Yea, I had a fixed 12.5% mortgage. The 82 year old man that had lived in the house just financed it himself. We shook hands, and then I bought his lawn mower and some furniture he did not want to move.
I fired up my Commodore 64 and rand an amortization table. I almost fainted when I realized my first payment was like 8 bucks of principal and the rest interest. I re-ran it for a 20 year note and it only added a few bucks to the monthly payment, and took 10 years off the note. I started adding extra money when I could.
We rolled the sale of that house and my wife's house and bought this house. We are done moving. Next move is to the funeral home or the nursing home. I prefer straight to the funeral home in 40 or 50 years.
