Originally Posted by vwnate1

O.k., thanx ~ I didn't know that .

When I bought my current house they skinned me for an extra 1%, it was supposed to be 13% but on signing day it was 14%, back then I was married , I smelled a rat but my young bride insisted 'just sign it, it's "only" 1% difference'....

She didn't grasp it .

I did and paid whatever extra I could manage every month for years and years, chipping away at the all important principal ~ you and I get it, many do not grasp that addition is cumulative so reducing the principal is as important as that monthly interest nut .

My plan is : have this dump paid off by the time my grand daughter (7 Y.O.) comes of age and give her a property, the house is a tear down but the lot has value .

I remember when vehicle loans were fixed and you couldn't $ave by paying down the principal .

To the newbie Avery , it's not $200 / month, it's 200 $aving$ / month .