Inoffensive_Account on October 8th, 2023 at 14:48 UTC »
My mother is 92 and when she talks about her mortgage from the 1960’s, she says, “Boy, that was a long 16 years to pay off the mortgage”.
DankVectorz on October 8th, 2023 at 14:53 UTC »
Median income in 1952 was $2300/yr or $191/mo before taxes
TJATAW on October 8th, 2023 at 16:22 UTC »
16 more payments to go, 6% interest rate.
Adjusted for inflation, that is $520.79/month now. Of course, the insurance & property taxes aren't added on.
The balance remaining after paying it would be $7,984.17 today.
Inoffensive_Account on October 8th, 2023 at 14:48 UTC »
My mother is 92 and when she talks about her mortgage from the 1960’s, she says, “Boy, that was a long 16 years to pay off the mortgage”.
DankVectorz on October 8th, 2023 at 14:53 UTC »
Median income in 1952 was $2300/yr or $191/mo before taxes
TJATAW on October 8th, 2023 at 16:22 UTC »
16 more payments to go, 6% interest rate.
Adjusted for inflation, that is $520.79/month now. Of course, the insurance & property taxes aren't added on.
The balance remaining after paying it would be $7,984.17 today.