"basskisser" wrote in message
ups.com...

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

Harry Krause wrote:
NOYB wrote:
"Shortwave Sportfishing" wrote in message
...
On Wed, 23 Aug 2006 20:26:02 GMT, "NOYB" wrote:

It's insurance! Or lack thereof. In Florida, it is now
impossible
to
insure a boat over 30' long valued at more than $100,000 if the
boat:

a) doesn't have a trailer

and/or

b) is more than 5 model years old (2001 and older are uninsurable
if
they're
over 30 feet and valued at more than $100,000)
Hmmmm. So here's a scenario for you.

I have a custom made trailer for my Contender which is used to haul
the boat twice a season for a wash and wax. It also doubles as a
winter storage trailer - just put it on, park it and shrink wrap.

The only problem is if I wanted to take it from the yard, I would
need
a special permit because it's over-width for the highway. So I
couldn't just pick it up and move it away from the coast if a storm
approached or whatever.

If that boat was a, say 2000, would it be covered?

No. A 2000 wouldn't be covered unless it was valued under $100,000.
A
2002
would be covered, but the premium for a $100,000 boat is nearly
$5000/year.


I have no place to store a trailer unless I'm willing to pay
$150/month
storage fee. Even if I pulled the boat, where would I put it? And
I'd
need
something that could tow upwards of 12,000 lbs that is 10'6" wide.





No room on the lot of that million dollar house to stash a boat
trailer?

Incredible.

Bwaaahaa!! He got hosed in the housing bubble. Along with an interest
only loan!

My house appraised in July, 2005 for 50% more than I paid for it in
March,
2004. The house next to mine is the same size, but sits on the end of a
canal (less desirable) and is listed for $1.59 million. They won't get
that, but if they lowered it to $1.2 million it would sell tomorrow.

But, what does it appraise for NOW as opposed to what you've paid for
it, and how much of that has been soaked up by the interest rate you're
paying??

I didn't catch where he said his home is mortgaged. Not all of us have
mortgages.

ACP wrote:
"basskisser" wrote in message
ups.com...

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

Harry Krause wrote:
NOYB wrote:
"Shortwave Sportfishing" wrote in message
...
On Wed, 23 Aug 2006 20:26:02 GMT, "NOYB" wrote:

It's insurance! Or lack thereof. In Florida, it is now
impossible
to
insure a boat over 30' long valued at more than $100,000 if the
boat:

a) doesn't have a trailer

and/or

b) is more than 5 model years old (2001 and older are uninsurable
if
they're
over 30 feet and valued at more than $100,000)
Hmmmm. So here's a scenario for you.

I have a custom made trailer for my Contender which is used to haul
the boat twice a season for a wash and wax. It also doubles as a
winter storage trailer - just put it on, park it and shrink wrap.

The only problem is if I wanted to take it from the yard, I would
need
a special permit because it's over-width for the highway. So I
couldn't just pick it up and move it away from the coast if a storm
approached or whatever.

If that boat was a, say 2000, would it be covered?

No. A 2000 wouldn't be covered unless it was valued under $100,000.
A
2002
would be covered, but the premium for a $100,000 boat is nearly
$5000/year.


I have no place to store a trailer unless I'm willing to pay
$150/month
storage fee. Even if I pulled the boat, where would I put it? And
I'd
need
something that could tow upwards of 12,000 lbs that is 10'6" wide.





No room on the lot of that million dollar house to stash a boat
trailer?

Incredible.

Bwaaahaa!! He got hosed in the housing bubble. Along with an interest
only loan!

My house appraised in July, 2005 for 50% more than I paid for it in
March,
2004. The house next to mine is the same size, but sits on the end of a
canal (less desirable) and is listed for $1.59 million. They won't get
that, but if they lowered it to $1.2 million it would sell tomorrow.

But, what does it appraise for NOW as opposed to what you've paid for
it, and how much of that has been soaked up by the interest rate you're
paying??

I didn't catch where he said his home is mortgaged. Not all of us have
mortgages.

Haven't been around long, huh? He's proud of his interest only mortgage!

"basskisser" wrote in message
ps.com...

ACP wrote:
"basskisser" wrote in message
ups.com...

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

Harry Krause wrote:
NOYB wrote:
"Shortwave Sportfishing" wrote in message
...
On Wed, 23 Aug 2006 20:26:02 GMT, "NOYB" wrote:

It's insurance! Or lack thereof. In Florida, it is now
impossible
to
insure a boat over 30' long valued at more than $100,000 if the
boat:

a) doesn't have a trailer

and/or

b) is more than 5 model years old (2001 and older are
uninsurable
if
they're
over 30 feet and valued at more than $100,000)
Hmmmm. So here's a scenario for you.

I have a custom made trailer for my Contender which is used to
haul
the boat twice a season for a wash and wax. It also doubles as
a
winter storage trailer - just put it on, park it and shrink
wrap.

