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alcibiades_mystery (1000+ posts) Send PM | Profile | Ignore | Mon Apr-25-11 01:00 PM Original message |
20% down fixed-rate loan with a local bank, probably 30-year for most |
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sinkingfeeling (1000+ posts) Send PM | Profile | Ignore | Mon Apr-25-11 01:02 PM Response to Original message |
1. I agree. |
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SheilaT (1000+ posts) Send PM | Profile | Ignore | Mon Apr-25-11 01:03 PM Response to Original message |
2. That's what I did when I bought |
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shireen (1000+ posts) Send PM | Profile | Ignore | Mon Apr-25-11 01:11 PM Response to Original message |
3. it's hard on first time homeowners |
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ParkieDem (417 posts) Send PM | Profile | Ignore | Mon Apr-25-11 01:14 PM Response to Reply #3 |
4. Exactly. |
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alcibiades_mystery (1000+ posts) Send PM | Profile | Ignore | Mon Apr-25-11 01:16 PM Response to Reply #3 |
5. But that's precisely why it's a good system |
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Lance_Boyle (1000+ posts) Send PM | Profile | Ignore | Mon Apr-25-11 01:29 PM Response to Reply #5 |
6. This is the winning post. |
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coalition_unwilling (1000+ posts) Send PM | Profile | Ignore | Mon Apr-25-11 09:23 PM Response to Reply #5 |
30. First-time homebuyer (condo) here in California. My wife and I waited to |
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shanti (1000+ posts) Send PM | Profile | Ignore | Tue Apr-26-11 06:29 PM Response to Reply #30 |
34. it's doable |
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eleny (1000+ posts) Send PM | Profile | Ignore | Mon Apr-25-11 01:48 PM Response to Reply #3 |
9. It's not supposed to be easy |
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BobbyBoring (1000+ posts) Send PM | Profile | Ignore | Mon Apr-25-11 02:24 PM Response to Reply #9 |
14. Yep, Bush got his ownership society! |
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truedelphi (1000+ posts) Send PM | Profile | Ignore | Mon Apr-25-11 04:29 PM Response to Reply #3 |
19. And it is impossible for many first timers who live |
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formernaderite (1000+ posts) Send PM | Profile | Ignore | Mon Apr-25-11 08:51 PM Response to Reply #3 |
26. It's supposed to be |
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SoCalDem (1000+ posts) Send PM | Profile | Ignore | Mon Apr-25-11 09:04 PM Response to Reply #3 |
27. That's why FHA was put in place for truly qualified first timers |
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lumberjack_jeff (1000+ posts) Send PM | Profile | Ignore | Mon Apr-25-11 01:44 PM Response to Original message |
7. With interest rates as low as they are, you're absolutely right. n/t |
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MineralMan (1000+ posts) Send PM | Profile | Ignore | Mon Apr-25-11 01:46 PM Response to Original message |
8. A good system. And right now, there are a bunch of houses |
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devils chaplain (245 posts) Send PM | Profile | Ignore | Mon Apr-25-11 01:54 PM Response to Original message |
10. K&R |
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taught_me_patience (1000+ posts) Send PM | Profile | Ignore | Mon Apr-25-11 02:04 PM Response to Original message |
11. What if you have a high income but not much saved? |
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alcibiades_mystery (1000+ posts) Send PM | Profile | Ignore | Mon Apr-25-11 02:14 PM Response to Reply #11 |
12. 20% is a reasonable upper limit for downward corrections in non-bubble markets |
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dkf (1000+ posts) Send PM | Profile | Ignore | Mon Apr-25-11 08:39 PM Response to Reply #11 |
25. Because markets don't normally correct over 20%. |
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taught_me_patience (1000+ posts) Send PM | Profile | Ignore | Mon Apr-25-11 11:24 PM Response to Reply #25 |
31. I've seen markets correct over 20% twice in the last 20 years... |
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SoCalDem (1000+ posts) Send PM | Profile | Ignore | Mon Apr-25-11 09:05 PM Response to Reply #11 |
28. In Argentina you have to pay in full..in cash |
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Lars39 (1000+ posts) Send PM | Profile | Ignore | Mon Apr-25-11 02:19 PM Response to Original message |
13. And pay it off early, if you can. |
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taught_me_patience (1000+ posts) Send PM | Profile | Ignore | Mon Apr-25-11 04:22 PM Response to Reply #13 |
18. I think this is a bad idea |
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Lars39 (1000+ posts) Send PM | Profile | Ignore | Mon Apr-25-11 05:18 PM Response to Reply #18 |
21. But that "free" money can be freed up to be saved for retirement or meds, |
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nichomachus (1000+ posts) Send PM | Profile | Ignore | Mon Apr-25-11 03:10 PM Response to Original message |
15. In truth |
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drmeow (1000+ posts) Send PM | Profile | Ignore | Mon Apr-25-11 03:38 PM Response to Original message |
16. There were a lot of reasons |
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hobbit709 (1000+ posts) Send PM | Profile | Ignore | Mon Apr-25-11 03:44 PM Response to Reply #16 |
17. My parents bought their house in 1967 for $13K |
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Annata4Peace (36 posts) Send PM | Profile | Ignore | Mon Apr-25-11 05:07 PM Response to Original message |
20. Remember 1999? |
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Commie Pinko Dirtbag (1000+ posts) Send PM | Profile | Ignore | Tue Apr-26-11 06:07 PM Response to Reply #20 |
32. Of course! It's all the fault of Democrats and poor people! |
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EstimatedProphet (1000+ posts) Send PM | Profile | Ignore | Wed Apr-27-11 06:37 AM Response to Reply #32 |
36. All those damn poor people that forced the banks to give them huge mortgages! |
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socialist_n_TN (1000+ posts) Send PM | Profile | Ignore | Mon Apr-25-11 05:19 PM Response to Original message |
22. Well the problem is that most people won't be able to |
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JoePhilly (1000+ posts) Send PM | Profile | Ignore | Mon Apr-25-11 05:24 PM Response to Original message |
23. I refinanced with a local bank recently. |
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jtuck004 (1000+ posts) Send PM | Profile | Ignore | Mon Apr-25-11 08:25 PM Response to Original message |
24. Wow. What a good idea. For 1944. |
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leftstreet (1000+ posts) Send PM | Profile | Ignore | Mon Apr-25-11 09:10 PM Response to Reply #24 |
29. +1 |
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Cali_Democrat (1000+ posts) Send PM | Profile | Ignore | Tue Apr-26-11 06:10 PM Response to Original message |
33. 20% down.....in Southern California? |
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Luciferous (1000+ posts) Send PM | Profile | Ignore | Tue Apr-26-11 06:33 PM Response to Original message |
35. My local bank sold our mortgage a month after we got it. I was |
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