ISP Information:
This is the most scalable application architecture (over two-tier and three-tier). This architecture refers to 4-, 5-, or even higher-tiered architectures. It is the most complex type of architecture, splitting the application and database management tasks into many discrete components. For example, take the three-tier architecture and change it so that the application logic is separate from the database management syste
ISP Glossary:
Multi-tiered architecture - cindytax@onebox.com (Cindy, CA) wrote in message news:<95525a0a.0312260857.3f2cd47d@posting.google.com>... Hmmm... What if the extra payment is at the BEGINNING of the year? Even if "raiding" the 1.5% savings account is required, it works out just fine. The advice is "stupid" only if taken or misinterpreted by "stupid" people. BTW, what is the yearly and life-of-loan savings on that $100K loan by making the extra payment at the beginning of the year instead of the end? How 'bout the difference between monthly and year-end payments? Payments will still be the same on a fixed loan. Making one extra payment a year (either by doing it all at once or by adding 1/12 every month) will cut a 30 year loan down to a 17 year 3 month loan if you start doing it that way from the first of the 360 payments. CindyWell, I suppose if I could afford that much more per month, I'd havejust bought a bigger house or taken out a 20 year loan. I guess I cansee the sense in this strategy if:1) You've been in the house awhile;2) You plan to stay in the house upon retirement;2) Paying extra will enable you to retire earlier, or will pay off theloan around the time of your retirement;3) You've already maxed out your 401 K;4) You don't have other competing investment goals, such as collegeeducation;5) Your interest rate is high and refinancing doesn't make sense.But typically I think the general advice, when you're young, is tosign on for as much house as you can afford (stretch a little) withthe assumption that your salary will increase over time, making themortgage even more affordable. At that point, if your salary hasincreased while your mortgage has stayed the same, then you mightconsider extra payments, especially if you have a high interest rate.But, I can't see starting out paying extra from the very firstpayment.jen
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