Old Nov 21, 12, 8:46 pm
Join Date: Feb 2001
Location: Ann Arbor, Michigan
Programs: Airline Free Agent, Hilton Diamond, Fairmont Lifetime Platinum
Posts: 2,876
Replying to gardengirl:

>>>>>>>>>>>I hate debt.

Debt is evil!

>>>>>>>>>>>Financial advisors keep saying that sometimes it pays to have debt. We told them about refinancing for a 10 year mortgage earlier this year and they (advisors) said it might be a better plan to go back to a 30 year mortgage so we had less outgo each month then wait until the housing market recovered some more and rethink if we want to sell or not.

In the years I have been doing this (yes I am a CFP and CPA) nobody came to me to say they were so sorry they paid their house mortgage so early. It will NEVER happen! I never prevented any client to pay off more principal on their mortgage assuming all long term funding plans are on target. There is an undeniable increase in quality of life when you can say to the bank "get out of my way, the house is mine"

>>>>>>>>>>>>It's one of the topics of discussion we're having with Chase in an upcoming meeting. Got an email from them saying they can lower the payment. It's a bonus spin off from getting the business account to get the Ink card. I mean we wouldn't even be having this discussion if I hadn't read up on what new cards to get.

High fees on refis & new mortgages. You will be approached to try their way over rated & high fees "wealth management" services. It is wealth all right, their own!

>>>>>>>>>>>>>As for playing the game, I've been a saver since childhood. Some habits begin at a very young age and stick with you.

This is so absolutely true! This is why it kills me to see so many bloggers pushing credit cards to EVERYONE without saying (really) anything about the cautions that should come with such activities. It is a sad state of affairs really. Disciplined, organized, debt averse, detail oriented individuals like me & many others in this hobby have been doing this for many years. But, in a bigger picture, it is a really sad state of affairs overall. Shameful really.
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