Image: Cap Hit Breakdown of Supposed 4 vs 5 Year Offers to Dak

[Whirlwin]

straight from your link and this one is making 4 extra payments a year

How to Pay Off Your Mortgage Early
Every dollar you add to your regular payment each month puts a bigger dent in your principal balance—and you don’t have to double-down to make a difference. Adding just one extra payment each year knocks years off your mortgage!

Here are some other options for paying extra on your mortgage and how those extra payments affect, as an example, a $220,000, 30-year mortgage with a 4% interest rate:

1. Make an Extra House Payment Each Quarter
You’ll pay your mortgage off 11 years early, and you’ll save more than $65,000 in interest.

If you pay extra each month it’s eight years. If you pay extra each quarter it’s 11 years. If you pay one lump sum it’s 12 to 13 years Now you’re getting it

 

[Whirlwin]

Wow, after multiple pages on how to payoff your mortgage early, I'm ready for some Dak threads!

I’m from the old Cowboys fan forum . We talked about for everything from how big is she. She’s so big she sells shade. All the way to what color underwear girlfriend has. This form is a little bit different but I like it

 

[FuzzyLumpkins]

A fact is a fact and you can’t change it.Professional or not. And how do you know I’m not LOL

Because I know for fact that refinancing from a 30 year to a 15 year note increases your payments by a lot more than 1/12.

Then there are links like this one which directly refutes your claim.

Make one extra payment a year
For some borrowers, the monthly budget is already stretched thin. Instead of increasing each monthly payment, a lump sum payment equivalent to one regular monthly payment per year can have a similarly positive effect. This may be ideal for borrowers who receive a tax refund or annual bonus once per year. For example, the same 25-year loan of $250,000 with interest at 3.75% would keep the lower monthly payment of $1,285.33. By paying one extra payment of $1,285.33 each year, a loan amortization schedule with extra payments shows that you would repay the loan 2 years and 11 months earlier and save $17,381.35 in interest.

https://www.interest.com/mortgage/3-free-ways-to-pay-your-mortgage-faster/

Now people know that you are unreliable and never to be taken at face value.

 

[bud914]

Each quarter is calculated differently than one lump sum a year. What’s so hard to understand about that statement.

so you are saying if my mortgage is $1000 a month and i make one extra $1000 payment a year it will reduce my years from 30 to 17

but if i make 4 extra $1000 payments quarterly each year it will only reduce my mortgage from 30 to 19 years...

does that seem correct to you??

 

[Whirlwin]

straight from your link and this one is making 4 extra payments a year

How to Pay Off Your Mortgage Early
Every dollar you add to your regular payment each month puts a bigger dent in your principal balance—and you don’t have to double-down to make a difference. Adding just one extra payment each year knocks years off your mortgage!

Here are some other options for paying extra on your mortgage and how those extra payments affect, as an example, a $220,000, 30-year mortgage with a 4% interest rate:

1. Make an Extra House Payment Each Quarter
You’ll pay your mortgage off 11 years early, and you’ll save more than $65,000 in interest.

Boy try to help people out it’s torture no wonder why they don’t tell you. LOL good luck congratulations

 

[Whirlwin]

Because I know for fact that refinancing from a 30 year to a 15 year note increases your payments by a lot more than 1/12.

Then there are links like this one which directly refutes your claim.



https://www.interest.com/mortgage/3-free-ways-to-pay-your-mortgage-faster/

Now people know that you are unreliable and never to be taken at face value.

I am known for my integrity. So you’re wrong again

 

[Whirlwin]

Because I know for fact that refinancing from a 30 year to a 15 year note increases your payments by a lot more than 1/12.

Then there are links like this one which directly refutes your claim.



https://www.interest.com/mortgage/3-free-ways-to-pay-your-mortgage-faster/

Now people know that you are unreliable and never to be taken at face value.

I don’t care if you don’t believe me and who does or doesn’t. It’s not my money I’m losing

 

[Whirlwin]

so you are saying if my mortgage is $1000 a month and i make one extra $1000 payment a year it will reduce my years from 30 to 17

but if i make 4 extra $1000 payments quarterly each year it will only reduce my mortgage from 30 to 19 years...

does that seem correct to you??

