"Richard Casady" wrote in message
...
On Sun, 25 Oct 2009 16:36:28 -0300, "Don White"
wrote:


"nom=de=plume" wrote in message
...
"jps" wrote in message
...
On Sun, 25 Oct 2009 11:42:13 -0600, Vic Smith
wrote:

On Sun, 25 Oct 2009 01:06:52 -0700, jps wrote:



It was the 3, 5 and 7 year adjustable rate mortgages that screwed most
of those mortgage holders. Those were institutionally pushed on
customers (suckers) in the same way tulips bulbs were sold.

Dangerous if you're in over your head, as most were with home price
inflated, and the job market ready to fail.
OTOH I re-fied from a 7% 15-year to a 3% ARM about 7 years ago.
The ARM saw a max of 6.5% and is currently 4%.

--Vic

Your luck will hold for a little while yet. I'm looking at 15 year
now. Rates are extraordinary.


I just re-fi'd from a nice, fixed rate 30 yr to an even better fixed 15
on
all my properties. My main mortgage increased by $150/mo, but it's 15
instead of 30 yrs. Also, I make an extra payment every yr, so that means
it'll pay off sooner.

--
Nom=de=Plume

Almost makes me wish i had a mortgage again.
In my day I had signed up for 11.25% back in the mid '70s.
When I sold that house and moved back into the city I lucked out at around
6%
This house has been paid for almost 10 years now.

I have always paid cash for everything, including houses.

Casady


That's fine if it doesn't drain your liquidity to a dangerous level. There's
nothing wrong with an affordable loan.

--
Nom=de=Plume

In article ,
says...
Almost makes me wish i had a mortgage again.
In my day I had signed up for 11.25% back in the mid '70s.
When I sold that house and moved back into the city I lucked out at around
6%
This house has been paid for almost 10 years now.

I have always paid cash for everything, including houses.

Casady


That's fine if it doesn't drain your liquidity to a dangerous level. There's
nothing wrong with an affordable loan.


For once we agree. How fast can you pull $250,000 out of your house or
$50,000?

"BAR" wrote in message
. ..
In article ,
says...
Almost makes me wish i had a mortgage again.
In my day I had signed up for 11.25% back in the mid '70s.
When I sold that house and moved back into the city I lucked out at
around
6%
This house has been paid for almost 10 years now.

I have always paid cash for everything, including houses.

Casady


That's fine if it doesn't drain your liquidity to a dangerous level.
There's
nothing wrong with an affordable loan.


For once we agree. How fast can you pull $250,000 out of your house or
$50,000?


At the same speed (probably about 2 weeks with the refi backlog).

--
Nom=de=Plume

On Tue, 27 Oct 2009 18:03:16 -0400, BAR wrote:

In article ,
says...
Almost makes me wish i had a mortgage again.
In my day I had signed up for 11.25% back in the mid '70s.
When I sold that house and moved back into the city I lucked out at around
6%
This house has been paid for almost 10 years now.

I have always paid cash for everything, including houses.

Casady


That's fine if it doesn't drain your liquidity to a dangerous level. There's
nothing wrong with an affordable loan.


For once we agree. How fast can you pull $250,000 out of your house or
$50,000?

Probably three or four days.

I would just write a check, if that was all I needed. I should find a
better place to park some of the dough. Maybe have Zimmerman build me
a lobsta. Cruise the Mississippi the length of the Iowa portion.

Casady

On 10/27/09 10:32 PM, Richard Casady wrote:
On Tue, 27 Oct 2009 18:03:16 -0400, wrote:

In ,
says...
Almost makes me wish i had a mortgage again.
In my day I had signed up for 11.25% back in the mid '70s.
When I sold that house and moved back into the city I lucked out at around
6%
This house has been paid for almost 10 years now.

I have always paid cash for everything, including houses.

Casady


That's fine if it doesn't drain your liquidity to a dangerous level. There's
nothing wrong with an affordable loan.


For once we agree. How fast can you pull $250,000 out of your house or
$50,000?

Probably three or four days.

I would just write a check, if that was all I needed. I should find a
better place to park some of the dough. Maybe have Zimmerman build me
a lobsta. Cruise the Mississippi the length of the Iowa portion.

Casady

I'm sure you'd prefer more of a houseboat boat.

Besides, 250 large will not get you a new zimmerman 36' lobster yacht.
You'd need to go to maine or canada, buy a hull and a top from a
reputable molder, and then find yourself a finisher. You might get the
job done for $350,000, but it won't be finished out the way zimmerman
does it.

On Tue, 27 Oct 2009 22:44:31 -0400, H the K
wrote:

On 10/27/09 10:32 PM, Richard Casady wrote:
On Tue, 27 Oct 2009 18:03:16 -0400, wrote:

In ,
says...
Almost makes me wish i had a mortgage again.
In my day I had signed up for 11.25% back in the mid '70s.
When I sold that house and moved back into the city I lucked out at around
6%
This house has been paid for almost 10 years now.

I have always paid cash for everything, including houses.

Casady


That's fine if it doesn't drain your liquidity to a dangerous level. There's
nothing wrong with an affordable loan.


For once we agree. How fast can you pull $250,000 out of your house or
$50,000?

Probably three or four days.

I would just write a check, if that was all I needed. I should find a
better place to park some of the dough. Maybe have Zimmerman build me
a lobsta. Cruise the Mississippi the length of the Iowa portion.

Casady

I'm sure you'd prefer more of a houseboat boat.

Besides, 250 large will not get you a new zimmerman 36' lobster yacht.
You'd need to go to maine or canada, buy a hull and a top from a
reputable molder, and then find yourself a finisher. You might get the
job done for $350,000, but it won't be finished out the way zimmerman
does it.

I said I would write a check, not how big.

Casady

On Oct 27, 10:44*pm, H the K wrote:
On 10/27/09 10:32 PM, Richard Casady wrote:





On Tue, 27 Oct 2009 18:03:16 -0400, *wrote:

In ,
says...
Almost makes me wish i had a mortgage again.
In my day I had signed up for 11.25% back in the mid '70s.
When I sold that house and moved back into the city I lucked out at around
6%
This house has been paid for almost 10 years now.

I have always paid cash for everything, including houses.

Casady

That's fine if it doesn't drain your liquidity to a dangerous level. There's
nothing wrong with an affordable loan.

For once we agree. How fast can you pull $250,000 out of your house or
$50,000?

Probably three or four days.

I would just write a check, if that was all I needed. I should find a
better place to park some of the dough. Maybe have Zimmerman build me
a lobsta. Cruise the Mississippi the length of the Iowa portion.

Casady

I'm sure you'd prefer more of a houseboat boat.

Besides, 250 large will not get you a new zimmerman 36' lobster yacht.
You'd need to go to maine or canada, buy a hull and a top from a
reputable molder, and then find yourself a finisher. You might get the
job done for $350,000, but it won't be finished out the way zimmerman
does it.- Hide quoted text -

- Show quoted text -

Harry, show us a picture of yours!!!