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From Kiplinger’s: 5 Steps Before Paying Off Your Mortgage Early

Tuesday, April 23rd, 2013

I received an email from Kiplinger’s with these five steps to take before paying off your mortgage early during retirement: • Pay off consumer debt—given today’s interest rates, you’re probably paying less than 5% on your mortgage, compared with about 13% on credit card balances. Paying credit card debt give you an instant return on […]

Are Housing Prices FINALLY Starting to Rebound?

Monday, September 10th, 2012

The cover story in this week’s Barron’s is about the housing market. Nothing’s wreaked quite the havoc on the U.S. economy, and indeed the national psyche, as the six-year slide in home prices. It wiped out some $7 trillion in household wealth, savaged bank balance sheets, and induced the Great Recession and the tepid recovery. […]

Robert Shiller: “Reviving Real Estate Requires Collective Action”

Monday, June 25th, 2012

Read this over the weekend: Reviving Real Estate Requires Collective Action What does he mean by “collective action”? Well, here’s one idea, which I find scary: ROBERT C. HOCKETT, a Cornell University law professor, has outlined another approach, which uses the principle of eminent domain, to solve this collective action problem. Eminent domain has been […]

More Talk of Mortgage Principal Reductions

Thursday, February 24th, 2011

In today’s WSJ: The Obama administration is trying to push through a settlement over mortgage-servicing breakdowns that could force America’s largest banks to pay for reductions in loan principal worth billions of dollars. Terms of the administration’s proposal include a commitment from mortgage servicers to reduce the loan balances of troubled borrowers who owe more […]

Facing Losses

Friday, January 21st, 2011

My last post brought a passage from Meir Statman’s What Investors Really Want: Know What Drives Investor Behavior and Make Smarter Financial Decisions* to mind regarding the housing market. The passage comes from Chapter 10 – We Want to Face No Losses: Houses sell quickly in boom times at prices that exceed list prices. Yet […]

Inflation and Your Mortgage

Thursday, September 16th, 2010

Mark’s comment on yesterday’s post inspired this post. Thanks, Mark! I have written about the impact of inflation on mortgage payments in the past (see: Your Mortgage May Not Be As Expensive As You Think It Is). The problem with old posts is that they get buried and no one ever reads them again. The […]

Things to Think About Before You Refinance Your Mortgage

Wednesday, September 15th, 2010

Larry Swedroe posted an interesting article on how to do the math on a mortgage refinancing to find out whether or not it’s to your benefit to refinance. He used the following example: • 12 years left on a 15-year mortgage. • Current mortgage rate is 4.75%. • Current monthly payment $1,369 • Current balance […]

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