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cantab.
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October 6, 2009 at 9:30 AM #465265October 6, 2009 at 9:32 AM #464461
Rt.66
ParticipantExcellent explanation patientrenter!
October 6, 2009 at 9:32 AM #464649ParticipantExcellent explanation patientrenter!
October 6, 2009 at 9:32 AM #464995ParticipantExcellent explanation patientrenter!
October 6, 2009 at 9:32 AM #465064ParticipantExcellent explanation patientrenter!
October 6, 2009 at 9:32 AM #465270ParticipantExcellent explanation patientrenter!
October 6, 2009 at 10:18 AM #464508SHILOH
ParticipantThe article doesn’t provide enough info about their complete financial situation — to know whether this is a trend with BOA or other banks toward impossible re-financing. Even the 10K in rental income creates a question about the liability on the other property – not enough info.
October 6, 2009 at 10:18 AM #464696ParticipantThe article doesn’t provide enough info about their complete financial situation — to know whether this is a trend with BOA or other banks toward impossible re-financing. Even the 10K in rental income creates a question about the liability on the other property – not enough info.
October 6, 2009 at 10:18 AM #465042ParticipantThe article doesn’t provide enough info about their complete financial situation — to know whether this is a trend with BOA or other banks toward impossible re-financing. Even the 10K in rental income creates a question about the liability on the other property – not enough info.
October 6, 2009 at 10:18 AM #465113ParticipantThe article doesn’t provide enough info about their complete financial situation — to know whether this is a trend with BOA or other banks toward impossible re-financing. Even the 10K in rental income creates a question about the liability on the other property – not enough info.
October 6, 2009 at 10:18 AM #465317ParticipantThe article doesn’t provide enough info about their complete financial situation — to know whether this is a trend with BOA or other banks toward impossible re-financing. Even the 10K in rental income creates a question about the liability on the other property – not enough info.
October 6, 2009 at 4:28 PM #464856DWCAP
ParticipantSomething is missing from that story. I dont know what it is, but that cant be the whole story. My guess is that there is alot of other debt in there that isnt disclosed. They only disclose the assets side of the balance sheet, what about the debts side? (morgages on those rentals, cc, auto loans…) If they owe alot of money already, it is a risky loan even if they have a house that isnt underwater.
Plus, they can almost pay off the stupid thing with savings. Why do two people in their 60’s want to extend their payments into their 90’s? To save a few bucks on the interest rate reduction? They’ll pay alot more long term than any interest rate reduction will give them. (I am assuming that this ‘savy’ person got a rate back in 2003, or so an isnt carrying something from the 80’s or worse)
October 6, 2009 at 4:28 PM #465043ParticipantSomething is missing from that story. I dont know what it is, but that cant be the whole story. My guess is that there is alot of other debt in there that isnt disclosed. They only disclose the assets side of the balance sheet, what about the debts side? (morgages on those rentals, cc, auto loans…) If they owe alot of money already, it is a risky loan even if they have a house that isnt underwater.
Plus, they can almost pay off the stupid thing with savings. Why do two people in their 60’s want to extend their payments into their 90’s? To save a few bucks on the interest rate reduction? They’ll pay alot more long term than any interest rate reduction will give them. (I am assuming that this ‘savy’ person got a rate back in 2003, or so an isnt carrying something from the 80’s or worse)
October 6, 2009 at 4:28 PM #465389ParticipantSomething is missing from that story. I dont know what it is, but that cant be the whole story. My guess is that there is alot of other debt in there that isnt disclosed. They only disclose the assets side of the balance sheet, what about the debts side? (morgages on those rentals, cc, auto loans…) If they owe alot of money already, it is a risky loan even if they have a house that isnt underwater.
Plus, they can almost pay off the stupid thing with savings. Why do two people in their 60’s want to extend their payments into their 90’s? To save a few bucks on the interest rate reduction? They’ll pay alot more long term than any interest rate reduction will give them. (I am assuming that this ‘savy’ person got a rate back in 2003, or so an isnt carrying something from the 80’s or worse)
October 6, 2009 at 4:28 PM #465461ParticipantSomething is missing from that story. I dont know what it is, but that cant be the whole story. My guess is that there is alot of other debt in there that isnt disclosed. They only disclose the assets side of the balance sheet, what about the debts side? (morgages on those rentals, cc, auto loans…) If they owe alot of money already, it is a risky loan even if they have a house that isnt underwater.
Plus, they can almost pay off the stupid thing with savings. Why do two people in their 60’s want to extend their payments into their 90’s? To save a few bucks on the interest rate reduction? They’ll pay alot more long term than any interest rate reduction will give them. (I am assuming that this ‘savy’ person got a rate back in 2003, or so an isnt carrying something from the 80’s or worse)
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