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Buy a bach and bank on rent
Bookabach said the average per-night rental for Northland baches between December 20 and January 5 this year was $244. That means that if a median-priced Northland holiday home was rented for the average Bookabach rate, a third of that mortgage cost

When Should Retirees Downsize Homes?
As retirees age, there are lifestyle issues to consider, such as being in a community with other older adults. And finally, making a move before one spouse dies can help ensure that the surviving spouse, or the couple's Some of the reluctance stems

Mortgage fraud nets 10-year prison term
Judge Conti said Bonfilio fell prey to "greed to live a lifestyle that wasn't commensurate with the earnings capacity" from the house-flipping business. That led to a succession of outsized loans obtained through fraudulent mortgage documents that

McDonnells grew into the glamour of the job
McDonnells grew into the glamour of the job Those around the former governor say the lifestyle change was out of character. Interviews and public records indicate that the shift was largely driven by his wife, a former Washington Redskins cheerleader who developed an affinity for Fifth Avenue

Mortgage Race! Prepper VS nonprepper, Guess who's winning!

A friend of mine at work is very frugal compared to most Americans. He knows that debt is bad and has taken measures to control it in his life. In ...

Pete the Planner: Should I pay off my mortgage before retirement?

The unknown choice, especially if you choose to invite risk to the party, is to try and grow the $750 per month over the next seven years, and then see what happens. I mean, $750 per month for seven years will leave you with over $75,000, as long as you average a reasonable 5% of return. That’s not chump change. 

I’m sure there’s a technically perfect answer to this question, but I’m not interested in it. You tipped your hand, Gloria. You said it yourself, you don’t need to pay off your mortgage in order to retire successfully. Therefore, don’t be in a hurry to do so. Let the loan run its course.

If you invest your $750 per month for seven years, you will be greeted with $75,000, an affordable mortgage payment for just over two years, and you will receive a gigantic raise when the mortgage is finally paid off. The sudden disappearance of a payment is the same as a raise. And what I know about retirees is they never turn down a nice little raise two to three years into retirement.

What percentage of my monthly NET income should go towards a mortgage? We do not live a fancy lifestyle?

I am married with one child. Moving in a year or two is a definite possibility.

I would definitely not extend yourself past 1/4 of your take home pay which would be about 1/5 of your net income. There simply isn't a reason to extend yourself any further.