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SW Ohio | I think you misunderstood what I mean by prepayment of principal.
Payment due Dec 31, 2023. Instead of waiting til Dec to pay the principal and interest, you pay the principal portion as cash flow allows. No difference in taxes paid on that amount but interest savings can be significant if done months ahead.
I have a payment due dec31,23. Make that payment. Then Jan 1st of 2024, make the principal portion of the payment due Dec 31, 2024. | |
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