BoatBanter.com - OT (sorta of).... A lesson learned.

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- - OT (sorta of).... A lesson learned. (https://www.boatbanter.com/general/26715-ot-sorta-lesson-learned.html)

On Tue, 11 Jan 2005 13:41:34 -0500, DSK wrote:

Yeah, at least Florida doesn't have earthquakes...

Actually, I'm not sure about that. Many areas are prone to earthquakes,
but I've read that no area is immune. It surprises many to learn that
Charleston, SC. had a bad quake back in the 1800s, and that the most
powerful quake this country has had was centered in Missouri.

thunder wrote:
On Tue, 11 Jan 2005 13:41:34 -0500, DSK wrote:

Yeah, at least Florida doesn't have earthquakes...

Actually, I'm not sure about that. Many areas are prone to
earthquakes,
but I've read that no area is immune. It surprises many to learn
that
Charleston, SC. had a bad quake back in the 1800s, and that the most
powerful quake this country has had was centered in Missouri.

Absolutely! There is a major fault running through Georgia and South
Carolina. And yes, the New Madrid fault has the potential. I've
designed towers for electric plants there. Believe me, there pretty
stiff!

DSK wrote:
NOBBY wrote:
In Florida, your home is your safest investment.

Yeah, at least Florida doesn't have earthquakes...

Oh, not necessarily. There are deep earth faults that go through
Florida. The potential is always there. Slight, but there.

... The tax write-off is a
bonus. I can write off the interest on the home loan, but not
interest on
my school loan. That just doesn't make sense.

You haven't paid off your school loans yet, and you're floating a
mortgage for a $900K home? NOBBY, you're a financial train wreck
waiting
to happen.

Not surprising, really, considering how you come by your opinions &
attitudes, but I hope for the sake of your family that you have good
life insurance.

DSK

Yep, that's our NOYB, risk a nice safe affordable home for his family,
all for the sake of keeping up with the Jones'. The used car salesman
of the medical field.

"basskisser" wrote in message
oups.com...

DSK wrote:
NOBBY wrote:
In Florida, your home is your safest investment.

Yeah, at least Florida doesn't have earthquakes...

Oh, not necessarily. There are deep earth faults that go through
Florida. The potential is always there. Slight, but there.

... The tax write-off is a
bonus. I can write off the interest on the home loan, but not
interest on
my school loan. That just doesn't make sense.

You haven't paid off your school loans yet, and you're floating a
mortgage for a $900K home? NOBBY, you're a financial train wreck
waiting
to happen.

Not surprising, really, considering how you come by your opinions &
attitudes, but I hope for the sake of your family that you have good
life insurance.

DSK

Yep, that's our NOYB, risk a nice safe affordable home for his family,
all for the sake of keeping up with the Jones'.

My neighbor's name isn't Jones. He's German.

"NOYB" wrote in message
ink.net...

"basskisser" wrote in message
oups.com...

DSK wrote:
NOBBY wrote:
In Florida, your home is your safest investment.

Yeah, at least Florida doesn't have earthquakes...

Oh, not necessarily. There are deep earth faults that go through
Florida. The potential is always there. Slight, but there.

... The tax write-off is a
bonus. I can write off the interest on the home loan, but not
interest on
my school loan. That just doesn't make sense.

You haven't paid off your school loans yet, and you're floating a
mortgage for a $900K home? NOBBY, you're a financial train wreck
waiting
to happen.

Not surprising, really, considering how you come by your opinions &
attitudes, but I hope for the sake of your family that you have good
life insurance.

DSK

Yep, that's our NOYB, risk a nice safe affordable home for his family,
all for the sake of keeping up with the Jones'.

My neighbor's name isn't Jones. He's German.

Don't you love it when jealousy rears its head? At a net cost of 3-4%,
as long as you can make the payments, it is the best deal in town.

"NOYB" wrote in message
ink.net...
My school loan will be rolled into my home loan this April. There's been
enough appreciation in the home in just under a year to roll it in and
still
not have to pay PMI.

Very good. Great disability plan too!

If money ever gets tight...those Snowbirds are a gold mine for a veteran
driller to take advantage of. Somebody better warn them.

NOYB wrote:
My school loan will be rolled into my home loan this April.

That sounds like a good step.

... There's been
enough appreciation in the home in just under a year to roll it in and still
not have to pay PMI.

Means nothing. Unless you can easily pay enough above the debt service
to build paid-in equity, plus maintenance, insurance (you know you are
in a hurricane belt), and taxes, then your "appreciation equity" is all
bubble... and bubbles *always* burst.

A whole lot of people in California got a big chunk bitten out of their
hides by this beast. But hey, don't listen to me...

Not surprising, really, considering how you come by your opinions &
attitudes, but I hope for the sake of your family that you have good life
insurance.

Very good. Great disability plan too!

Another good move.

DSK

"Don White" wrote in message
...

"NOYB" wrote in message
ink.net...
My school loan will be rolled into my home loan this April. There's been
enough appreciation in the home in just under a year to roll it in and
still
not have to pay PMI.

Very good. Great disability plan too!

If money ever gets tight...those Snowbirds are a gold mine for a veteran
driller to take advantage of. Somebody better warn them.

Always the optimist.

Have you ever taken a risk Don or do you wear suspenders and a belt?

"DSK" wrote in message
...
NOYB wrote:
My school loan will be rolled into my home loan this April.

That sounds like a good step.

... There's been enough appreciation in the home in just under a year to
roll it in and still not have to pay PMI.

Means nothing. Unless you can easily pay enough above the debt service to
build paid-in equity, plus maintenance, insurance (you know you are in a
hurricane belt), and taxes, then your "appreciation equity" is all
bubble... and bubbles *always* burst.

I am paying interest-only on a 5-year fixed at 4.25%. I really can't
afford an $825k house (with a conventional mortgage) while I am still paying
off my business loan. But if I didn't buy when I did, I'd never be able to
afford it. When my loan is paid off (in just under 5 years), I can easily
afford such a house. I opted to stretch a little now, and lock in today's
price so that when I refinance the mortgage at the end of the 5 years, I
*can* afford the house. Otherwise, by the time my business loan is paid
off, the house will have once again appreciated out of my range of
affordability. I look at like this: I'm effectively renting the house for
5 -years (but with a tax write-off!), and have a purchase option at the end
of 5-years to buy at today's price. It works for me because I know that my
income will drastically increase just as my home mortgage rate is set to
adjust.

A whole lot of people in California got a big chunk bitten out of their
hides by this beast. But hey, don't listen to me...

Those people weren't in the same boat as me. I can afford the interest-only
payments now...and will be able to afford any bump in rates 5 years from now
when my business loan is paid off.

Not surprising, really, considering how you come by your opinions &
attitudes, but I hope for the sake of your family that you have good life
insurance.

Very good. Great disability plan too!

Another good move.

Not all of us redstaters are dumb .;-)

I *hate* the fact that I have to spend as much as I do on insurance...but
it sure makes me sleep better at night.