He‘s gotten even smarter, which we didn’t think was possible.

Bob had 22 years left on a $148,000 mortgage at 6¼%. Knowing an opportunity when he saw it, Bob didn’t complain about how low interest rates are and how hard it is for banks to make a profit. Nor did he lament that his house had lost $115,000 from its inflated peak value (which, of course, is just a number on an appraiser’s calculator. Bob’s house gained value, albeit not very much, in one of the most brutal housing markets in America.)

He, and we, noticed how low 15-year mortgages had gotten. Bob refinanced, and next month will begin making payments on his new 15-year, 3¾% mortgage. He’ll save $200/month. But, there’s always a trade-off. In this case, it’s that he’ll now own his house free-and-clear 7 years earlier.

Wait – he pays less monthly, and repays the debt faster? Alright, maybe there is no trade-off.

Poor people, would you even have thought of this? Back away from tonight’s episode of Celebrity Disagreement and learn from the master.