Comments on: The Simple Dollar Morning Roundup: Deep Sleep Edition http://www.thesimpledollar.com/2006/11/28/the-simple-dollar-morning-roundup-deep-sleep-edition/ Financial talk for the rest of us Sat, 16 Feb 2013 01:14:45 +0000 hourly 1 http://wordpress.org/?v=3.5.1 By: Jerry http://www.thesimpledollar.com/2006/11/28/the-simple-dollar-morning-roundup-deep-sleep-edition/#comment-610441 Jerry Sat, 04 Apr 2009 23:44:22 +0000 http://www.thesimpledollar.com/2006/11/28/the-simple-dollar-morning-roundup-deep-sleep-edition/#comment-610441 My way of paying off my mortgage early is simple: Half the net pay from any pay raise or bonus goes to the principle on my house. At my current rate I should have my home paid for in 36-42 months.

Oh, as of March 24, 2009 I have NO debt other than my home. Yay me.

]]> By: kj http://www.thesimpledollar.com/2006/11/28/the-simple-dollar-morning-roundup-deep-sleep-edition/#comment-457826 kj Wed, 31 Dec 2008 23:45:38 +0000 http://www.thesimpledollar.com/2006/11/28/the-simple-dollar-morning-roundup-deep-sleep-edition/#comment-457826 Re ‘a new way to pay off a loan’ this should read ‘a new way not to pay off the loan’. Take it from an Aussie, they make it too easy to exceed your income and very easy to slowly increase your loan, or have it at the limit for years. The experience here is that people who do this on average take longer to pay off the loan.
Think of it as a very big credit card with low interest. You just keep treading water mostly and not actually paying it off.

They were heavily promoted in Australia and I know why. They are the perfect loan for the banks. Customers will have a permanent loan.

Dont do it!!!!

kj

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