No your second calculation is only eight years

 

[bud914]

No your second calculation is only eight years

not following, the 4 $1000 payments only reduce by 8 years???

 

[Whirlwin]

so you are saying if my mortgage is $1000 a month and i make one extra $1000 payment a year it will reduce my years from 30 to 17

but if i make 4 extra $1000 payments quarterly each year it will only reduce my mortgage from 30 to 19 years...

does that seem correct to you??

What. Quarterly means less. You split the thousand four times. That’s $250. Come on now

 

[Whirlwin]

not following, the 4 $1000 payments only reduce by 8 years???

One last time. You can pay monthly you can pay quarterly you can pay yearly. Monthly drops it maybe 3 to 4 years, quarterly drops at 5 to 8 years, yearly drops it 12 to 13 years

 

[bud914]

What. Quarterly means less. You split the thousand four times. That’s $250. Come on now

no i put the full mortgage payment in 4 times a year in the calculator

 

[Whirlwin]

not following, the 4 $1000 payments only reduce by 8 years???

You make four extra $1000 payments your mortgage will be gone in no time LOL but who can do that

 

[FuzzyLumpkins]

I don’t care if you don’t believe me and who does or doesn’t. It’s not my money I’m losing

Of course you don't. Anyone who cared about their credibility would actually support their assertions. You not caring about it just speaks more to your lack of it.

What you think is immaterial to me at the end of the day. When I am speaking to your credibility I am addressing our audience. this is a public forum not a chat room.

It is easily discerned you are not being truthful for everyone to see.

 

[bud914]

One last time. You can pay monthly you can pay quarterly you can pay yearly. Monthly drops it maybe 3 to 4 years, quarterly drops at 5 to 8 years, yearly drops it 12 to 13 years

no i put the full mortgage payment in 4 times a year in the calculator

 

[Whirlwin]

no i put the full mortgage payment in 4 times a year in the calculator

You don’t even know if that calculation is correct. I tried it didn’t work. Like I’m not trying to do anything but help somebody it’s no skin off my back if you don’t believe me.

 

[Whirlwin]

Of course you don't. Anyone who cared about their credibility would actually support their assertions. You not caring about it just speaks more to your lack of it.

What you think is immaterial to me at the end of the day. When I am speaking to your credibility I am addressing our audience. this is a public forum not a chat room.

It is easily discerned you are not being truthful for everyone to see.

Stop playing with words. You’ll get a headache Everybody that knows me on this forum in the old forum. Those are the people that respect me and I respect them. I don’t know you I know nothing about you. So don’t dare judge me because you don’t know me

 

[Whirlwin]

no i put the full mortgage payment in 4 times a year in the calculator

Fine you still save money but not as much.

 

[bud914]

You don’t even know if that calculation is correct. I tried it didn’t work. Like I’m not trying to do anything but help somebody it’s no skin off my back if you don’t believe me.

ok, not sure why you think you are the only one that is correct BUT everything everyone else posted contradicts you. And then when i use the calculator on your link you say it doesn't work.

Sorry dude but you are way off on this one but whatever.

and once again, straight from your link
1. Make an Extra House Payment Each Quarter
You’ll pay your mortgage off 11 years early, and you’ll save more than $65,000 in interest.

 

[Whirlwin]

Of course you don't. Anyone who cared about their credibility would actually support their assertions. You not caring about it just speaks more to your lack of it.

What you think is immaterial to me at the end of the day. When I am speaking to your credibility I am addressing our audience. this is a public forum not a chat room.

It is easily discerned you are not being truthful for everyone to see.

I have over 100,000 posts on the old Cowboys fan forum. Never press the report button never put anyone on ignore. This is a strange Forum. Most people here don’t have integrity from what I see. A lot of hypocritical statements. By me saying I don’t care it’s not my money what’s the support my argument. By saying why would I tell you this if it wasn’t true. I’m having an issue with the way you think maybe you are the One with lack of integrity. That’s the way you think. So I must be true