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Rep Retirement Lodge 198 - A New Season Begins...

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  • #91
    Originally posted by Brenthoven View Post
    Morning, Lodge. It's snowing out. I am not ready for this sh*.
    We had a couple inches this morning. Melted now, but oof.
    AF 99

    M-A-V-E-R-I-C-K-S, MAVERICKS, MAVERICKS, GOOOOO STATE!

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    • #92
      Re: Rep Retirement Lodge 198 - A New Season Begins...

      Originally posted by MavHockey14 View Post
      We had a couple inches this morning. Melted now, but oof.
      Ended up being a thick dusting, and it melted within an hour or so.
      Never really developed a taste for tequila. Kind of hard to understand how you make a drink out of something that sharp, inhospitable. Now, bourbon is easy to understand.
      Tastes like a warm summer day. -Raylan Givens

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      • #93
        Re: Rep Retirement Lodge 198 - A New Season Begins...

        Before I start a separate thread to ask this question, I'm going to put this out here to get some advice. I got a letter from the bank that holds my mortgage. For the past year or so, I've been paying down my principal. The letter said that because I've been doing that, I've cut 27 months off the time length left on it. Which is cool. So, I can keep on doing what I'm doing and pay to off a couple years early, OR - they can decrease my monthly payment by close to about $300/month and my last payment will be what it was scheduled to be when I refinanced.

        Both options are interesting. Just trying to get some feedback from a variety of people to see if there are reasons pro and con that I can't see right now. Like, tax reasons or something. What do you guys think?

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        • #94
          Re: Rep Retirement Lodge 198 - A New Season Begins...

          Originally posted by Scarlet View Post
          Before I start a separate thread to ask this question, I'm going to put this out here to get some advice. I got a letter from the bank that holds my mortgage. For the past year or so, I've been paying down my principal. The letter said that because I've been doing that, I've cut 27 months off the time length left on it. Which is cool. So, I can keep on doing what I'm doing and pay to off a couple years early, OR - they can decrease my monthly payment by close to about $300/month and my last payment will be what it was scheduled to be when I refinanced.

          Both options are interesting. Just trying to get some feedback from a variety of people to see if there are reasons pro and con that I can't see right now. Like, tax reasons or something. What do you guys think?
          I did this too. We just kept paying it down until I left Practice then we went back to paying what we had to only. When we met the financial planner guy he said there was really no benefit for us to change over. We could pay down the principal without changing anything. To redo the loan we would have had to pay a bunch of fees, there would be no improvement in interest and we would end up paying interest for a longer period. Theoretically if we had kept paying the thing at the same rate we could have paid it down faster but the cost made the return less attractive. If I remember correctly we were far enough into the loan that it wouldn't help us but it might have been different if we had explored it earlier.

          Curious to see what others say. It seemed counter intuitive to not do it but when we worked the #s it didn't look as good as I thought it should

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          • #95
            Re: Rep Retirement Lodge 198 - A New Season Begins...

            It's not re-financing, though. No change in the interest rate. All they're offering is keep it as is and end it early, or keep the same end date and lower my monthly principal payment. If I do the latter and I continue to pay more towards the principal, I could end it early AND pay less per month. I would wind up paying additional interest over the course of the loan if I did the latter.

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            • #96
              Re: Rep Retirement Lodge 198 - A New Season Begins...

              Good Evening, Lodge!

              Above average Sunday. Drove out to Hoven's Corner Store to check out the place and then back to my office to visit the usual idiots.
              Originally posted by Skeeterman
              Lady Wore Black is a hottie.
              "I love hockey, it is such a great sport. I love how the outfielders use their baseball bats to hit the ball across the ice field, pass the punter for nothing but net shot from downtown." - Unknown

              "No matter what happens in college hockey tournament, the Yankees will not win the World Series this year." - Mr. wore Black

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              • #97
                Re: Rep Retirement Lodge 198 - A New Season Begins...

                Good evening! My daughter and I spent the day making gumbo then had my wife's sisters and husbands over for dinner. Was dang good!

                Minnesota's Pride On Ice: 1974, 1976, 1979, 2002 & 2003 NCAA National Champions


                And the preacher said, you know you always have the Lord by your side
                And I was so pleased to be informed of this that I ran
                Twenty red lights in his honor
                Thank you Jesus, thank you Lord

                ~Mick Jagger/Keith Richards

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                • #98
                  Re: Rep Retirement Lodge 198 - A New Season Begins...

                  Originally posted by Lady wore Black View Post
                  Good Evening, Lodge!

