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(former)FormerSanDiegan
Participant[quote=NewtoSanDiego]
There’s too much group think on this site. I think that many people are convinced that renting is always the best solution. Depending on your stage in life and financial circumstances, renting may the best solution. Isn’t it a bit valuable to peer into the soul of a landlord? Some of you may call me slumlord. I want people to really look into the pros and especially cons of renting. There are also negatives of buying that all those who bought in 2005 can attest.
I do think that there a large number of landlords out there who negotiate on bad faith or sport, most don’t.
[quote]
There are plenty of us on this board who have given a landlord’s perspective from time to time without making an ass of ourselves.
ParticipantAny funds you need in less than 2 years should not be invested in the stock market, commoditites or anything other than a guaranteed investment.
You benefitted from a stong market since last Summer. The market is up about 13% over the past year. Hopefully you captured some of that gain. Consider yourself lucky and put it in a money market.
ParticipantAny funds you need in less than 2 years should not be invested in the stock market, commoditites or anything other than a guaranteed investment.
You benefitted from a stong market since last Summer. The market is up about 13% over the past year. Hopefully you captured some of that gain. Consider yourself lucky and put it in a money market.
ParticipantAny funds you need in less than 2 years should not be invested in the stock market, commoditites or anything other than a guaranteed investment.
You benefitted from a stong market since last Summer. The market is up about 13% over the past year. Hopefully you captured some of that gain. Consider yourself lucky and put it in a money market.
ParticipantAny funds you need in less than 2 years should not be invested in the stock market, commoditites or anything other than a guaranteed investment.
You benefitted from a stong market since last Summer. The market is up about 13% over the past year. Hopefully you captured some of that gain. Consider yourself lucky and put it in a money market.
ParticipantAny funds you need in less than 2 years should not be invested in the stock market, commoditites or anything other than a guaranteed investment.
You benefitted from a stong market since last Summer. The market is up about 13% over the past year. Hopefully you captured some of that gain. Consider yourself lucky and put it in a money market.
Participantbearishgirl – I guess I have been using the word “reset” loosely, to mean the rate adjustment (recast), not a reset triggered by negative amortization.
As far as I can tell the only difference between the COFI loan you have and the ARM I used to have is the index used and tha margin. Both had rate adjustments after 60 months and adjust annually.
I purchased my rental in 2002 and I’m actually pretty happy with my current fixed rate. but yes I wish I hadn;t refied multiple times. I’m at about 40% equity today and would be closer to 50% if not for refinancing. Live and learn.
Participantbearishgirl – I guess I have been using the word “reset” loosely, to mean the rate adjustment (recast), not a reset triggered by negative amortization.
As far as I can tell the only difference between the COFI loan you have and the ARM I used to have is the index used and tha margin. Both had rate adjustments after 60 months and adjust annually.
I purchased my rental in 2002 and I’m actually pretty happy with my current fixed rate. but yes I wish I hadn;t refied multiple times. I’m at about 40% equity today and would be closer to 50% if not for refinancing. Live and learn.
Participantbearishgirl – I guess I have been using the word “reset” loosely, to mean the rate adjustment (recast), not a reset triggered by negative amortization.
As far as I can tell the only difference between the COFI loan you have and the ARM I used to have is the index used and tha margin. Both had rate adjustments after 60 months and adjust annually.
I purchased my rental in 2002 and I’m actually pretty happy with my current fixed rate. but yes I wish I hadn;t refied multiple times. I’m at about 40% equity today and would be closer to 50% if not for refinancing. Live and learn.
Participantbearishgirl – I guess I have been using the word “reset” loosely, to mean the rate adjustment (recast), not a reset triggered by negative amortization.
As far as I can tell the only difference between the COFI loan you have and the ARM I used to have is the index used and tha margin. Both had rate adjustments after 60 months and adjust annually.
I purchased my rental in 2002 and I’m actually pretty happy with my current fixed rate. but yes I wish I hadn;t refied multiple times. I’m at about 40% equity today and would be closer to 50% if not for refinancing. Live and learn.
Participantbearishgirl – I guess I have been using the word “reset” loosely, to mean the rate adjustment (recast), not a reset triggered by negative amortization.
As far as I can tell the only difference between the COFI loan you have and the ARM I used to have is the index used and tha margin. Both had rate adjustments after 60 months and adjust annually.
I purchased my rental in 2002 and I’m actually pretty happy with my current fixed rate. but yes I wish I hadn;t refied multiple times. I’m at about 40% equity today and would be closer to 50% if not for refinancing. Live and learn.
Participantbearishgirl – Your loan sounds similar to 5/1 Option ARMs, common the past half decade. Most of those were either based on COFI or LIBOR. A similar loan is the 5/1 Interest-only ARMs, which have all the same features as yours except no negative amortization. 5/1 ARMs and IO ARMS are still advertised (I don;t know anyone who has received one recently, though).
I once had a 5/1 IO ARM on a rental property. I was spooked by high short-term rates in 2006-2007 and refi’d into a 6.25% fixed rate in 2007 (and again in 2009 to less than 5%). If I held my original loan the current rate would be less than 3.5% (12-month LIBOR + 2.25%).
In response to the theory that the next wave of loan resets would lead to massive defaults (I disagree with that theory), I have been tracking resets of loans originated in the 2004-2006 timeframe for 11 months so far here …
Participantbearishgirl – Your loan sounds similar to 5/1 Option ARMs, common the past half decade. Most of those were either based on COFI or LIBOR. A similar loan is the 5/1 Interest-only ARMs, which have all the same features as yours except no negative amortization. 5/1 ARMs and IO ARMS are still advertised (I don;t know anyone who has received one recently, though).
I once had a 5/1 IO ARM on a rental property. I was spooked by high short-term rates in 2006-2007 and refi’d into a 6.25% fixed rate in 2007 (and again in 2009 to less than 5%). If I held my original loan the current rate would be less than 3.5% (12-month LIBOR + 2.25%).
In response to the theory that the next wave of loan resets would lead to massive defaults (I disagree with that theory), I have been tracking resets of loans originated in the 2004-2006 timeframe for 11 months so far here …
Participantbearishgirl – Your loan sounds similar to 5/1 Option ARMs, common the past half decade. Most of those were either based on COFI or LIBOR. A similar loan is the 5/1 Interest-only ARMs, which have all the same features as yours except no negative amortization. 5/1 ARMs and IO ARMS are still advertised (I don;t know anyone who has received one recently, though).
I once had a 5/1 IO ARM on a rental property. I was spooked by high short-term rates in 2006-2007 and refi’d into a 6.25% fixed rate in 2007 (and again in 2009 to less than 5%). If I held my original loan the current rate would be less than 3.5% (12-month LIBOR + 2.25%).
In response to the theory that the next wave of loan resets would lead to massive defaults (I disagree with that theory), I have been tracking resets of loans originated in the 2004-2006 timeframe for 11 months so far here …
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