On Fri, 25 Aug 2006 18:45:59 GMT, "NOYB" wrote:

At it's peak, Zillow had my house priced at $1.56 million (earlier this
year). Now, Zillow says it's worth $1.373 million.

I paid $825k in 3/04. Even in a worst-case scenario, I have three to four
hundred thousand more in equity in my home right now than when I bought it
in March 2004.

If I didn't get an interest-only loan at the time, I couldn't have bought my
house. Today, I could afford to pay $825k with a conventional fixed
mortgage...but the selling price would be $500,000 higher and I wouldn't
have been able to buy it.

I looked at my interest-only loan as a way to lock in 2004's price for 5
years down the road. When my rate adjusts, I simply "re-buy" my house for
$825k...even though it will be worth considerably more than that.


You did good!

I say that even though we're going round and round with a dentist now.
--
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***** Hope your day is great! *****
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John