Quote:
Originally Posted by Noah930
So should I go with the two extra mortgage payments per year to shorten that 30-year fixed rate down by almost a third? Or should I have gone with the Wayne plan of interest-only for the next 15 years?  |
No ideal plan exists. You have to consider your financial situation, goals, and needs.
My shotgun answer: pay down extra principal and do not refi. If things get tight or your needs change, you can always discontinue extra principal payments and revert back to comfortable payments. I applaud any effort to pay off debt quickly, but be careful to not over-commit.