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Personal Finances / Buying or Selling a Home
|Subject: Re: We have accepted an offer on our home||Date: 7/3/2013 8:38 AM|
|Author: Rayvt||Number: 125715 of 127815|
Waiting for the buyer's mortgage has brought up all of the bad memories associated with mortgages. Remembering brings up all the old emotions. I working on emotionally detaching, but it isn't easy.
Work on it! It is generally the case that in finances, the more emotionally comfortable something is the less remunerative it is.
In the case of a mortgage these days, having a big mortgage is a financial no-brainer. A 30-year non-callable loan at a fixed rate of ca. 4%, which you can unilaterally refinance to a lower rate whenever you choose.
It's not that difficult to earn 6%+ inproperly chosen investments (bonds & preferred stocks).
Jumping through the hoops when getting a new mortgage is a pain, but after that you can earn a steady net 2%-3%. Set your payments up with automatic bill-pay, and you never need to fiddle with checks.
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