I’ve been writing about mortgages and I feel like I have to come clean. I think most of the mortgage tips I’ve been able to find so far are only useful if you aren’t already struggling with big debts. If you are struggling with big debts the tips I’ve been able to find amount to bupkiss.( I know I use bupkiss in my las t post. What can I say I have a love of Yiddish.)

Given the structure of amortization tables, the best you can do is to pay off the loan early so you can reduce the amount of interest you pay. If you can’t do that you are stuck. Hopefully when you move to your next home or refinance you’ll get better terms. Until then try to think about baseball or something until it is over.

Probably the best advice I can give is , realize having a mortgage is expensive and the best ways to save on a mortgage are all done before you actually get one. Things like having a good credit rating , having a good down payment , having few debts , and buying less house than you can afford will all save you money on your mortgage. But how many of us were smart enough to do them before we brought a house? I wasn’t.

Your Brother in Debt

John

This entry was posted on Thursday, December 28th, 2006 at 1:23 pm and is filed under free debt relief. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.