Loan pay off prioritization

[quickgun_murugun]

1 hour ago, pain said:

i would recommend to save for emergency fund (6 months) then pay off mortgage

Concur 

[usauae]

2 hours ago, rokalibanda said:

entha clear chesav baa

married or batchelor

Married with kid bhayya. 
40-50k loans cleared over a long period. Very painful and hate it

[usauae]

1 hour ago, Joker_007 said:

If you are able to survive with same loan payments for next three years it is time to Invest.. if you pay your loans chances are more that you will be wasting money on un needed things, can be anything...  

Check with the Indian bank whether there is a Prepayment penalty or not,  Check how much Interest amount you are going to save when you close the Loan... if it is less than 5 lakhs then it is not worth it to close the loan, instead buy a plot in rural areas , if I was you I will do this

Will Look for rural area which I know better , have good contacts in that area, where the tourism will pick up in next 3-4 years or the area will expands in few years , I will not go for old school methods like near by railway stations, new roads, new airports etc.... 

 

Online amortization calculate chestha 6lac towards interest ani chupistundi bro if I continue with the minimum payment till the end. Max laagesadu mana daggara right now most of the payment is towards principle stage lo vunna

[Shameless]

3 hours ago, usauae said:

Finally cleared all my credit card debts.

right now us lo home mortgage and India lo home mortgage vunnayi. And savings antava inka start avvaledu. Should I start paying off India mortgage first ?(about 30k usd remaining) or us lo home mortgage pay off cheyyadam start cheyyala? (10*India loan) 

or rendu minimum required pay chestu emergency fund meeda focus cheyyala ? 
 

naku ikkada mortgage undhi, and recent ga oka friend ni contact chesa india lo mortgage kosam...actual ga thana wife home loans process chesthundhi...so maa friend emannadu ante...US lo mortgage unte, India lo mortgage dhorakadam kashtam ata...do you know anything about this bro???

[Joker_007]

36 minutes ago, usauae said:

Online amortization calculate chestha 6lac towards interest ani chupistundi bro if I continue with the minimum payment till the end. Max laagesadu mana daggara right now most of the payment is towards principle stage lo vunna

okay.. if the bank do not charge prepayment penalty then pay30-40% of the Principle and keep the loan running ,when ever you go to India close it that time, this way you save the time for paperwork and your interest payment will be further reduced..

Put the remaining 60% of Principle on Investments...

If you have Bank Of America Account schedule an appointment with a Financial Advisor i heard they offer it free for customers who has good credit rating and long time customers...