The Feldman Plan: Just Get Yourself a Latte

`` Well, wait, you say. This proposal isn't aimed at those high-rate subprime borrowers who get so easily confused about the difference between the monthly payment and the total interest paid, because they're probably upside down anyway. This proposal is for us responsible types. Let's say we started with the $200,000 30-year at 6.00%, with a P&I of $1,199.10. Two years later we strip that into a $155,949.18 28-year loan at 6.00% ($959.28) and a $38,987.29 15-year loan at 1.6% ($243.77) giving us a new payment of $1,203.05! Cool! Economic stimulus! That $3.95 a month that would have been blown at Starbucks going to debt reduction! Just what we need in a recession!''