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

To: GraceZ who wrote (11434)	7/1/2003 3:41:44 PM
From: J. P.	Read Replies (2) \| 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.>> Are you saying the chances of home prices falling are the same as an asteroid hitting the earth? <<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.>> Are you saying that their credit cards had longer than a 15 year term? This is all in fun! I do agree that a system of perpetual refi's would be utopia. It would take all the thought process out of financial management. Just buy a house, borrow lots of money, and refi to pay it back. But we have to keep lowering interest rates to keep it going, and the Fed is at 1% right now.