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(former)FormerSanDiegan
ParticipantStep back, and forget about all path that got you here. Forget about all the promises and tax credits.
Is it a good deal at 300K ?
If not, back out and move on.
Either way, make sure you have representation (lawyer or agent) so that you are not getting scammed.
Participant[quote=jpinpb]
Why not just rent from the banks in perpetuity and be done w/it.Home ownership. HA![/quote]
Yep. it’s essentially that in the loans you linked.
Participant[quote=jpinpb]
Why not just rent from the banks in perpetuity and be done w/it.Home ownership. HA![/quote]
Yep. it’s essentially that in the loans you linked.
Participant[quote=jpinpb]
Why not just rent from the banks in perpetuity and be done w/it.Home ownership. HA![/quote]
Yep. it’s essentially that in the loans you linked.
Participant[quote=jpinpb]
Why not just rent from the banks in perpetuity and be done w/it.Home ownership. HA![/quote]
Yep. it’s essentially that in the loans you linked.
Participant[quote=jpinpb]
Why not just rent from the banks in perpetuity and be done w/it.Home ownership. HA![/quote]
Yep. it’s essentially that in the loans you linked.
Participant[quote=patb]
so then pay it off[/quote]
The point is it’s a cheap source of capital.
One could use their money to generate a better rate of return than the rate on the note, which is likely in the 5% range (e.g. use to grow their business, exercise and sell their in-the-money stock options, buy REOs for cash, etc).
If the rate jumps in the future, then it might make sense to reduce or eliminate the debt, versus these other purposes.
The cost of capital is in the 5-6% range for corporations. For small companies/sole proprietors, I doubt one could access this much capital at anywhere near these rates.
Participant[quote=patb]
so then pay it off[/quote]
The point is it’s a cheap source of capital.
One could use their money to generate a better rate of return than the rate on the note, which is likely in the 5% range (e.g. use to grow their business, exercise and sell their in-the-money stock options, buy REOs for cash, etc).
If the rate jumps in the future, then it might make sense to reduce or eliminate the debt, versus these other purposes.
The cost of capital is in the 5-6% range for corporations. For small companies/sole proprietors, I doubt one could access this much capital at anywhere near these rates.
Participant[quote=patb]
so then pay it off[/quote]
The point is it’s a cheap source of capital.
One could use their money to generate a better rate of return than the rate on the note, which is likely in the 5% range (e.g. use to grow their business, exercise and sell their in-the-money stock options, buy REOs for cash, etc).
If the rate jumps in the future, then it might make sense to reduce or eliminate the debt, versus these other purposes.
The cost of capital is in the 5-6% range for corporations. For small companies/sole proprietors, I doubt one could access this much capital at anywhere near these rates.
Participant[quote=patb]
so then pay it off[/quote]
The point is it’s a cheap source of capital.
One could use their money to generate a better rate of return than the rate on the note, which is likely in the 5% range (e.g. use to grow their business, exercise and sell their in-the-money stock options, buy REOs for cash, etc).
If the rate jumps in the future, then it might make sense to reduce or eliminate the debt, versus these other purposes.
The cost of capital is in the 5-6% range for corporations. For small companies/sole proprietors, I doubt one could access this much capital at anywhere near these rates.
Participant[quote=patb]
so then pay it off[/quote]
The point is it’s a cheap source of capital.
One could use their money to generate a better rate of return than the rate on the note, which is likely in the 5% range (e.g. use to grow their business, exercise and sell their in-the-money stock options, buy REOs for cash, etc).
If the rate jumps in the future, then it might make sense to reduce or eliminate the debt, versus these other purposes.
The cost of capital is in the 5-6% range for corporations. For small companies/sole proprietors, I doubt one could access this much capital at anywhere near these rates.
Participant[quote=jpinpb]Hold the phone, everyone. These are even uglier loans:
Remember those horrific option ARMs? Well they are now morphing into other products
Shocked yet? Well how about a 40 year IndyMac loan modification.
An example, Modified Unpaid Principal Balance 472,136. Maturity Date 6/1/46.I guess we’ll be kicking the can until it’s time for the newborns of today to be old enough buy.[/quote]
Looked at the link … Now those are some stinker loans !! Why not just have an indefinite-term interest-only loan ?
Participant[quote=jpinpb]Hold the phone, everyone. These are even uglier loans:
Remember those horrific option ARMs? Well they are now morphing into other products
Shocked yet? Well how about a 40 year IndyMac loan modification.
An example, Modified Unpaid Principal Balance 472,136. Maturity Date 6/1/46.I guess we’ll be kicking the can until it’s time for the newborns of today to be old enough buy.[/quote]
Looked at the link … Now those are some stinker loans !! Why not just have an indefinite-term interest-only loan ?
Participant[quote=jpinpb]Hold the phone, everyone. These are even uglier loans:
Remember those horrific option ARMs? Well they are now morphing into other products
Shocked yet? Well how about a 40 year IndyMac loan modification.
An example, Modified Unpaid Principal Balance 472,136. Maturity Date 6/1/46.I guess we’ll be kicking the can until it’s time for the newborns of today to be old enough buy.[/quote]
Looked at the link … Now those are some stinker loans !! Why not just have an indefinite-term interest-only loan ?
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