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In response to
"extra debt at zero percent is still extra debt -- nm"
by
pigby
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excellent articles, thanks. I'll sleep on it a couple days, but knowing that it's intrest free over 15 years now it's got me interested (reason inside
Posted by
dogbert183
Feb 10 '09, 21:35
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estimating the numbers: if I put the whole $7500 towards my mortgage starting immediately every monthly payment I make there will be an extra $35 that will go towards the principle payment instead of interest payments.
***this means I will basically "make" $35 a month on this loan, right?**** (the loan is paying for itself, right?)
also once I get up to 20% I can save another $115 or so a month, so it's really sounding like a good thing for me and my situation. again, I know I'll sleep on it a bit, but I really appreciate the info.
thanks!
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