Open House Picks: Six Months Later
Comment: Freeze! Open House Picks 10/03/08 [Brownstoner] Previous Six Months Later Posts [Brownstoner]
Comment: Freeze!
Open House Picks 10/03/08 [Brownstoner]
Previous Six Months Later Posts [Brownstoner]
And a quote from brickoven from March 25th….
“my lease is up this summer and i would not even think of staying without a 20 percent reduction. My brother just got 25 percent off in Manhattan.”
And clearly paying attention…”WIFEY?”
WTF!!!
I wasn’t sure what you were actually getting at Johnny. Sorry, I think I misunderstood.
Dave i take money from people like you all day long who dont know how to do due diligence. Without people like you I would not eat so I thank you for creating the market for me. There is a margin call coming to many of you ARM holders. What are you going to do now that the banks want to see youre income, the rent rolls are crashing, and you have not paid one dollar off on the loan. You will be in denial until the bank takes the house and sells it at auction and wifey aint gonna like it when you explain to her what you have done. So i wish you the best but you are a loser
Dave, I was just mocking his insults. Always a nice way to make friends and influence people.
Me and my ARM are perfectly happy together.
FatLenny…yes, a 15 is better as long as someone can safely afford the payments. Even bttter yet, add money evry month and be surprised how much earlier it gets paid off than 15 or 30 years.
Your right about the average person spending around 5 years in their house but oftentimes we get situations that fuck with that plan…like now. Excuse the f word but there didn’t seem to be another more appropriate.
More Investment Advice for Dummies from Jackal. Why so partial to 30-year fixed? Why not 15-year fixed, just to be safe? No, let’s say 5-year fixed. “If you can afford to pay off your mortgage in 5 years, you shouldn’t be buying a house!”
C’mon, what is so complicated about a 10/1 ARM? How many aspects of the mortgage do you need to understand? Index, margin, fixed period, reset period, etc. It ain’t so complicated.
The average FTHB spends 5 years in his first house. Unless you can get a 30-year fixed with the same rate as a 10/1 ARM, you’re throwing money away every month by getting a 30-year fixed.
yo brownstoner, why does your blog always repo my browser window?? very annoying!
brickoven started commenting the last week in March…the same time posts from cornerbodega ceased…
Johnny…I’m not arguing whether or not an ARM is good for anyone in particular. generally, they are not. But that was not my question to brickuptheheadoven. He said that most of these properties were bought with ARMs and I asked him where that data comes from.
He acts like a child, you simply didn’t understand what I was asking about.