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  Topic: Financial Story Problem
rupert

Replies: 6
Views: 18962

Post image iconForum: Credit & Loans   Posted: Sat Nov 22, 2014 6:50 pm   Subject: Financial Story Problem
A 15 yr fixed would increase her monthly payment to $720 taxes and insurance included, assuming the rate I've been quoted around here, 3.75. Even at 3.25 it'd be around $700. Her goals are to reduce e ...
  Topic: Financial Story Problem
rupert

Replies: 6
Views: 18962

Post image iconForum: Credit & Loans   Posted: Sat Nov 22, 2014 4:05 pm   Subject: Financial Story Problem
Oldguy, thanks for your reply.

So far I've gotten almost universal agreement that the balloon is bad news, and that it was naughty that it was every suggested to her in the first place. She's abou ...
  Topic: Financial Story Problem
rupert

Replies: 6
Views: 18962

Post image iconForum: Credit & Loans   Posted: Sat Nov 22, 2014 2:48 pm   Subject: Financial Story Problem
Story problem:
A 74 year old widow consults you for financial advise. Her annual income is $28,000. She still has a mortgage payment, $640, of which $150 is taxes & insurance. The loan is a 15 yr ...
 
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