I think Humpty bought more of a house than he should have, using an adjustable rate mortgage after Alan Greenspan lied to him saying interest rates would never again rise.
Also, his sister Mary Jane Rottencrotch told him since real estate always goes higher in price, everyone can be a millionaire if they just buy any house at any price.
:nohead:
Also, his sister Mary Jane Rottencrotch told him since real estate always goes higher in price, everyone can be a millionaire if they just buy any house at any price.
:nohead:
I think people are stupid and use creative mortgages to purchase places they cannot afford... Simple as that... Mortgage broker going to give u whatever mortgage you want as long as they get paid...
Many use I/O mortgage to lower there payment to allow them to but a more expensive place then they could afford on a monthly basis. Interest only mortgages are great as long as you pay more then your base mortgage most of the time. It gives a homeowner flexibility to pay more or less on any give month…
Many use I/O mortgage to lower there payment to allow them to but a more expensive place then they could afford on a monthly basis. Interest only mortgages are great as long as you pay more then your base mortgage most of the time. It gives a homeowner flexibility to pay more or less on any give month…
..
..I think you gotta own your own house; assuming you are not in an area of extreme over-exhuberence..>> there just is too much of a tax break; and personal enjoymant/satisfaction of being a homeowner..>> i have a 15 year note on my house..>> even if the house stays at stagnant value; in 11 years; i own it outright; and i am paying about 30% more than rent..>> and the interest rate deduction probably evens that out to about a clean sweep.. you gotta live somewhere; buy a reasonable dwelling in an area with a reasonable cost-of-living; take out a 10-15 yr mortgage; and live the second half of your life rent-free(which i realize is not really true; roofs; water heaters have to be replace)..>
Wanta feel rich: live in a house below your means>>..you will not be "house-poor"..!!
jmho
gl
:ughhh: :think2: :nono5:
..I think you gotta own your own house; assuming you are not in an area of extreme over-exhuberence..>> there just is too much of a tax break; and personal enjoymant/satisfaction of being a homeowner..>> i have a 15 year note on my house..>> even if the house stays at stagnant value; in 11 years; i own it outright; and i am paying about 30% more than rent..>> and the interest rate deduction probably evens that out to about a clean sweep.. you gotta live somewhere; buy a reasonable dwelling in an area with a reasonable cost-of-living; take out a 10-15 yr mortgage; and live the second half of your life rent-free(which i realize is not really true; roofs; water heaters have to be replace)..>
Wanta feel rich: live in a house below your means>>..you will not be "house-poor"..!!
jmho
gl
:ughhh: :think2: :nono5:
As for personal residence, I suppose it all depends on where you are in life. If you are still a renter and can hold off, maybe wise. BUt if you own, you just ride it out. I bought on '01 so I'm sitting on over 50% gains to date anyway, so not concerned. Buying is almost always preferable to renting IMO.
..Strom thurmond is buried about 35 miles from my current address..!!
yeah; we still love him; used to ride a horse in the Ridge Peach Festival every 3rd weekend in june; until not allowed by his campaign staff..>> had to keep him from riding backwards; but he still kept that smile..!!
lol
gl
:money8:
yeah; we still love him; used to ride a horse in the Ridge Peach Festival every 3rd weekend in june; until not allowed by his campaign staff..>> had to keep him from riding backwards; but he still kept that smile..!!
lol
gl
:money8:
I love the market right now. It is getting rid of all the bullshit lenders and the subprime is slowly going away. In my area, govt loans are starting to make a comeback and the market is turning to a conforming market. Alt-a/stated higher ltv loans are becoming more restrictive. It also separates the men from the boys in the mtg broker world.
..
..Heisman trophy winner 1951..>>princeton university; first winner to have over 1,000 total points in voting; was first in voting in all areas of the country..>>
guess where kazmaier honed his skills in high school..>>
that's right fellers..!!
Maumee high school
The fightin' Panthers..!!
proud alma mater of heisman winner 1951; dick kazmaier..!!!
Well; let me see..>>..??
Start High..>>
Nope; no winners....sorry..!!!
just the facts; ma'am..!!
gl
:thumbsup:
..Heisman trophy winner 1951..>>princeton university; first winner to have over 1,000 total points in voting; was first in voting in all areas of the country..>>
guess where kazmaier honed his skills in high school..>>
that's right fellers..!!
Maumee high school
The fightin' Panthers..!!
proud alma mater of heisman winner 1951; dick kazmaier..!!!
Well; let me see..>>..??
Start High..>>
Nope; no winners....sorry..!!!
just the facts; ma'am..!!
gl
:thumbsup:
