ST Alpha - "For 50K in loan principle wiped off the books forever, and a 2% 5 year fixed then 5.25% 25 year fixed. I bet you save more over the long run." (Reading a Post)

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In response to "The disincentive is that your credit is ruined for seven years." by nubby, Astronauts champion

For 50K in loan principle wiped off the books forever, and a 2% 5 year fixed then 5.25% 25 year fixed. I bet you save more over the long run.

Posted by Redmond (aka redmond) Aug 13 '09, 16:42

Even if you factor in the extra cost in credit and insurance.

Hell people in California with HUGE upside downs could save over 100K in principle easy!

Responses:

Then by all means. -- nm - nubby, Astronauts champion Aug 13, 16:43 1
- I am in all honestly thinking about it. I have consulted with several people in the business to see all the plus and minuses. - Redmond Aug 13, 16:45

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For 50K in loan principle wiped off the books forever, and a 2% 5 year fixed then 5.25% 25 year fixed. I bet you save more over the long run.

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