Author Topic: Mortgage stress solution-spend less on it!  (Read 1544 times)

tukk323

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Mortgage stress solution-spend less on it!
« on: December 09, 2015, 11:45:06 AM »
http://www.stuff.co.nz/business/money/74867817/mortgage-stress-faces-many-new-nz-homeowners

Hilarious advice from financial 'advisors' and even the Family budget person.

'Spend less on your mortgage, you'll be less stressed'

Cos paying it off slower is a way to get rid of the stress!!

Left

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Re: Mortgage stress solution-spend less on it!
« Reply #1 on: December 09, 2015, 11:51:19 AM »
From title I thought you would say buy a smaller house

zephyr911

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Re: Mortgage stress solution-spend less on it!
« Reply #2 on: December 09, 2015, 01:17:11 PM »
The writing is mediocre and somewhat muddies the waters, but as far as I can tell this is a simple discussion of DTI and its relationship to financial wellness.

Of course a lower ratio of mortgage payments to income means lower stress... that may or may not reflect wise decisions regarding the purchase price, LTV, or other aspects of the loan.

TheGrimSqueaker

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Re: Mortgage stress solution-spend less on it!
« Reply #3 on: December 09, 2015, 02:19:33 PM »
From title I thought you would say buy a smaller house

Or put down a bigger down payment, or do things that qualify you for a lower rate of interest. (sigh.)