Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: ArrogantBustard
Very few people have the cash on hand to make a large down payment to avoid private mortgage insurance. So to avoid that on their mortgage, they take out a piggyback one. As long as the times are good, its mangeable. Its when things go south that there's big trouble on the horizon.

"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." -Manuel II Paleologus

20 posted on 12/04/2006 2:15:07 PM PST by goldstategop (In Memory Of A Dearly Beloved Friend Who Lives On In My Heart Forever)
[ Post Reply | Private Reply | To 7 | View Replies ]


To: goldstategop
Very few people have the cash on hand to make a large down payment &c

Yes, I'm well aware of that. We're talking about NO down payment, here, and getting an interest only loan on top of that. It's nuts. It's a formula for being in debt for the rest of your life, the financial gain is only in the income tax deduction, and IMHO it's evidence that one shouldn't be buying that much house.

32 posted on 12/04/2006 2:27:00 PM PST by ArrogantBustard (Western Civilisation is aborting, buggering, and contracepting itself out of existence.)
[ Post Reply | Private Reply | To 20 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson