NOYB wrote:
wrote in message
oups.com...

Joe wrote:
wrote in message
oups.com...

Yeah, how DID that happen, when you've stated here that you have
an
interest only mortgage? Not only did you NOT pay cash, you're
not
even
paying down the balance.

LOL!

You really do get dumber by the day.

Really? You don't think that NOYB has an interest only mortgage?

That's not why he called you stupid. He called you stupid because
you
failed to realize that you can build equity in a house even when you
don't
pay down the principal...and then turn around and apply that equity
as a
downpayment on your next house.

Where to hell did I EVER say that you couldn't build equity in a house
with an interest only loan?? BUT, the fact remains, if you pay down the
PRINCIPAL, you are still better off, because interest is just what it
is, your cost for borrowing money. The principal is the net worth of
the house.