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To: IngotWeTrust who wrote (3277)	8/20/2002 10:12:32 PM
From: loantech	Respond to of 4051

GT, I have to agree that having a mortgage is scary.But so are all month bills including rent. I still have a mortgage even though if I liquidated IRA I could pay it off. Tough choice. But I rented for many years of marriage (still married 32+ years)and made two bad buys and hopefully one good one. I prefer to own, or at least own part where the bank owns the other part. The rent part I mentioned is, is that at times it is better to rent than buy depending on rent's vs sales prices and we may be at that point in a lot of locales now in my opinion only. My comment about teepees is that either an investor has to own for someone to rent or we have to own ourselves or I guess live in a teepee or tent or whatever.(so the necessity for most to obtain a mortgage) You are smart and lucky to own outright. That is good and smart both in my opinion and I believe yours as you own f&c. We disagree on whole life. I think I can earn a better return on my money by buying term and investing the difference in other ways. Here's a shorter post, Tom

To: IngotWeTrust who wrote (3277)	8/21/2002 8:06:00 AM
From: loantech	Read Replies (1) \| Respond to of 4051

Gt, I see you are full of it again.<FWIW, that is how we financed our first home, with a 35K/30yr mortgage in 1968 at 5.25%, complete with whole life policy and credit life kicker. Now THAT's was a good deal.> <RE: 1968 1st mortgage deal (KS) t'was NOT $35K NET, it was a 30 year with $11K cash down>So gt just what was the purchase price? Values were cheaper in Kansas then than Oregon. Sounds like you paid too much. You claim it was a good deal then you say it was not 35K net. You sure like to twist other peoples stories but EVEN MORE IMPORTANT YOU TWIST YOUR OWN STORIES WITH YOUR LITTLE LIES you think people won't catch. Now let's visit on your other whoppers. $2600 a year gross income = $216.00 per month. Tell me gt did you sell your scrap gold at $35.00 per oz then to get your $11K down? If your cost of living was $100.00 month you would have needed to save for 8-10 years to get the 11k. You are full of crap. Now don't say it was a gift because in those days underwriting standards did not allow gift money as a form of down payment except on FHA loans. NOW HERE IS THE BIG LIE OF YOURS: You claim you made $2600.00 per year. Okay so far. But you also said your payment with your life crap was $168.00 per month. Now let's see that puts your qualifying house payment to income ratio at 77.8%. GT NO UNDERWRITER IN THE LAND WOULD HAVE APPROVED THAT LOAN. EHHHHHH AYYYYYY. Now after taxes your income would have been let's say 190 per month. Your payment was 168 leaving $22.00 per month to live on. Guess you were dodging the IRS on your other illegal income eh? BYE GT. You are a twisting fibber.