ProfessorGAC
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Wed May-10-06 12:02 PM
Response to Reply #31 |
| 43. Beat Us By A Several Months |
|
But, even before payoff, wasn't it a good feeling knowing you owed about a twentieth, or less, of what the house is worth? That's how my wife and i are now. We owe just barely over $10k and the house is easily worth $200k. So, we own $190k of it and the bank only $10k! Nyah! (Actually, i'm on the board of directors of the bank that holds the mortgage, so i can't really stick my tongue out. I can't "dis" the "man". I'm part of "the man".
The Professor
|
| -Insane.....50 year mortgage! |
serryjw |
May-09-06 11:24 PM |
#0 |
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Why is this insane? |
The Jacobin |
May-09-06 11:27 PM |
#1 |
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Depends how you view home ownership |
serryjw |
May-09-06 11:34 PM |
#6 |
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I think most people would say the probability is much lower. |
The Jacobin |
May-09-06 11:41 PM |
#8 |
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You're assuming life does not throw you |
serryjw |
May-10-06 12:18 AM |
#20 |
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Not all financial planners agree |
Paulie |
May-10-06 02:31 PM |
#52 |
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That has to be the WORSE advise I have ever heard |
serryjw |
May-10-06 04:49 PM |
#53 |
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You nailed it - "mortgage burning parties are gone" |
Union Thug |
May-09-06 11:56 PM |
#12 |
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I paid mine off last friday... |
triguy46 |
May-10-06 11:03 AM |
#31 |
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Beat Us By A Several Months |
ProfessorGAC |
May-10-06 12:02 PM |
#43 |
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we're doing ours next monday... |
QuestionAll |
May-10-06 12:06 PM |
#45 |
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Those would be good points |
Warpy |
May-10-06 10:52 AM |
#24 |
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Unless you pay extra every month |
snooper2 |
May-10-06 10:56 AM |
#27 |
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People who need a 50 year mortgage |
Warpy |
May-10-06 11:11 AM |
#34 |
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I have to say I think you are WAY OFF on this.. |
Ioo |
May-10-06 11:37 AM |
#38 |
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Discussion from last week >>>>>>>>>>> |
Roland99 |
May-10-06 11:17 PM |
#61 |
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I remember reading about 90 year mortgages in Japan |
kineta |
May-09-06 11:27 PM |
#2 |
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Never heard of such a thing here... |
Yollam |
May-10-06 12:05 AM |
#16 |
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100 yr leases are not unusual in the US. |
seriousstan |
May-10-06 01:34 AM |
#22 |
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Yes, I've seen those around here. |
missb |
May-10-06 10:57 AM |
#28 |
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Borrow now & die later.......... |
Historic NY |
May-09-06 11:27 PM |
#3 |
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considering on a |
Kiouni |
May-09-06 11:30 PM |
#4 |
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The bubble is definately in trouble. |
The Jacobin |
May-09-06 11:35 PM |
#7 |
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but looking |
Kiouni |
May-09-06 11:44 PM |
#9 |
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I strongly suggest you re-think this |
serryjw |
May-10-06 12:08 AM |
#17 |
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Well, that works in a go-go real estate market |
Warpy |
May-09-06 11:32 PM |
#5 |
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I shudder to think of going into my retirement years with a mortgage |
Lex |
May-09-06 11:46 PM |
#10 |
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We did too. |
The Jacobin |
May-09-06 11:49 PM |
#11 |
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I wanted to refinance |
Warpy |
May-10-06 10:48 AM |
#23 |
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We did the same back in '96 (we bought in '94). |
susanna |
May-10-06 10:57 PM |
#58 |
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I couldn't have said it better myself. |
susanna |
May-10-06 10:56 PM |
#57 |
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Another way for banks to encourage irresponsibility... |
TwoSparkles |
May-09-06 11:56 PM |
#13 |
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I Hate those |
Kiouni |
May-09-06 11:57 PM |
#14 |
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Exactly! |
TwoSparkles |
May-10-06 12:08 AM |
#18 |
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When Jesus comes back, he's gonna look at your lawn |
ComerPerro |
May-10-06 12:12 AM |
#19 |
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Define Excessive |
ProfessorGAC |
May-10-06 12:08 PM |
#46 |
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LOL! As a gardener, I'm with you on that... |
susanna |
May-10-06 11:12 PM |
#60 |
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What gets me... |
susanna |
May-10-06 11:07 PM |
#59 |
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Coming soon: The 10 year car loan |
Yollam |
May-10-06 12:00 AM |
#15 |
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And didn't car loans used to be |
missb |
May-10-06 10:56 AM |
#26 |
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Rarely 3 years anymore... |
jerry611 |
May-10-06 11:34 AM |
#37 |
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It's never a good idea to have a car loan that outlasts the warranty. |
Left Is Write |
May-10-06 12:13 PM |
#49 |
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They're Already Here |
ProfessorGAC |
May-10-06 12:12 PM |
#48 |
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Not so insane |
Wheres The Beef |
May-10-06 12:34 AM |
#21 |
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Sorry, but I'd rather have my home paid off |
MadHound |
May-10-06 11:53 AM |
#41 |
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Don't be sorry |
Wheres The Beef |
May-10-06 12:18 PM |
#51 |
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I see mortgage offers all the time around here. |
missb |
May-10-06 10:55 AM |
#25 |
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Why is is a 40 or 50 year mortgage a problem? |
robcon |
May-10-06 11:01 AM |
#30 |
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I agree. |
TX-RAT |
May-10-06 11:11 AM |
#33 |
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Could you define the insanity. |
robcon |
May-10-06 11:57 AM |
#42 |
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paid off in 8 years (by sale of the house) |
TX-RAT |
May-10-06 12:08 PM |
#47 |
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I'm not sure it's insanity, necessarily, but the person who sells his home |
Left Is Write |
May-10-06 12:16 PM |
#50 |
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Yes, of course. |
robcon |
May-10-06 07:44 PM |
#55 |
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You'll have to ask the people who called it insane. |
Left Is Write |
May-10-06 09:45 PM |
#56 |
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Here's an example of what you would pay with a $100,000 mortgage |
Jacobin |
May-10-06 11:01 AM |
#29 |
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Thanks for the info, Jacobin... |
robcon |
May-10-06 11:03 AM |
#32 |
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Oh ya it's still better than renting |
djohnson |
May-10-06 11:32 AM |
#36 |
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Not everyone can have a home, that's for the most fortunate |
djohnson |
May-10-06 11:15 AM |
#35 |
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Depends on the situation... |
jerry611 |
May-10-06 11:38 AM |
#39 |
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The ARM was UP |
serryjw |
May-10-06 05:01 PM |
#54 |
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I'd get a new financial planner |
Wheres The Beef |
May-10-06 11:57 PM |
#63 |
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No doubt |
serryjw |
May-11-06 12:30 AM |
#64 |
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will any bank give me a 10,000 year mortgage? |
anarch |
May-10-06 11:40 AM |
#40 |
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It makes perfect sense: It's not about "paying off" the mortgage |
HamdenRice |
May-10-06 12:03 PM |
#44 |
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Maybe I am old fashioned, but that is semi-sad. n/t |
susanna |
May-10-06 11:18 PM |
#62 |
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