Hi!

Should I have 1K to reimburse a loan, should I give it to my mortgage which
still has 20 years to go, or to my car loan which has 4 years to go? They
both have 5.8% cost.

Many thanks!


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Daniel
http://perso.dromadaire.com/cimetiere/spirituel.html
http://perso.dromadaire.com/cimetiere/psychophilo.html

On Sat, 21 Oct 2006 12:19:26 -0400, "cimetiere"
<cimetiere (AT) spammoncanoe (DOT) com> wrote:

reduces interest for a sooner mortgage free life.

Give it to the car and pay down the short term loan soonest. This
frees up money for annual mortgage balloon payments which gets the
mortgage paid out sooner.

Remortgage the house and include the car loan into one payment. Use
the payments you would have put into the car as annual balloon
payments on the mortgage. Don't be dumb enuff to think you now have
extra money to burn.

Go to your lending agent and see which method is most cost effective
and if you have the balloon payment option. Ask how annual balloon
payments shorten the mortgage agreement. Ask how much house you
actually own at this point and be surprised at how little equity you
have. In the first year of mortgage payments, you will have about 10$
worth of equity - the rest of the payment went to interest.

Figure out the value of the house (what you paid) vs the mortgage cost
(payments X 12 mos X yrs) and make your decision.

Pete

On Sat, 21 Oct 2006 12:19:26 -0400, "cimetiere"
<cimetiere (AT) spammoncanoe (DOT) com> wrote:


Now this a personal question, so personally I say holding a lean
against any property that doesn't appreciate with time is bad, so pay
extra on the car.

Just my option,

tom @ www.NoCostAds.com

I would be interested:
jakob147 (AT) gmx (DOT) de

"Tom The Great" <Post (AT) here (DOT) com> schrieb im Newsbeitrag
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