Mine is a conforming fixed rate @ 2.875% taken out in 2011 (was a refi at the time). Nothing special about it, other than the killer interest rate I landed.
Actually, what is happening to my loan is not recasting. My total monthly payment (P&I) remains constant and the term used to recalculate interest every month remains constant, but the remaining principal used to calculate next month's interest is reduced by any prepaid principal I pay every month. So I both a)pay less total interest and b)payoff the loan early as a result. Recasting reduces monthly payments...so that's not technically what is happening.
You guys have some great mortgages. Either way, with the recast it reduces the payment based on the term but we here seem to always pay up and above the minimum, which is the reasoning to pay off the note as quickly as possible. My 30 yr mortgage I've projected to be only 12. Fun, and saves a ton of money.
This thread is useless. 3 years ago silver was $14.90. Today it is $15.36. A little less than 3% difference. But we have 5,800 posts about it. A 3% difference in 3 years! But the regular posters on this thread follow spot price like a retiree follows the stock market as if it's going to actually impact their life what happens in one day's trading.
I would suggest a new thread, something like Silver & Gold Prices, be created and relegate this disorganized mess to the garbage.
Heresy! This is the Bullion Forum equivalent to "General Discussion" (if it wasn't for the non-stop silver and gold price charts).
Oh just one...………………….. or fifty time I wish silver would break out..... Its would make most people in this forum here wrong with their prediction. Then you would hear a totally different vibe.. but I switched to accumulating the gold nuggets....
Lol, I know that we are considering remaking a thread regarding the topic but I'll throw in my 2 cents. Silver and gold have been more steady than usual. Anyone have a comment on that?
Oh my. Silver is $15.10 today. That's almost the middle of the price 3 years ago ($14.90) and the price I quoted the last time I criticized this thread on March 15 ($15.36)!!! This thread is still pointless because the price of silver has remained basically unchanged over that time frame. Stop the presses!
Big deal, if I want to analyze the price and tell people about it on this thread, then I will. I don't know why you are so against it.
If your buying silver this is good news! If your in the mood to sell all you have to do is sit and wait a while longer. I will say, to those of you who may not understand, many dealers are buying silver bullion ALL the time and the price marked on many items will NOT go down when silver goes down. Nobody sells for a loss just as we don't want to sell for a loss! If you by when its $16.50 your not going to sell it at $15.00. And of course its the same way with gold! You price it when you buy it and many smaller dealers don't have the option to lower that price and keep the profit margin to keep the doors open! Your LCS is not ripping you off, he is trying to earn a living too!