Wayne Boatwright > wrote in
5.250:

> On Fri 01 Aug 2008 09:12:23p, sandi told us...
>

>> In case of 'emergency' 30 yr is good AND making additional
>> MONTHLY principle payments (WHEN YOU CAN) and you can pay off
>> the loan is a lot less than 30 years! Paying on the
>> principle in the beginning of the loan saves MUCH interest $.
>
> Thanks, Sandi. That's probably a better option for us, since
> I'm sure we could may additional monthly payments at times,
> but a much larger monthly payment every month would drain us.
> We've already made a few extra monthly principal payments on
> our current mortgage.

Bank and loan institutions don't like to tell you that you can do
this but you can and it saves thousands and Thousands(!!!) of
dollars going to in interest rather than the principle.

Have your loan co. print you out an amortization schedule and
you'll be amazed how little you are paying toward the principle in
the first 1/2 of you loan. They get their $$$$ up front!!
(I still wanna see that property for sale in your area. Is your
camera fixed yet?) :-)