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sobmaz
Participantif
ParticipantScaredycat
If you are going to have a payment of less than 1500 a month for a house on 3.2 ares and 3200 sq feet, I have a feeling it is far removed from the bubble areas and probably is safe to buy as far as the big picture goes.
If it is not too far, percent wise, from 2002 prices I would buy and finance as much as possible.
The reason to finance the max is these rates are currently some of the lowest in nearly a hundred years and should inflation come to pass (and I think it probably will) inflation will basically devalue what your owe in “real dollars” and you ought to be able to make far more on the invested money you would have put down on the home, more than the 5% you are paying on the mortgage anyhow, should that scenerio play out.
Besides, as in my original post, I don’t know how this will play out but what I do know is that 600K for a dump is out of line and you would be a fool to buy when said dump was 175K in 2000.
Good Luck
ParticipantScaredycat
If you are going to have a payment of less than 1500 a month for a house on 3.2 ares and 3200 sq feet, I have a feeling it is far removed from the bubble areas and probably is safe to buy as far as the big picture goes.
If it is not too far, percent wise, from 2002 prices I would buy and finance as much as possible.
The reason to finance the max is these rates are currently some of the lowest in nearly a hundred years and should inflation come to pass (and I think it probably will) inflation will basically devalue what your owe in “real dollars” and you ought to be able to make far more on the invested money you would have put down on the home, more than the 5% you are paying on the mortgage anyhow, should that scenerio play out.
Besides, as in my original post, I don’t know how this will play out but what I do know is that 600K for a dump is out of line and you would be a fool to buy when said dump was 175K in 2000.
Good Luck
ParticipantScaredycat
If you are going to have a payment of less than 1500 a month for a house on 3.2 ares and 3200 sq feet, I have a feeling it is far removed from the bubble areas and probably is safe to buy as far as the big picture goes.
If it is not too far, percent wise, from 2002 prices I would buy and finance as much as possible.
The reason to finance the max is these rates are currently some of the lowest in nearly a hundred years and should inflation come to pass (and I think it probably will) inflation will basically devalue what your owe in “real dollars” and you ought to be able to make far more on the invested money you would have put down on the home, more than the 5% you are paying on the mortgage anyhow, should that scenerio play out.
Besides, as in my original post, I don’t know how this will play out but what I do know is that 600K for a dump is out of line and you would be a fool to buy when said dump was 175K in 2000.
Good Luck
ParticipantScaredycat
If you are going to have a payment of less than 1500 a month for a house on 3.2 ares and 3200 sq feet, I have a feeling it is far removed from the bubble areas and probably is safe to buy as far as the big picture goes.
If it is not too far, percent wise, from 2002 prices I would buy and finance as much as possible.
The reason to finance the max is these rates are currently some of the lowest in nearly a hundred years and should inflation come to pass (and I think it probably will) inflation will basically devalue what your owe in “real dollars” and you ought to be able to make far more on the invested money you would have put down on the home, more than the 5% you are paying on the mortgage anyhow, should that scenerio play out.
Besides, as in my original post, I don’t know how this will play out but what I do know is that 600K for a dump is out of line and you would be a fool to buy when said dump was 175K in 2000.
Good Luck
ParticipantScaredycat
If you are going to have a payment of less than 1500 a month for a house on 3.2 ares and 3200 sq feet, I have a feeling it is far removed from the bubble areas and probably is safe to buy as far as the big picture goes.
If it is not too far, percent wise, from 2002 prices I would buy and finance as much as possible.
The reason to finance the max is these rates are currently some of the lowest in nearly a hundred years and should inflation come to pass (and I think it probably will) inflation will basically devalue what your owe in “real dollars” and you ought to be able to make far more on the invested money you would have put down on the home, more than the 5% you are paying on the mortgage anyhow, should that scenerio play out.
Besides, as in my original post, I don’t know how this will play out but what I do know is that 600K for a dump is out of line and you would be a fool to buy when said dump was 175K in 2000.
Good Luck
ParticipantThe old mortgage ought to have guidelines for early payoff. Does it mention how pay off amount is attained?
If I were you I would scream and holler and threaten to go to another lender.
I do know that you can call to check your mortgage balance and last payment and such. Usually there is an option to get the “payoff” amount that is valid for a few days.
I think if you threaten to walk they will give in but will then charge extra for something else to make up for it.
Sorry to say it but in the end we are all screwed.
ParticipantThe old mortgage ought to have guidelines for early payoff. Does it mention how pay off amount is attained?
If I were you I would scream and holler and threaten to go to another lender.
I do know that you can call to check your mortgage balance and last payment and such. Usually there is an option to get the “payoff” amount that is valid for a few days.
I think if you threaten to walk they will give in but will then charge extra for something else to make up for it.
Sorry to say it but in the end we are all screwed.
ParticipantThe old mortgage ought to have guidelines for early payoff. Does it mention how pay off amount is attained?
If I were you I would scream and holler and threaten to go to another lender.
I do know that you can call to check your mortgage balance and last payment and such. Usually there is an option to get the “payoff” amount that is valid for a few days.
I think if you threaten to walk they will give in but will then charge extra for something else to make up for it.
Sorry to say it but in the end we are all screwed.
ParticipantThe old mortgage ought to have guidelines for early payoff. Does it mention how pay off amount is attained?
If I were you I would scream and holler and threaten to go to another lender.
I do know that you can call to check your mortgage balance and last payment and such. Usually there is an option to get the “payoff” amount that is valid for a few days.
I think if you threaten to walk they will give in but will then charge extra for something else to make up for it.
Sorry to say it but in the end we are all screwed.
ParticipantThe old mortgage ought to have guidelines for early payoff. Does it mention how pay off amount is attained?
If I were you I would scream and holler and threaten to go to another lender.
I do know that you can call to check your mortgage balance and last payment and such. Usually there is an option to get the “payoff” amount that is valid for a few days.
I think if you threaten to walk they will give in but will then charge extra for something else to make up for it.
Sorry to say it but in the end we are all screwed.
ParticipantOh for Pete’s sake!!!
This is a sad story but Government aid? That is life, that is Capitalism!
They need to live in that house as long as possible rent free and then move into a rental and start over.
We are not talking homelessness, we are talking renting versus buying.
I am a renter because banks and the federal government are spending my tax money keeping this bubble inflated. As sad as this story is why do these people deserve any sort of aid to keep them in a house they can’t afford while I as a renter get nothing but the bill?
ParticipantOh for Pete’s sake!!!
This is a sad story but Government aid? That is life, that is Capitalism!
They need to live in that house as long as possible rent free and then move into a rental and start over.
We are not talking homelessness, we are talking renting versus buying.
I am a renter because banks and the federal government are spending my tax money keeping this bubble inflated. As sad as this story is why do these people deserve any sort of aid to keep them in a house they can’t afford while I as a renter get nothing but the bill?
ParticipantOh for Pete’s sake!!!
This is a sad story but Government aid? That is life, that is Capitalism!
They need to live in that house as long as possible rent free and then move into a rental and start over.
We are not talking homelessness, we are talking renting versus buying.
I am a renter because banks and the federal government are spending my tax money keeping this bubble inflated. As sad as this story is why do these people deserve any sort of aid to keep them in a house they can’t afford while I as a renter get nothing but the bill?
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