Page 2 of 2 FirstFirst 12
Results 31 to 32 of 32

Thread: It's Mine!

  1. #31


    Quote Originally Posted by cubical View Post
    Exactly, almost no one owns anything.

    just reminding the serfs, they are still serfs.
    and people should be upset about the fact they pour as this wealth into "owning" a home they never really own.
    rewritten history with armies of their crooks - invented memories, did burn all the books... Mark Knopfler

  2. Remove this section of ads by registering.
  3. #32


    Quote Originally Posted by Schifference View Post
    With interest rates at record lows, I would refinance it and by physical with the cash. You can get a 30 year fixed at 3% and the loan is even assumable by an approved buyer. After calculating true inflation the 3% loan is negligible. Just keep your balance at 78% Loan To Value to avoid PMI. If you ever get hard pressed to make a payment just sell some of the physical. The last thing in the world I would do is pay off a 3% home mortgage. Cheap money. Your loan balance will never increase but the value of your dollar is sure to decline. You will pay that loan back with devalued dollars.
    Borrowing to invest in anything is a bad idea. Can you guarantee me at least a four percent a year or more return after taxes on metals for the next 15 or however many years you refinace for? Nope. Do that with money you won't necessarily need - not with your home.

    If I was renting a comparable unit I would be paying about $1200 a month. Since I have purchased it, my costs drop to about $300 for homeowners fees and $150 property taxes or $450 a month- a savings of $750 every month or $9000 a year. I am sure lots of people would not mind having an extra $9000 a year. That is a huge increase in my after-tax income.

    So basically invested in an asset for $110,000 plus interest over 13 years, am now getting $9000 a year in return on it every year into the future (money which would be paid in rent instead) and still own the asset which is still valued at over $150,000 or about 50% higher than what I bought it at (the current selling price of comparable units). I think I did pretty well and don't think there are many other investment opportunities which can offer this.

    Compare those to what I would have gotten for renting instead of buying. $1200 a month is $14,400 a year. Over the time I spent paying off the loan (13 and a half years) , I would have paid out $194,400 anyways and had nothing left.
    Last edited by Zippyjuan; 11-20-2012 at 12:40 PM.
    Quote Originally Posted by NorthCarolinaLiberty View Post

    Half the crap I write here is just to entertain myself.
    I am Zippy and I approve of this post. But you don't have to.

Page 2 of 2 FirstFirst 12

Similar Threads

  1. This is not mine.....
    By sailingaway in forum Rand Paul Forum
    Replies: 2
    Last Post: 03-24-2011, 04:10 PM
  2. Here's Mine.
    By chandlerLBT in forum MTV/MySpace Presidential Dialogue
    Replies: 0
    Last Post: 02-02-2008, 01:44 PM
  3. Got mine in at 12:01 am!!!
    By Jennifer in forum Tea Party
    Replies: 1
    Last Post: 12-15-2007, 11:09 PM
  4. Some RP Art of mine...
    By tbarnett17 in forum Video & Image Projects
    Replies: 0
    Last Post: 12-07-2007, 02:16 AM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts