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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Tom Smith who wrote (107980)6/10/2001 11:34:34 PM
From: Les H  Read Replies (1) of 436258
 
been spending most their lives, living in a banksta's paradise...

household debt and stagnant home equity balances is as good a reason to eliminate the home equity and home mortgage interest deductions. people aren't buying homes for purchase. they're buying them for lease. knew someone who at age 69 took out a $ 140,000 mortgage on a house originally bought for $ 35,000 with four years left to be fully paid off. he died eighteen months later, and left the widow with a pension of $ 17,000. sold off the junk he bought and refinanced with the mortgage at $ 70,000.
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