Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: MSI who wrote (7968)	1/7/2003 3:46:59 PM
From: GraceZ	Read Replies (1) \| Respond to of 306849

Right.

To: MSI who wrote (7968)	1/7/2003 3:56:27 PM
From: GraceZ	Respond to of 306849

I actually tried to convince a friend of mine who habitually pays his taxes late and that ridiculous interest to take out a small short term mortgage on the home he owns outright. His yearly taxes are about twice what my monthly mortgage payment is, he makes as much money as I do, yet he can't seem to get it together. If he had a mortgage they'd make him pay a monthly amount into an escrow account every single month and his insurance and taxes would always be paid on time. He could use the money from the mortgage to fix up the property (it really needs it) and the discipline of paying a mortgage every single month would actually be good for him. He's probably paying an amount in interest to the city equal to what his after tax interest on a small loan would be.