tangerinegreen555
Well-Known Member
And you have to lease cars?
Need to buy a new car for my wife...
- Thread starter neosapien
- Start date
rkymtnman
Well-Known Member
i only worked part time this summer. my wife makes the money around here. i just grow weed for us.
rkymtnman
Well-Known Member
VW's no less. He's big ballin'
tangerinegreen555
Well-Known Member
I'll bet he loves reverse mortgages!
cannabineer
Ursus marijanus
DonnyTinyHands
Well-Known Member
Audi S4 currently but still in the family.
No bro, that's a scam they pulling on dumb people. Take all the equity out as cash and pay a normal mortgage. Use all those money's you got from the bank at a fake cheap rate to make moneys to make the payments. Doing it the other way and letting the bank hold the money and earn the money the money makes is fiscally retarded.
rkymtnman
Well-Known Member
You mean The Fonz led me astray??
What Is a Reverse Mortgage? How Does It Work? | LowerMyBills
Reverse mortgages let older adults convert equity into cash and afford home expenses. Read on to learn the pros and cons of getting a reverse mortgage.
www.onereversemortgage.com
cannabineer
Ursus marijanus
Looks like Finshaggy Financial Fartnership is a going concern.
DonnyTinyHands
Well-Known Member
I don't watch commercials, but if he told you a reverse mortgage was a good deal for you, I'd say yes, he's scamming you. It's wimpy and dumb. Take ownership of your money, the bank isn't going to look after you if you let them hold it.You mean The Fonz led me astray??
What Is a Reverse Mortgage? How Does It Work? | LowerMyBills
Reverse mortgages let older adults convert equity into cash and afford home expenses. Read on to learn the pros and cons of getting a reverse mortgage.
rkymtnman
Well-Known Member
even though finshaggy was before my time here, his legacy lives on!!
So explain how letting the bank hold your home is taking ownership of your money?
rkymtnman
Well-Known Member
thaks for proving my point. financing money is not how you do it. owning things outright is the way to go.
rkymtnman
Well-Known Member
Anyone who can grow pot in rice is a legend!
ROFLMAO it's a cute plan!
tangerinegreen555
Well-Known Member
DonnyTinyHands
Well-Known Member
No. It's literally the way to be trapped in the rat race while smarter people have plenty of money to do as they please without having the slave away everyday.
You can borrow that money at 3% or less. You could throw a dart at investments and earn double that. To not have everything you can financed for as much as they will give you against it at rates lower than you can earn by withdrawing that equity and putting it to work is just being dumb.
But I'm done giving advice for now. Do as you please. The economy would collapse if everybody was a lazy prick taking advantage of the current system like me. If you feel smart paying shit off and going to work everyday like a good little wage slave you have right fucking at it.
rkymtnman
Well-Known Member
the economy did collapse just 10 years ago. one of the main causes was that everybody was financed out their ass and when the economy tanked, they couldn't afford to pay their notes, leading to repos or defaults. so when the economy corrects again in the near future, our house will be paid off and we'll coast thru it while at the same time investing our ex house payment into the market at bargain prices.
DonnyTinyHands
Well-Known Member
So you own a asset your expecting to take a major hit to its value fairly soon.. sounds smart. I mean I prefer assets I expect to appreciate but you clearly have a different financial strategy than myself.
If owning a home right now in North America is a good investment is another discussion entirely. I'd say no. But it's not as cut and dry as the advice I'm giving to using cheap rates to make money as much as you can.
The fact that house prices could collapse is more reason to max out they financing. If the drop is big and the bank owns the stupid house you can just walk away from it. It's a secured loan. They can have their security back. You take no significant loss on it, it's their loss. Under your system it's yours. That loss is all you.
That's precisely my son's plan. He bought a home in Santa Monica close to the beach. He's paying it off in 4 years while he's fixing it up. Come the next re-adjustment he'll be in a good position to take advantage.