Are you afraid of the economy? Many people are now saying we are entering or are in a recession. Others are saying this recession will be worst than most people can remember. They are saying it will hit hard and hit almost everyone.
So when I start hearing talk like this my first […]

Are you paying attention? The Feds today woke me up with this message:
The Federal Reserve, confronted with a global stock sell-off fanned by increased fears of a recession, cut a key interest rate by three-quarters of a percentage point on Tuesday. The Fed said it was cutting the federal funds rate, the interest […]

I am having a fantastic start to the new year regarding my online earnings. I am definitely making more than January 2007. I have seen YPN (Yahoo Publisher Network), Google Adsense, TLA, and even Chitika take nice jumps forwards. My private ad deals have also began picking up very nicely!
I hope you […]

Do you think there will be an interest rate cut today or will the Fed keep them the same? I am leaning towards a rate cut and the market will bounce quite nicely. I give it a 60% chance of a 1/4% rate cut and a 40 % chance of a 1/2% rate […]

I signed up with Prosper.com back in May but never funded. They asked me to confirm who I was so never did send them my driver’s license. Until today. I am not going to give Prosper.com a chance. I will start with a low amount and finance some people.
I see Prosper […]

Each point paid on a 30-year mortgage normally lowers the interest rate by 0.125 percent. That means a 6.5 percent rate would be lowered to 6.375 percent if you purchase one point on our mortgage.

So figure out how much the point costs you and then find your break even point. Figure out how much you are saving each month by paying for the point and divide the amount paid to find out how many months to break even by purchasing the point on your mortgage.

If it is longer than you plan on staying in the home, it would not be wise to buy points on your mortgage. If you plan on staying longer than the cost of the point then it is often times a good decision to purchase the point.

Also points are tax deductible in the year that you pay them. So this is often times nice as well when looking for tax deductions.

I am purchasing a point and negotiated for a little over a half a point free. This was tough to get, but was worth the persuading of my loan officer.