Tag: mortgage
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Strategic default is morally fine and financially smart in the right scenario
Walking away from an underwater mortgage isn’t a moral failing, it’s a contract clause. Here’s when strategic default is the rational, even ethical, move.
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Refinancing isn’t always a smart move
Refinancing is sold as an obvious win when rates drop, but the math is messier than the calculator suggests. Here’s what the savings number leaves out.
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Why paying off your mortgage early is an emotional decision, not a financial one
Paying off your mortgage early feels responsible, but the math usually argues against it. Here’s why this is a peace-of-mind purchase, not a wealth strategy.
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Debt isn’t always bad
The blanket warning against debt obscures useful distinctions. Here’s when borrowing actually builds wealth and when it quietly destroys it.
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Paying off your house early might be a mistake
Paying off a low-rate mortgage feels responsible but often costs more than it saves. Here’s the math behind why early payoff isn’t always the right move.
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The 20% down payment rule is outdated boomer advice
Saving 20% before buying a house made sense in 1985. Today it can cost more than it saves. Here’s when the old rule is wrong.
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Why some people should default strategically
Strategic default is treated as a moral failing, but for some borrowers it’s the rational financial move. Here’s when walking away makes sense.
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Recasting your mortgage is the move nobody talks about
Refinancing gets all the press, but mortgage recasting can lower your payment without resetting your loan term or paying closing costs. Here’s the catch.
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Interest Rates Matter More Than Price
Buyers obsess over sticker price and ignore the rate. On big purchases over long terms, the rate often determines total cost more than the negotiation.