The only problem is if I wanted to take it from the yard, I
would
need
a special permit because it's over-width for the highway. So I
couldn't just pick it up and move it away from the coast if a
storm
approached or whatever.

If that boat was a, say 2000, would it be covered?

No. A 2000 wouldn't be covered unless it was valued under
$100,000.
A
2002
would be covered, but the premium for a $100,000 boat is nearly
$5000/year.


I have no place to store a trailer unless I'm willing to pay
$150/month
storage fee. Even if I pulled the boat, where would I put it?
And
I'd
need
something that could tow upwards of 12,000 lbs that is 10'6"
wide.





No room on the lot of that million dollar house to stash a boat
trailer?

Incredible.

Bwaaahaa!! He got hosed in the housing bubble. Along with an
interest
only loan!

My house appraised in July, 2005 for 50% more than I paid for it in
March,
2004. The house next to mine is the same size, but sits on the end of
a
canal (less desirable) and is listed for $1.59 million. They won't
get
that, but if they lowered it to $1.2 million it would sell tomorrow.

But, what does it appraise for NOW as opposed to what you've paid for
it, and how much of that has been soaked up by the interest rate you're
paying??

I didn't catch where he said his home is mortgaged. Not all of us have
mortgages.

Haven't been around long, huh? He's proud of his interest only mortgage!


It doesn't adjust for another 2 1/2 years. I'll have my business loan paid
off by then, and have another $6,000/month ($4500/month after taxes) to pay
for any rate adjustment.

But keep in mind that I had a rate of 4.25% locked for 5 years. If I had a
done a conventional 30 year loan at the time, the rate was around 6%. I
will have saved over $55,000 in interest for the first 5 years of living in
my house. Even if rates bump 2 points in 2009, and another 2 points in
2010, it would take until 2012 or 2013 until I'd have spent the same amount
that I would have spent on a conventional 30 year mortgage from the get-go.

"NOYB" wrote in message
hlink.net...

"basskisser" wrote in message
ps.com...

ACP wrote:
"basskisser" wrote in message
ups.com...

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

Harry Krause wrote:
NOYB wrote:
"Shortwave Sportfishing" wrote in message
...
On Wed, 23 Aug 2006 20:26:02 GMT, "NOYB" wrote:

It's insurance! Or lack thereof. In Florida, it is now
impossible
to
insure a boat over 30' long valued at more than $100,000 if
the
boat:

a) doesn't have a trailer

and/or

b) is more than 5 model years old (2001 and older are
uninsurable
if
they're
over 30 feet and valued at more than $100,000)
Hmmmm. So here's a scenario for you.

I have a custom made trailer for my Contender which is used to
haul
the boat twice a season for a wash and wax. It also doubles as
a
winter storage trailer - just put it on, park it and shrink
wrap.

The only problem is if I wanted to take it from the yard, I
would
need
a special permit because it's over-width for the highway. So I
couldn't just pick it up and move it away from the coast if a
storm
approached or whatever.

If that boat was a, say 2000, would it be covered?

No. A 2000 wouldn't be covered unless it was valued under
$100,000.
A
2002
would be covered, but the premium for a $100,000 boat is nearly
$5000/year.


I have no place to store a trailer unless I'm willing to pay
$150/month
storage fee. Even if I pulled the boat, where would I put it?
And
I'd
need
something that could tow upwards of 12,000 lbs that is 10'6"
wide.





No room on the lot of that million dollar house to stash a boat
trailer?

Incredible.

Bwaaahaa!! He got hosed in the housing bubble. Along with an
interest
only loan!

My house appraised in July, 2005 for 50% more than I paid for it in
March,
2004. The house next to mine is the same size, but sits on the end
of a
canal (less desirable) and is listed for $1.59 million. They won't
get
that, but if they lowered it to $1.2 million it would sell tomorrow.

But, what does it appraise for NOW as opposed to what you've paid for
it, and how much of that has been soaked up by the interest rate
you're
paying??

I didn't catch where he said his home is mortgaged. Not all of us have
mortgages.

Haven't been around long, huh? He's proud of his interest only mortgage!


It doesn't adjust for another 2 1/2 years. I'll have my business loan
paid off by then, and have another $6,000/month ($4500/month after taxes)
to pay for any rate adjustment.

But keep in mind that I had a rate of 4.25% locked for 5 years. If I had
a done a conventional 30 year loan at the time, the rate was around 6%. I
will have saved over $55,000 in interest for the first 5 years of living
in my house. Even if rates bump 2 points in 2009, and another 2 points in
2010, it would take until 2012 or 2013 until I'd have spent the same
amount that I would have spent on a conventional 30 year mortgage from the
get-go.

Not to mention the tax deduction you get......which likely makes your
effective rate around 3%

Kevin apparently still has not mastered Econ 101