On Thu, 6 Apr 2017 14:23:58 -0700 (PDT), DerbyDad03
wrote:

On Thursday, April 6, 2017 at 4:42:11 PM UTC-4, Leon wrote:
On 4/6/2017 2:12 PM, wrote:

Lots of rich folks (and businesses) have mortgages that they could pay off
this afternoon if they wanted to.

Oh, hell, I could have done that some time back but why bother?


To keep from having to make a money transfer or write another check.
Even automatic transfers can screw up. And if you are paying interest
at all it is costing you money to keep the mortgage.

Our builder knocked an additional $5K off the price of our house for
paying cash plus no extra expense for mortgage insurance, or mandatory
flood insurance.

OK...I misunderstood your response. When I said that some people could
pay off their mortgage any time they wanted, you said "Oh, hell, I could
have done that some time back". I thought you were saying that you could
have paid off your mortgage early but didn't want to bother.

I said that. You're up Leon and me up. By "some time", I don't mean
30 years back, I mean a year or two. At that point it doesn't matter.
The payment is almost all principal by that time.

Now I understand that you never had a mortgage in the first place. Different
situation.

We've bought the house five years ago and had a small mortgage then.