Confessions of a First-time Homebuyer

Reflecting on my decision to pay off my mortgage vs investing I have to come clean. Paying off my mortgage early was a bad financial decision. Buying on the heels of the 2009 housing market crash, I didn’t want to accept any more risk than necessary. From the start of my mortgage in 2010, it was my mission to pay it off as quickly as I could. After basking in the glow of my achievement, I wrote about how I saved $130,000 by paying off my mortgage early. That post earned me congratulatory messages and virtual pats on the back. It also got me this comment from a VP at…

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4 Reasons Not to Buy a House

So you're thinking about buying a house. Are you sure? Homes are typically the biggest purchase a person makes in their lifetime. Big purchases can mean big headaches. Consequently, it pays to think through all of the reasons you should and shouldn't buy a house. Let's run through 4 reasons not to buy a house. 4 Reasons Not to Buy a House 1. Remote Work The shift of jobs online in recent years provides opportunities not seen in the past. You can work from anywhere in the US or even in the world. You can live wherever you want, choosing to relocate whenever you desire. For those with a sense…

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How I Saved $130,000 by Paying Off My Mortgage Early

I admit I didn't completely know what I was doing when I bought my first home. I really only knew it was going to be the most expensive purchase I'd ever make. It wasn't until I saw the first monthly bill that I fully understood just how true that would turn out to be. After 9 years I saved $130,000 by paying off my mortgage early. Here I'll explain exactly how I did it so that you can also achieve financial freedom. Before getting into the details, the Mortgage Professor offers an invaluable spreadsheet for understanding mortgage loans, principal to interest ratios, interest totals, additional payments, and general what-if calculations.…

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