I have a 7 year ARM @ 5% and the ARM will adjust in the next 3 years and even though I have a cap at +2%( the highest rate that my ARM can re-adjusted to is 7%), I still feel paying down my mortgage debt is prudent considering the economic situation we are in now.
Yep. I have thought about the arbitrage opportunities(invest in stock market, other high yield funds/bonds) but the possibility of higher taxes in future alone will prevent most people(including me) from saving any of their income..
Am counting on the following to accelerate the principal payments!
- Savings from my paycheck...
- Any year-end bonuses...
- Any federal tax refunds...
- Substantial stock options appreciation...
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