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A comment on The Sex Scandal That Toppled SoFi’s C.E.O. Parent comment

Re:The Sex Scandal That Toppled SoFi’s C.E.O by cwilkes on Wednesday September 13, 2017 @10:32PM (#15244600)
Post some particulars then. Maybe not of your terms but something like it to see how to reduce the payment and cut the term in half.
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Re:The Sex Scandal That Toppled SoFi’s C.E.O by sidlls on Wednesday September 13, 2017 @11:05PM (#15244709)
That's easy: let the new rate be r' and the original rate be r.

Then choose r'/r < 1/2 by a sufficient amount. For example: let (P; r; t) be ($100,000; 8%; 30 years). The payment is around $740/mo. Now take (P; r; t) equal to ($100,000; 3%; 15 years). The payment is around $700/mo.

You can adjust for the fact that some months of repayment already occurred so the term reduction is to a new term greater than half the remaining periods on the existing loan and the present value (i.e. new principle) is smaller and bump r' up accordingly to achieve the same result.

Either way it's hardly "impossible" and actually quite easy to do if there's a significant difference between the original loan conditions and the refinance/consolidation.

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Re:The Sex Scandal That Toppled SoFi’s C.E.O by MaulingMonkey on Wednesday September 13, 2017 @11:35PM (#15244813)
The power of compound interest! For anyone else wishing to double check sidlls math:

https://www.wolframalpha.com/input/?i=$100000+3%25+15+year+m...

https://www.wolframalpha.com/input/?i=$100000+8%25+30+year+m...

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Re:The Sex Scandal That Toppled SoFi’s C.E.O by ams6110 on Wednesday September 13, 2017 @11:39PM (#15244832)
Sure but who is going to lend you $100,000 at 3% for 15 years, with no asset securing the loan?

Again, the specific numbers of your situation would go a long way to shutting up the skeptics here. Either your initial rate was absurdly high, or you're exaggerating.

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Re:The Sex Scandal That Toppled SoFi’s C.E.O by josephjrobison on Thursday September 14, 2017 @11:22AM (#15248936)
If he's an MD or Engineering Phd from Standford, that's the security that SoFi originally innovated on right?
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