Quote:
Originally Posted by Xist
I would refinance to save half a percent, but would only go back to thirty years if I did not have a choice.
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Closing costs on a mortgage often make it unwise to refinance for anything less than a 1 point reduction (percent in banking jargon).
People often refinance for the purpose of reducing their monthly payment, and not to reduce their overall expenditure on the house. This resets the payback period to 30 years unless they choose a shorter loan term.
The way I calculate if refinancing is worth it is to add up the remaining number of monthly payments on the current mortgage (about 24 years worth on my house) and compare the total cost of a new lower mortgage payment at 30 years plus closing costs. Sure, my monthly payments could be lower, but they would last another 6 years compared to my current loan. I'd have to refinance at a rate somewhere in the 3.x% range before it would actually save me money.
To maximize your hedge against inflation, and for the easiest monthly repayment terms (in case there is difficulty making payments some months), it's usually best to go with a 30 year loan. You can still gain most of the benefit of a 15 or 20 year loan by making extra payments toward the principal.
Quote:
Originally Posted by jamesqf
Dead how? Lots of things that can make a laptop (or desktop FTM) seem not to work are relatively easy to repair.
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I've revived dead laptops (no response to power button) by removing the mainboard and baking in the oven to reflow the solder joints. This is usually a temporary fix as the laptop usually dies again later.
If you want longevity from a laptop, avoid the consumer level models from any brand and instead choose at least an entry business model. For Dell, the cheap consumer product is the Inspiron line, and their entry business is Vostro.
On the other hand, if you want the latest tech and intend to upgrade every 2 years, the consumer level products will usually last that long.
I'm typing on a 5 year old Lenovo x220 (business class). It travels with me everywhere I go, so I needed something tough enough to put up with constant moving and use.