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

To: J. P. who wrote (11432)	7/1/2003 3:20:10 PM
From: GraceZ	Read Replies (1) \| Respond to of 306849

...and what if the Earth was hit by an asteroid, then they wouldn't have to pay any of it back. They owed the 35k before they refinanced and they still owe it, only now it's a fixed rate debt with a shorter term and far lower cost. Their mortgage payment is the same and they are paying off an extra 300 in principle every month so that they can be debt free in ten years and they are still $1000 ahead each month in free cash flow which is enough to give them some decent money to put into investments. They seem very determined to get rid of all debt and I think they can do it in the current environment. Sometimes it takes a near death experience for someone to get religion.