FUCK THESE GUYS. FUCK YOU SCORE, GOD DAMN SELLOUTS. WHEN SOMEONE COMES IN AND WANTS A 15 YEAR LOAN GIVE HIM A 15 FUCKIN YEAR LOAN. NO, ITS NOT SMARTER TO GO FOR A 30 YEAR. THATS EXACTLY WHAT I WAS TOLD 10 YEARS AGO WHEN I WAS A MORTGAGE DUMBASS. GUESS WHAT? MY INTEREST WOULD HAVE ALREADY BEEN PAID OFF AND MY PRINCIPLE WOULD HAVE ALREADY SHURNK DRAMATICALLY BY NOW. BUT WHAT DO I HAVE RIGHT NOW WITH MY 30 YEAR "smart" LOAN? THE SAME FUCKING THING I STARTED WITH 10 YEARS AGO. NOT A GOD DAMN DIME HAS COME OFF MY PRINCIPAL YET BECAUSE ITS A 30 YEAR SUICIDE LOAN THAT HAS BEEN BOUGHT UP BY SOME OTHER ASSFUCKERS THROUGH A NATIONAL CITY BANKRUPTCY. THE LONGER THE LOAN IS, THE MORE MONEY THE FINANCE GUY MAKES AND NO, I WILL NOT PAY OFF A 30 YEAR LOAN BY MAKING EXTRA PAYMENTS BECAUSE NOBODY DOES THAT. THAT IS HOW YOU MAKE YOUR MONEY, BY RIPPING PEOPLE OFF.

SO FUCK YOU, FUCK U, FUCK U, YOURE NOT COOL, AND FUCK YOU TOWNE STONE

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the world will always the world. your entire existence is defined by your response.

some prinicpal comes off each month in a 30 year

There is a line of thinking that you could take the money you save each month and invest it. At today's rates (around 4 for 30) it would not be very difficult to beat the interest rate with your investment.

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O judgment! Thou art fled to brutish beasts,
And men have lost their reason.

Yeah, but those other investments could lose like 50%. Real Estate only goes up.

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I love Terry Boers. I hate Tim Tebow. The fact that the former will die before the latter show what a cruel, unjust world we live in.

another myth spread by mortgage lenders to get you to take out more money then you should. how can you even say that after what we just went through? millions of people have lost tens even hundreds of thousands of dollars on their "sure fire" real estate purchases.

the best loans are where you pay enough up front to avoid pmi and you put it on a 15 year or less term. period end of story. if you need to get a bigger loan then that, you need to find a cheaper place to live or get a better job.

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the world will always the world. your entire existence is defined by your response.

thats banker talk. the translation is: a negligible amount of principal comes off each month in a 30 year, until youre 20 years into the loan and you finally paid off all the interest (which usually adds up to twice as much as you actually owe :rolleyes: )

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the world will always the world. your entire existence is defined by your response.

Ike is correct. The neverending climb of real estate has....ended

If you make 1 extra mortgage payment a year you will cut 7 years off the life of your mortgage.

Take your mortgage payment and divide by 12. Take that number each month and add it to your monthly mortgage payment applying it to your principal.

Example...your mortgage payment is 1200 a month. If you divide that by 12 you get 100. If you pay 1300 a month (your regular 1200 payment plus an extra 100) you cut 7 years off the prinicpal in a traditional 30 year mortgage.

^^ or, get a 15 year mortgage and do the same thing. and if you find out that you cant for whatever reason, youre still going to be paid off in 15 years and not 23. with a LOT less interest charged.

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the world will always the world. your entire existence is defined by your response.

Called the guy once regarding options for a re-fi. At the time, rates had fallen to 5.5 and I have a 5.75 on my loan. He was actually really honest with me. Said rates were going to fall more but that the value of the house will likely also fall, so there probably wont be much I can do. The only thing that was awkward was that he talked to me like I was a kid. I mean... really talked to me like a kid. He kept saying "Have you been a good boy and made your payments?". Have I been a good boy? Made me a little uncomfortable and I started to question how professional he might really be in person.

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Except the monthly payment on a 15 yr mortgage is a lot higher than a 30 yr. Don't let that get in the way.

The long term value of buying vs renting has decreased, but it is still a better value in most cases (for most people).

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Needless to say, if you can afford the monthly payments on a 10 or 15 year mortgage, it's better than getting a 20 or 30 year mortgage.

I've re-fi'd once on my prior home, and twice on my current home. It doesn't matter how sweet of a deal you THINK your getting, you get ass raped somehow, it it's not in buried fees, then it's in escrow.

Al Barlick once told me that it's not about the rate, it's about the monthly payment.

Anyway, Hochberg blows, he's always pissing on people and harshing their buzz. I much prefered JOE ALDEGUER. He was about empowering people. That's why his unceasingly optimistic motto was LET'S GET RICH!!!. Hochberg's motto is "you're a dumbass"

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I love Terry Boers. I hate Tim Tebow. The fact that the former will die before the latter show what a cruel, unjust world we live in.