January 9, 2008, 11:22 am
Pay back that loan…later
Experts say that stretching cash to pay back loans can backfire. How did you pay off your loan?
CNNMoney.com Comment Policy: CNNMoney.com encourages you to add a comment to this discussion. You may not post any unlawful, threatening, libelous, defamatory, obscene, pornographic or other material that would violate the law. Please note that CNNMoney.com may edit comments for clarity or to keep out questionable or off-topic material. All comments should be relevant to the post and remain respectful of other authors and commenters. By submitting your comment, you hereby give CNNMoney.com the right, but not the obligation, to post, air, edit, exhibit, telecast, cablecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comment(s) and accompanying personal identifying information via all forms of media now known or hereafter devised, worldwide, in perpetuity. CNNMoney.com Privacy Statement.
-
Detroit's churches are plowing millions into redeveloping local housing and businesses. More -
Winepod attracted a wait list of eager buyers and millions from investors. Then came the recession. More -
As other major banks withdrew, Wells Fargo stepped up its small business lending. More -
Designer Chuck Comeau set up his manufacturing in Plainville -- 240 miles away from a major airport. More -
As staffs shrink, business owners are taking on support duties they haven't had to handle in years. More
I recently paid off my home in a matter of 2 years by just ploughing in all the money I had. The loan had a sweet low rate of 5.15%.
I just cannot explain the peace of mind I have everyday going to bed, while listening to all the subprime sordid tales over the radio!
And I don't know what to do with my cashflow now that I don't have the mortgage.
There are some things that cannot be fathomed by number crunching. This is definitely one of them,