> From: Deanna Schneider [mailto:[EMAIL PROTECTED] > But, even if the market is appreciating, if you can't afford > the larger payment that still means you are going to _have to > sell_ when the principal payments come due. I'm not saying > you shouldn't do it - only you know if you're going to want > to sell at that point. But, the fact that the house is worth > more doesn't suddenly make what you owe on the house any > less. Okay, so you could refinance at that point, perhaps. > But, what will that buy you? More closing costs and > prolonging the debt by another 5 years again. > > Can you tell I'm fiscally conservative? I figure if you can't > afford the house, you shouldn't be buying it.
Let me be clear: I am not considering an IO option on the mortgage because I can not afford the house, nor because I can not afford the payment, nor because I can not afford the payment... The purpose is to look at the long term and short financial advatages and disadvantages to both. I would never put myself into the situation of taking options to "afford" a home... That is silly. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Now there’s a better way to fax. eFax makes it possible to use your existing email account to send and receive faxes. Try eFax free. http://www.houseoffusion.com/banners/view.cfm?bannerid=63 Message: http://www.houseoffusion.com/lists.cfm/link=i:5:143760 Archives: http://www.houseoffusion.com/cf_lists/threads.cfm/5 Subscription: http://www.houseoffusion.com/lists.cfm/link=s:5 Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5 Donations & Support: http://www.houseoffusion.com/tiny.cfm/54
