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What do you do if you're out of work, but your wife says things like, "If you don't agree to have the basement finished, I'm going to buy a Lexus." Seriously. "But this isn't the time to be taking on debt." "But it's ONLY $15,000." "We can't have a drag on our lowered cash flow." "But we don't have to pay it all up front." "I don't believe in debt." "But everybody else does it."
Since you are not going to find a better rate (0.6%) in a refinance, why not just make larger payments (when you can) to reduce principal and thus the term of the loan? PS, do you realize how lucky you are when your big quandary is to pay off a Med School loan now or later? Or how lucky you are if you need to make the horrible decision of finishing the basement or buying a Lexus?
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