Comments on: 0% mortgage? http://www.bluntmoney.com/0-mortgage/ Tue, 06 Jan 2009 21:24:42 +0000 http://wordpress.org/?v=2.3.2 By: Adrienne http://www.bluntmoney.com/0-mortgage/#comment-20088 Adrienne Wed, 24 Oct 2007 20:12:54 +0000 http://www.bluntmoney.com/0-mortgage/#comment-20088 What an awesome idea! I play the 0% credit card interest game will all bills except my mortgage. Currently, the 0% card I have happens to have reward where I can get a $50 credit towards the principle of my mortgage for every 2,500 points. Needless to say I charge EVERYTHING on this card. Plus, I make minimum payments to this 0% card each month and stash the difference in an online savings account that pays WAY MORE than any local bank. I enjoy taking advantage of credit cards and I hope to continue the same train of thought with my mortgage once my current "scheme" is up (April) and the 'accumulated debt' is paid off at the original purchase price (I call it the 'scheme the ultimate schemers plan'). :-) I hope to delve deeper into your idea of 0% mortgage idea to see if I can make it work, what the numbers would look like, and perform a risk assessment to see if I am willing to take the chance. I don't want to sound pessimistic but I live in Silicon Valley (gotta love the cost of our bright blue sky) and a HUGE benefit to me right now is the tax write-off since I have only owned for 1 year and 2 months. This will definitely be a fun exercise if nothing else. :-) What an awesome idea! I play the 0% credit card interest game will all bills except my mortgage. Currently, the 0% card I have happens to have reward where I can get a $50 credit towards the principle of my mortgage for every 2,500 points. Needless to say I charge EVERYTHING on this card. Plus, I make minimum payments to this 0% card each month and stash the difference in an online savings account that pays WAY MORE than any local bank. I enjoy taking advantage of credit cards and I hope to continue the same train of thought with my mortgage once my current “scheme” is up (April) and the ‘accumulated debt’ is paid off at the original purchase price (I call it the ’scheme the ultimate schemers plan’). :-)

I hope to delve deeper into your idea of 0% mortgage idea to see if I can make it work, what the numbers would look like, and perform a risk assessment to see if I am willing to take the chance. I don’t want to sound pessimistic but I live in Silicon Valley (gotta love the cost of our bright blue sky) and a HUGE benefit to me right now is the tax write-off since I have only owned for 1 year and 2 months. This will definitely be a fun exercise if nothing else. :-)

]]> By: D http://www.bluntmoney.com/0-mortgage/#comment-20086 D Wed, 24 Oct 2007 19:39:12 +0000 http://www.bluntmoney.com/0-mortgage/#comment-20086 My brother actually paid his home off early with the 0% thing. Of course, he only owed about $36k at the time and was not risking any decent write-off on his return. I don't know if I have the Kahona's to do this though. My mortgage is only just 5.625% so, for now, I'm good. My brother actually paid his home off early with the 0% thing. Of course, he only owed about $36k at the time and was not risking any decent write-off on his return.

I don’t know if I have the Kahona’s to do this though. My mortgage is only just 5.625% so, for now, I’m good.

]]> By: Peggy http://www.bluntmoney.com/0-mortgage/#comment-20071 Peggy Wed, 24 Oct 2007 16:03:06 +0000 http://www.bluntmoney.com/0-mortgage/#comment-20071 You might make an argument that you would be MUCH more motivated to pay off that $10k on the CC every year than you might be to pay extra towards your mortgage each month. Sort of touchy, feely argument for it similar to paying the smallest debts first that lots of people encourage. I am considering doing something similar with student loan debt but looking at the dollars and cents calcs, it doesn't look to be as lucrative as I thought it might be. I'll have to crunch the numbers and also evaluate if I'll have the right discipline to NOT do it. You might make an argument that you would be MUCH more motivated to pay off that $10k on the CC every year than you might be to pay extra towards your mortgage each month. Sort of touchy, feely argument for it similar to paying the smallest debts first that lots of people encourage. I am considering doing something similar with student loan debt but looking at the dollars and cents calcs, it doesn’t look to be as lucrative as I thought it might be. I’ll have to crunch the numbers and also evaluate if I’ll have the right discipline to NOT do it.

]]>