Thread: How to Switch from 30 to 15 yr Mortgage w/ no Risk
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Old 01-26-2006, 11:49 AM
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Default Re: How to Switch from 30 to 15 yr Mortgage w/ no Risk
That is a great idea, Fern, I never quite thought of it that way. I took out a $50,000 mortgage to finish my house and I could not stand paying that interest, so I paid every single spare dollar I could get my hands on, on the mortgage. I got it paid off in less than 3 years.
I do sometimes borrow to buy land for spec houses. I have only had one early pay off pentalty and it was only for $150, but if it happens again, I am going to ask the bank to waive the pentalty. I am a good customer.
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