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SVTPerformance's Chain of Restaurants
Road Side Pub
15-year fixed vs 30 year fixed for $80,000 mortgage.
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<blockquote data-quote="vipergts281" data-source="post: 4672883" data-attributes="member: 10912"><p>So you are obviously very wealthy then?</p><p></p><p>So how is taking a 30 year mortgage stupid compared to taking the 15 year? Take the money saved, and invest into something that gives back a higher rate of return.</p><p></p><p>Yeah, the reason is because people use credit cards to buy things that are WAY out of their budget. Use common sense when using plastic.</p><p></p><p>It just tells me that he takes action and only knows how to succeed and reach his goals.....that's all he knows how to do. It's the same reason why most people who win the lottery lose it all a few years later....they never had money before because of a certain reason. So when they get it, they have no clue how to manage it.</p><p></p><p></p><p>There is something about you that I just can't put my finger on. I get the impression you went to Barnes and Noble and bought all of theses BS books on saving money and crap like that. And now you live by it. You do nothing but preach "never finance things, always pay cash." Like I said before, in a perfect world that is obviously the best course to take. But, maybe you have noticed, we don't live in a perfect world. </p><p></p><p>Financing is NOT always a bad move. 95% of people can NOT afford to buy a $250,000 house in cash. So then, according to your philosophy, they should buy a $50,000 house (or whatever dollar amount they have in cash). Give me a break. If they make enough monthly to afford the mortgage on the house, then what's the problem? </p><p></p><p>Have you forgotten about how the value of the home will increase? Or the fact that a mortgage payment has some nice tax advantages?</p><p></p><p>If we all lived by "pay cash for everything", then most people would lead a shitty lifestyle. Hey, if you want that, then by all means go for it.</p><p></p><p></p><p></p><p>So I ask you again, are you wealthy? Surely you must be from the first quote above.</p><p></p><p><span style="color: black">.</span></p></blockquote><p></p>
[QUOTE="vipergts281, post: 4672883, member: 10912"] So you are obviously very wealthy then? So how is taking a 30 year mortgage stupid compared to taking the 15 year? Take the money saved, and invest into something that gives back a higher rate of return. Yeah, the reason is because people use credit cards to buy things that are WAY out of their budget. Use common sense when using plastic. It just tells me that he takes action and only knows how to succeed and reach his goals.....that's all he knows how to do. It's the same reason why most people who win the lottery lose it all a few years later....they never had money before because of a certain reason. So when they get it, they have no clue how to manage it. There is something about you that I just can't put my finger on. I get the impression you went to Barnes and Noble and bought all of theses BS books on saving money and crap like that. And now you live by it. You do nothing but preach "never finance things, always pay cash." Like I said before, in a perfect world that is obviously the best course to take. But, maybe you have noticed, we don't live in a perfect world. Financing is NOT always a bad move. 95% of people can NOT afford to buy a $250,000 house in cash. So then, according to your philosophy, they should buy a $50,000 house (or whatever dollar amount they have in cash). Give me a break. If they make enough monthly to afford the mortgage on the house, then what's the problem? Have you forgotten about how the value of the home will increase? Or the fact that a mortgage payment has some nice tax advantages? If we all lived by "pay cash for everything", then most people would lead a shitty lifestyle. Hey, if you want that, then by all means go for it. So I ask you again, are you wealthy? Surely you must be from the first quote above. [color=black].[/color] [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
15-year fixed vs 30 year fixed for $80,000 mortgage.
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