Should I pay my mortgage principle on its head?
I bought a house seized 2.3 in South Florida on September 08 and paid $ 145,000. The value fell by $ 103,000, which means I now in a reverse mortgage. Since the value of the property as far as I’m more confident for my taxes and I am a refund of $ 3,000. Is it sensible to 3000 on the principle to pay $ ? Because I have negative equity in the place of my thought is that I immediately want to throw her $ 3000, if I place it in principle. I first bought the house for me and my new wife, but plans to move to a larger place if we started a family. Of course, I’m going to stay a while, but I doubt I’m in this house for the duration of the loan are. I know that payment on the principle, the duration of the loan reduced. But I hope I can in no place in the year 2014, I verschieben.Sollte the $ 3000 and repay a portion of the credit card debt (about $ 2000 dollars) and the rest to go on vacation or should I actually put money on principle. Thank you a ton for your replies in advance.