Caught by surprise- BOA savings account interest rates

That is the issue, I don't like debt. Especially when the asset is worth $10k-$15k USD, and the balance on the loan is $45k USD.

You are correct, a emotional issue--- not a math issue.
Back to, what does your gut say? Or what makes you comfortable/happy/relieved/not stressed?
 
Back to, what does your gut say? Or what makes you comfortable/happy/relieved/not stressed?
My gut says pay an additional $500 USD per month, on top of the $212 monthly payment. Stills keeps the balance "high", in case we sell the home, but emotionally shows some action to get this monkey off the books, even if the debt was at zero percent interest.
 
My gut says pay an additional $500 USD per month, on top of the $212 monthly payment. Stills keeps the balance "high", in case we sell the home, but emotionally shows some action to get this monkey off the books, even if the debt was at zero percent interest.
Then do that. See if you can make the additional $288 over minimum as a principal only payment. Granted at 1.99% it won't net much, but no interest is no interest.
 
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My gut says pay an additional $500 USD per month, on top of the $212 monthly payment. Stills keeps the balance "high", in case we sell the home, but emotionally shows some action to get this monkey off the books, even if the debt was at zero percent interest.

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Then do that. See if you can make the additional $288 over minimum as a principal only payment. Granted at 1.99% it won't net much, but no interest is no interest.
Just caught that you are $500 additional, not a total payment of $500 ($212 min., $288 balance). In that case, definately make the $500 additional principal only. Arrange to pay the $500 15 days out of sync with regular payment so both payments don't get lumped together and pay interest.
 
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