                  Above average Sunday. Drove out to Hoven's Corner Store to check out the place and then back to my office to visit the usual idiots.
                  That was fun, even with the B squad working. I should have figured they were working, since all staff was working last night for the block party they had. Which, btw, next time they have a block party, you should head on up. It's always a fun time.
                  Never really developed a taste for tequila. Kind of hard to understand how you make a drink out of something that sharp, inhospitable. Now, bourbon is easy to understand.
                  Tastes like a warm summer day. -Raylan Givens

                  Comment


                  • #99
                    Originally posted by Scarlet View Post
                    It's not re-financing, though. No change in the interest rate. All they're offering is keep it as is and end it early, or keep the same end date and lower my monthly principal payment. If I do the latter and I continue to pay more towards the principal, I could end it early AND pay less per month. I would wind up paying additional interest over the course of the loan if I did the latter.
                    You just found your answer. Keep doing what you’re doing. The only thing they’re offering you is the opportunity to pay them more interest.
                    FERRIS STATE UNIVERSITY: 2012 FROZEN FOUR


                    God, that was fun...

                    Comment


                    • Originally posted by Hammer View Post
                      You just found your answer. Keep doing what you’re doing. The only thing they’re offering you is the opportunity to pay them more interest.
                      Correct — unless you feel your monthly payment is more comfortable for you with the lower payment, keep it as is — I always ask my clients, if you need new tires on the car, your water heater breaks, and you have an unexpected medical bill all in the same month, is this minimum payment still comfortable for you? If that’s the case with your current mortgage, I’d keep it as is. If you feel the new (lower) payment would be more reasonable for your minimum payment, then it becomes more advantageous to lower it.

                      Flip side of this as well is how do you look at debt? Do you want none of it ever and want things paid as fast as humanly possible?

                      Or can you use the money you’re borrowing to make more money?

                      For example, if you put an extra $1,000 towards the principle, when the interest on it is 4%, can you make 5% on it anywhere? If so, why pay extra? Now of course, there’s risk involved putting your money into a market, etc. but long term you’re generally going to see returns higher than what rates have been on mortgages (until the last few months maybe).
                      AF 99

                      M-A-V-E-R-I-C-K-S, MAVERICKS, MAVERICKS, GOOOOO STATE!

                      Comment


                      • Re: Rep Retirement Lodge 198 - A New Season Begins...

                        Good morning to tLodge!
                        Quinnipiac Bobcats
                        2023 National Champions
                        ECAC Regular Season Champions: 2012-13, 2014-15, 2015-16, 2018-19, 2020-21, 2021-22, 2022-23, 2023-24
                        ECAC Tournament Champions: 2016
                        East Regional: 2013 (Champions), 2014, 2016 (Champions), 2023 (Champions)
                        Northeast Regional:

                        West Regional: 2015, 2021
                        Midwest Regional: 2019, 2022
                        Frozen Four: 2013, 2016, 2023 (Champions)

                        Pass complete. Lipkin has a man in front! Shot... SCORE!!!

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                        • Re: Rep Retirement Lodge 198 - A New Season Begins...

                          Good Morning, MEUSA!


                          Good Morning to the rest of Lodge!
                          sigpic

                          Let's Go 'Tute!

                          Maxed out at 2,147,483,647 at 10:00 AM EDT 9/17/07.

                          2012 Poser Of The Year

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                          • Re: Rep Retirement Lodge 198 - A New Season Begins...

                            Originally posted by Ralph Baer View Post
                            I received $5M from Helen Paul. The total is now $867,483,816.22.
                            I received $2.5M from MR. FRANK OTUTUNZU. The total is now $869,983,816.22.
                            Last edited by Ralph Baer; 10-15-2018, 07:08 AM.
                            sigpic

                            Let's Go 'Tute!

                            Maxed out at 2,147,483,647 at 10:00 AM EDT 9/17/07.

                            2012 Poser Of The Year

                            Comment


                            • Re: Rep Retirement Lodge 198 - A New Season Begins...

                              Originally posted by Ralph Baer View Post
                              I received $2.5M from MR. FRANK OTUTUNZU. The total is now $869,983,816.22.
                              I received an unknown amount from Mr. kevin byner. Using the average to date, the total is now $878,114,506.10.
                              sigpic

                              Let's Go 'Tute!

                              Maxed out at 2,147,483,647 at 10:00 AM EDT 9/17/07.

                              2012 Poser Of The Year

                              Comment


                              • Re: Rep Retirement Lodge 198 - A New Season Begins...

                                I was paying extra on the principle to finish paying it off sooner. Which apparently is working, since I'm currently finishing up 27 months ahead of schedule. So, yeah, I guess I will continue doing what I'm doing. My ultimate goal is to pay off as much as possible in case I happen to sell it. I want to clear as much as I can and not have to pay off so much from a sale.

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