Prices never dropped here but new home sales did drop causing a spike in
rents. Looks like those renters are looking for the American dream now.
BTW: I just refinanced at 3.875% on a 30 year fixed. Closing on Friday.
I'm looking to see if I can get an even lower rate since I haven't closed.
this topic effects EVERYONE, owners, buyers, and even renters......
since thats the case its on topic here.
and too many non owner occupied homes is bad news for any community.
most landlords take very poor care of their homes
firstname.lastname@example.org has a stick in his/her butt.
Yeah. I'd say historic low mortgage rates should be OT for just about any
homeowner, especially these days. Unless your credit rating is in the toilet.
I'd say on topic for a group like this. Housing market is important and
resales are still only half the rate they should be. It even effects
home repair since construction workers are idle and you can get good
work done at low cost.
I should add that I guess I take it a little personal because I keep
hearing stories like this on tv but you never hear the other side of
things. I am a landlord and mortgagee and I think I go outa my way
to be fair or more than fair. I never had any reporter ask me
questions about my situations so I guess they don't want to report the
other side of the story(ies). I guess tho I should be less critical
because we like to think tv is unbias in reporting their stories but
that's just not true. It's all about the ratings (viewership) nothing
Glad to hear you enjoyed it. Not sure I would say I enjoyed it unless
I had / have good tenants.
All I was saying before is that there are a lot of bad tenants as well
as bad landlords but it seems that it's only the landlords that get
the bad press. Yes, there are bad landlords, no argument there.
On Tue, 22 May 2012 19:18:49 -0700 (PDT), " email@example.com"
Beats me but we seem to have a lot of OT around here.
Well I won't defend them but at least they're not spamming the
newsgroup so I can live with their OT.
If it bothers you that much, take a break... relax !!!
too many poorly maintained homes in any neighborhood tend to drop home
values for everyone...
espically exterior maintence.
hey our rental home needs new windows, that will cost 5 grand.
instead of that lets go on a cruise?
see what i mean?
If you are really asking me, I see your point. As I said, there are
bad landlords but I feel the bad tenants don't get the same press the
bad landlords get so people tend to think the landlord is always at
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On 5/22/2012 10:29 PM, Doug wrote:
;) That would be ideal.
As it is, I'm hoping for about 3.66%
I could have done 3.15% on a 15 year but at these rates I figured just
pay extra on the principle and keep the payments low for a rainy day.
===========Purchase points, also known as a "buy-down" or "discount points," are an
up-front fee paid to the lender at closing to buy-down or lower your
interest rate over the life of the loan. Each point is equal to one
percent of your total loan amount. If you have a $100,000 loan, one
point would equal $1,000. The more points you buy, the lower your
interest rate, but the more money you'll need at closing.
How do you decide whether you should buy points and if so, how many?
Well, the decision should be based on how long you plan on living in
your home and what you can afford to pay each month toward your
mortgage. If you plan on living in your home for more than five years,
it's probably a good idea to purchase points. The longer you live in
your home, the more you can save on interest over the life of the loan.
We don't have these "points" on mortgages here in Canada.
The rate that a bank advertizes or the rate that gets negotiated with a
client is the final rate. We also have the option of making mortgage
payments once a week, or 2 per month, or once per month (and having it
automatically withdrawn from a savings or checking account). Paying
more often results in a lower amortized amount over time. Our mortgages
also allow for 1 or 2 balloon payments every year (typically $10k or
$20k) without incurring any sort of penalty.
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On 5/23/2012 7:00 AM, Home Guy wrote:
That would be a great option but I noticed banks don't like to do that
for obvious reasons. I did wave escrow, at least, so I avoided that
ripoff. I was able to do that w/o paying points too. Actually, it was
the mismanagement of escrow that started this refi.
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