.

Consider what it would really cost to replace the house — to rebuild and pay for living while you do so (including demolition, etc.) and / or pay off the mortgage and return your equity if it is a financed property.

It is great for the chronic overspenders to have their mortgage paid off so when they rack up credit card bills and get behind, well they still hae a place to stay.

So reasons that paying off your mortgage should be almost LAST (given current low long - term interest rates):

He and his wife scrimped and saved so they could pay off the mortgage on their first home in just six years.

yes and no its definitely not charitable as they are making money of off you but depending on the outside conditions if you had to pay a mortgage on that condo with only 35k in payments to start off it would more than likely exceed 500 dollars a month however there would always be a point were the mortgage would end and it dosent sound like thats going to be the case with you paying your parents so it depends on how long your going to have that condo and how much mortgage would have been.

I'll share that some people are still advocating paying off their sub 4 % mortgages, and doing so with a zeal that boarders on religiosity.

So, currently, we are leaning to keeping our mortgage amount as is but starting a HELOC to pay off the debt at a lower prime rate.

So let's look at how you can, first, get your score to where you'll qualify for the refi and, then, be able to pay off the remaining card debt with the proceeds from the newly refinanced mortgage.

So literally, your mortgage payment is going down every month at an accelerating rate as you pay your mortgage off and depending on how the numbers work out, you literally can pay your mortgage off in about five to seven years.

Some critics believe that 50 - year mortgages essentially are the same as interest - only mortgages because they take so long to pay off.

The thought behind this is that once your term ends, your children are grown, your mortgage may be nearly paid off, and you're not far from retirement, so life insurance coverage is no longer a necessity.

They carry term limits because carriers expect most large financial needs to resolve on their own after a certain amount of time — once the kids are out of college and paying their own way, once the mortgage is payed off, and once you retire, the replacement income a term plan offers should be unnecessary, so your coverage can come to an end.