Talk of The Villages Florida - Rentals, Entertainment & More
Talk of The Villages Florida - Rentals, Entertainment & More
#1
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Mortgage
Anyone with a mortgage who does not have an escrow account who pays their taxes and insurance yearly. I am thinking I could put the escrow amount onto the mortgage principle every month and then just pay the taxes and insurance when they are due, thus paying the mortgage off in just a few years. Any comments? Thanks
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#2
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We paid off our bond and left our monthly mortgage payment the same. Thus, we were putting approximately $100 extra per month on our principal. When I did the new amortization schedule, I was amazed at how much it was positively affected. I would definitely recommend doing what you are suggesting.
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#3
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I basically did that with another property in Florida. I originally had a 30 yr mortgage and reduced it to 22 years by paying an extra 100 per month whenever I could. Well worth it to have it paid off early!
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#4
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In reality, they're different! |
#5
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we use what rent we get for our home to pay down the mortgage, so far so good
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#6
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