Originally Posted by Stephen4036
(Post 356966)
yea, 40 and 50 year mortages wont work lol....
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Originally Posted by venom
(Post 356969)
Do you think banks want you to pay off loans? Once you pay the loan no money is being made.
Banks don't care if you never pay off your loan and are indebt to them when you die as long as you pay them somthing every month it's like rent |
Originally Posted by venom
(Post 356969)
Who cares if they never pay it off, we will be making money off the interest and they will not lose their homes. Do you think banks want you to pay off loans? Once you pay the loan no money is being made.
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Originally Posted by jjtgiants
(Post 356970)
My mortgage is 40 years.....It was part of a first time homebuyers program through Bank of America. Not sure it exists anymore, and it might have been something that was only offered in my area, but 40 years does happen. I say why not? How many people actually pay off their house?!
I fully intend to pay off mine... i dont trust 401k even though i have one, i figure the biggest bill most people have is thier rent/mortgage. I plan to eliminate that within the next 20 years and own my house. Then when i get old and toothless maybe i can get a reverse mortgage and they can pay me to infest the place with old man smell. |
Originally Posted by JackThe Ripper
(Post 357017)
I fully intend to pay off mine...
i dont trust 401k even though i have one, i figure the biggest bill most people have is thier rent/mortgage. I plan to eliminate that within the next 20 years and own my house. Then when i get old and toothless maybe i can get a reverse mortgage and they can pay me to infest the place with old man smell. |
This is a good movie to watch http://www.maxedoutmovie.com/
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IOUSA I here was also pretty good.
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