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4plexowner
Participant‘expensive money’ is relative – money isn’t expensive when it is invested and the return is greater than the interest rate on the mortgage
[img_assist|nid=11867|title=Gold Bull Market|desc=|link=node|align=left|width=400|height=244]also, this mortgage is less than a third of my property value even in today’s depressed market – with the crazy runup in property values between 1998 and 2006 I wanted to take some of my real estate gains off the table without having a large monthly payment – the 10/20 loan met my needs and I’ll keep it as long as it makes sense – if interest rates go to 20% (remember the ’80’s?), I’ve got a fixed-rate loan for 30 years and now we are talking about CHEAP money!
different needs, different loan products
4plexowner
Participant‘expensive money’ is relative – money isn’t expensive when it is invested and the return is greater than the interest rate on the mortgage
[img_assist|nid=11867|title=Gold Bull Market|desc=|link=node|align=left|width=400|height=244]also, this mortgage is less than a third of my property value even in today’s depressed market – with the crazy runup in property values between 1998 and 2006 I wanted to take some of my real estate gains off the table without having a large monthly payment – the 10/20 loan met my needs and I’ll keep it as long as it makes sense – if interest rates go to 20% (remember the ’80’s?), I’ve got a fixed-rate loan for 30 years and now we are talking about CHEAP money!
different needs, different loan products
4plexowner
Participant‘expensive money’ is relative – money isn’t expensive when it is invested and the return is greater than the interest rate on the mortgage
[img_assist|nid=11867|title=Gold Bull Market|desc=|link=node|align=left|width=400|height=244]also, this mortgage is less than a third of my property value even in today’s depressed market – with the crazy runup in property values between 1998 and 2006 I wanted to take some of my real estate gains off the table without having a large monthly payment – the 10/20 loan met my needs and I’ll keep it as long as it makes sense – if interest rates go to 20% (remember the ’80’s?), I’ve got a fixed-rate loan for 30 years and now we are talking about CHEAP money!
different needs, different loan products
4plexowner
Participant‘expensive money’ is relative – money isn’t expensive when it is invested and the return is greater than the interest rate on the mortgage
[img_assist|nid=11867|title=Gold Bull Market|desc=|link=node|align=left|width=400|height=244]also, this mortgage is less than a third of my property value even in today’s depressed market – with the crazy runup in property values between 1998 and 2006 I wanted to take some of my real estate gains off the table without having a large monthly payment – the 10/20 loan met my needs and I’ll keep it as long as it makes sense – if interest rates go to 20% (remember the ’80’s?), I’ve got a fixed-rate loan for 30 years and now we are talking about CHEAP money!
different needs, different loan products
4plexowner
Participant“why not a 10/20 ARM?”
I have a 10/20 fixed – the first 10 years are interest only – the last 20 are fully amortized – the interest rate is fixed for the entire 30 year period
This loan made sense to me – the first 10 years of a mortgage barely touch the principal anyway so why not pay interest only? – the difference in payments between a 20 and 30 year amortization schedule is minimal (a few hundred bucks per month) – the interest rate is fixed so there won’t be any surprises
don’t know if this loan product is still available today
4plexowner
Participant“why not a 10/20 ARM?”
I have a 10/20 fixed – the first 10 years are interest only – the last 20 are fully amortized – the interest rate is fixed for the entire 30 year period
This loan made sense to me – the first 10 years of a mortgage barely touch the principal anyway so why not pay interest only? – the difference in payments between a 20 and 30 year amortization schedule is minimal (a few hundred bucks per month) – the interest rate is fixed so there won’t be any surprises
don’t know if this loan product is still available today
4plexowner
Participant“why not a 10/20 ARM?”
I have a 10/20 fixed – the first 10 years are interest only – the last 20 are fully amortized – the interest rate is fixed for the entire 30 year period
This loan made sense to me – the first 10 years of a mortgage barely touch the principal anyway so why not pay interest only? – the difference in payments between a 20 and 30 year amortization schedule is minimal (a few hundred bucks per month) – the interest rate is fixed so there won’t be any surprises
don’t know if this loan product is still available today
4plexowner
Participant“why not a 10/20 ARM?”
I have a 10/20 fixed – the first 10 years are interest only – the last 20 are fully amortized – the interest rate is fixed for the entire 30 year period
This loan made sense to me – the first 10 years of a mortgage barely touch the principal anyway so why not pay interest only? – the difference in payments between a 20 and 30 year amortization schedule is minimal (a few hundred bucks per month) – the interest rate is fixed so there won’t be any surprises
don’t know if this loan product is still available today
4plexowner
Participant“why not a 10/20 ARM?”
I have a 10/20 fixed – the first 10 years are interest only – the last 20 are fully amortized – the interest rate is fixed for the entire 30 year period
This loan made sense to me – the first 10 years of a mortgage barely touch the principal anyway so why not pay interest only? – the difference in payments between a 20 and 30 year amortization schedule is minimal (a few hundred bucks per month) – the interest rate is fixed so there won’t be any surprises
don’t know if this loan product is still available today
4plexowner
Participant“There are no secure aerospace jobs. it’s a terrible industry.”
A large part of San Diego’s aerospace industry (General Dynamics Space Systems division) has moved to Denver – if I were serious about working in the aerospace industry I would relocate there – not sure I would call Denver aerospace jobs ‘secure’ but at least they exist
4plexowner
Participant“There are no secure aerospace jobs. it’s a terrible industry.”
A large part of San Diego’s aerospace industry (General Dynamics Space Systems division) has moved to Denver – if I were serious about working in the aerospace industry I would relocate there – not sure I would call Denver aerospace jobs ‘secure’ but at least they exist
4plexowner
Participant“There are no secure aerospace jobs. it’s a terrible industry.”
A large part of San Diego’s aerospace industry (General Dynamics Space Systems division) has moved to Denver – if I were serious about working in the aerospace industry I would relocate there – not sure I would call Denver aerospace jobs ‘secure’ but at least they exist
4plexowner
Participant“There are no secure aerospace jobs. it’s a terrible industry.”
A large part of San Diego’s aerospace industry (General Dynamics Space Systems division) has moved to Denver – if I were serious about working in the aerospace industry I would relocate there – not sure I would call Denver aerospace jobs ‘secure’ but at least they exist
4plexowner
Participant“There are no secure aerospace jobs. it’s a terrible industry.”
A large part of San Diego’s aerospace industry (General Dynamics Space Systems division) has moved to Denver – if I were serious about working in the aerospace industry I would relocate there – not sure I would call Denver aerospace jobs ‘secure’ but at least they exist
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