"P.Fritz" wrote in message
...

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

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

P.Fritz wrote:
"NOYB" wrote in message
news
"DSK" wrote in message
news NOYB wrote:
I am paying interest-only on a 5-year fixed at 4.25%.

Pardon me for being blunt, but that's friggin' dumb. That's as
stupid as
punting on 3rd and short. Do you *want* the economy to take a big
chunk
out of your future?

Why is it dumb? I explained in detail why it works well for me.
Why pay
interest on an asset that's appreciating at 10-20% per year?

Some people just don't get that owing money is not necessarrily a bad
thing.


It IS a bad thing, when you are talked into an interest only ARM....

I presented the interest-only ARM idea to the lender. Until 2009, I
can't afford to pay interest *and principle* on such an expensive house.
However, if I waited until I *could* afford to pay principal and interest
on my house (5 years from now), then my house would be selling for even
more money...and it would once again be out of my price range.

Like I said...
I'm effectively renting this house with an option at the end of 5 years
to buy it at today's price. The best part is that I get to write-off the
"lease" payment (ie--the interest).

It's a no-brainer.

And the fact that asslicker cannot comprehend that shows why he is still
"king of the NG idiots"


Oh, he gets it alright. He's just being intentionally obtuse because he
doesn't want to admit that he was wrong...nor that he lacks the brains and
the balls to do something so financially brilliant.