i would take it out over a year or two, both ways, in excel, and see where the bottom line stands then...
but im sure you already thought of that :) tw On Fri, 21 Jan 2005 11:22:44 -0500, Michael T. Tangorre <[EMAIL PROTECTED]> wrote: > > 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. > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Find out how to get a fax number that sends and receives faxes using your current email address http://www.houseoffusion.com/banners/view.cfm?bannerid=64 Message: http://www.houseoffusion.com/lists.cfm/link=i:5:143766 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=89.70.5 Donations & Support: http://www.houseoffusion.com/tiny.cfm/54
