Upon my return from my recent FTI road-trip to New York City, I have gotten back into the regular routine around here at FTI. Plowing through the assorted bills, hate mail, periodicals, and scribbled anonymous threats, I did note a letter/solicitation offer for a chance to refinance the FTI compound at a more favorable rate than we currently pay. The compound was fortunately built and financed a few years back at the height of easy lending and good rates, so, currently it is not "underwater" as a number of other properties are at the present time. Anyway, the terms seemed appealing and I called the representative.
The recent economic upheaval has caused many people (including myself and Mrs Kfred) to look at their spending habits and see if changes can be made that would benefit them in the long run. I have been thinking about moving to a 15 year loan versus the conventional 30 year term for a while and inquired into the terms of such a loan. The difference between what we currently pay and the new loan would only be about 5/8 of a point and with the associated costs and increased monthly commitment, it just didn't seem to pencil out. My post here as Executive Director of FTI pays no actual salary, so, I rely on my auxiliary position in Dilbertland and the income of Mrs. Kfred to keep us afloat. I can pay ahead if I ever get enough cash flow to do so without any prepayment penalty, so, it didn't appear to make economic sense to move forward, but I felt I needed to speak with an expert. Knowing that our resident financial expert/staff cheapskate, Dickie the Peap, may have some insight into all of this, I consulted with him to get his take.
The short-armed one immediately set off on an argument about having "picked up the check the last time" and that it wasn't his turn to buy. Re-directing his attention to the fact that I was not inquiring about purchasing a meal, rather, to discuss some advance financial planning, I came away with the realization of the similarities of how he had amassed his personal fortune and that of the guys on the corner I observed in New York City: Run a game of 3 Card Monty and then deny everything when confronted. It works every time.