Story and How much have you paid down so far?

its been covered in a previous thread IIRC.

To bad, I say we have a thread on just it.

its probably a mortgage

yeah I think i missed that thread

mortgage and car loan for a daily driver.

I hope to have it down to 273,000 by March 07 by putting more into the principal. ---yeah, I want to shoot myself. :(

as long as that house keeps increasing in value, you're set.

I can't accurately remember, but the same house (cookie cutter type area) sold for $450-475,000 a few months ago.

I don't know about this market though. It may stay like this for a while or home prices might actually drop in this area.

I love people who think that the housing bubble will burst and deflate like the tech bubble did.

News flash: People are having babies. Lots of them. They will need a place to live eventually. The earth, on the other hand, is not getting any bigger. Therefore, real estate prices will ultimately go up. Period.

:)

I love people who think that the housing bubble will burst and deflate like the tech bubble did.
It will never "burst" but you are ignorant if you think that the trend will keep going up with the speed it has been. Things always, always, go through a boom/bust cycle. You will never loose your ass on real estate, there will never be more land, but you still can loose some of your initial investment short-term.

News flash: People are having babies. Lots of them. They will need a place to live eventually.

s/People/Mexicans//

I have Mexican ancestry and I'm only having one kid. Vasectomy FTW

I know what you mean though :D

I love people who think that the housing bubble will burst and deflate like the tech bubble did.

News flash: People are having babies. Lots of them. They will need a place to live eventually. The earth, on the other hand, is not getting any bigger. Therefore, real estate prices will ultimately go up. Period.

:)
yea, it never popped in 1980 nor did it pop in 1992. I remember the japanese Investors all crying in 92 when they lost their ass by investing in the US real Estate market.........What do you remember about 92??? Getting a new diaper? Moving UP to the 4 year old room at pre-school. Loosing your binky
http://members.bellatlantic.net/~vze2gt8w/images/woodstock/binky.jpg

yea, it never popped in 1980 nor did it pop in 1992. I remember the japanese Investors all crying in 92 when they lost their ass by investing in the US real Estate market.........What do you remember about 92??? Getting a new diaper? Moving UP to the 4 year old room at pre-school. Loosing your binky
http://members.bellatlantic.net/~vze2gt8w/images/woodstock/binky.jpg

That picture looks like one of those modern art type things.

The relationship between binky and cigarette. Maybe kids who wouldn't let the binky go smoke to compensate.
HHHMMMMMMM

That picture looks like one of those modern art type things.
How 'bout this.......Google....images...."binky"......enter

How 'bout this.......Google....images...."binky"......enter


Yeah Yeah I’m just saying in our current world with homos and liberals that shit could win the Nobel Peace Prize or some shit.

lol

I thought you were making the word binky up :D

No binky is a word. Here is another picture of a binky just so you're sure.

http://i102.photobucket.com/albums/m106/pepsi888/cid_00c201c6b5a87caf8a500201a8c0TRE.jpg

hmmmm thanks for the idea Amish. I'm off to the store.

hmmmm thanks for the idea Amish. I'm off to the store.

LOL

Make sure you ask for a "Binky".

lol.

so where's the thread about the debt?

I hope you have $304,000 worth of shit at least.

Who's telling you that you need to pay down x percent of your mortgage by a certain date?

You have the loan, you make your payments, and you either prepay or you don't.....they can't force you to do it. Or did you just bite off more mortgage than you can chew?

Housing is going to be flat for awhile, but I don't anticipate a "bust", didn't happen suddenly enough. People have been converting their var-rates to fixed and generally watching their asses this time, at least a little more than usual.

I want to pay off the house sooner.

I want to pay off the house sooner.

So this is a self-imposed deadline? That's not bad then, much less stressful.

Any reason in particular for wanting to prepay so early? What kind of mortgage do you have? (fixed, ARM, what rate, etc...)

If you're in one of those nice 4-5% 30-year fixed mortgages, I'd sit on that and not prepay a damned thing. That's cheap capital. If you have leftover cash, you can invest it and only need a 5% return or better to net out a gain.

Even just a big, stable index fund like VTI or SPY will return something like 12% annually when averaged over the 30 years of your mortgage (with a lot of that 12% being dividends, of course)

I have a 5 year fixed with 6%. I just got off an ARM :(