Jul 5 2019, 10:43 AM
QUOTE(bylkw2 @ Jul 3 2019, 12:58 PM)
u use the money from refinance for investments that are expected to give u greater return than the interest rate charged
layer by layer, leveraging to the max
you need to buy another MRTA to cover the top'ed up ammountlayer by layer, leveraging to the max
The reason MRTA is cheap, is because your houseloan is reducing balance, while ur chance of death is low when you are young.
When you are old, the risk of your death is higher, but your houseloan balance is lower
if you were to re-take another MRTA on your additional refinance loan, the MRTA will be more expensive as you are older.
In short: insurer and bank always wins. you always lose.
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