talk to me of refinancing.

ERage said:
Phase II of taking over the world:
I will wait for the easy finance bubble to pop and the rates rise steadily. I will then watch all these overextended people start defaulting on their loans. That's when I swoop in and buy all the foreclosed properties mwuhahaha :pandora:


I just reread this post and it's lack of evilness was disturbing. I'm going to Krispy Kreme now :(
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Yeah, hopefully the market starts tanking about the time I buy in. *crosses fingers*
 
ERage said:
Phase II of taking over the world:
I will wait for the easy finance bubble to pop and the rates rise steadily. I will then watch all these overextended people start defaulting on their loans. That's when I swoop in and buy all the foreclosed properties mwuhahaha :pandora:


I just reread this post and it's lack of evilness was disturbing. I'm going to Krispy Kreme now :(
Click to expand...


I have been trying to explain this to my roommate/future bro-in-law for weeks. He hopes to purchase a foreclosed home for cheap, refinance, pay off all his bills and sell.
He has it planned out so that his house will sell in August, he won't have to pay a mortgage for at least two months, it will pay for his wedding and honeymoon. and he will find their home in the meantime.
 
thrawn said:
I have been trying to explain this to my roommate/future bro-in-law for weeks. He hopes to purchase a foreclosed home for cheap, refinance, pay off all his bills and sell.
He has it planned out so that his house will sell in August, he won't have to pay a mortgage for at least two months, it will pay for his wedding and honeymoon. and he will find their home in the meantime.
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The foreclosure market can be a real dicey one to get into...
 
ceiling fly said:
Yeah, hopefully the market starts tanking about the time I buy in. *crosses fingers*
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Yeah, I will be jumping in the market in about another year. I'm hoping that the rising interest rates drive enough buyers out of the market that sellers will be willing to sell at a price more reasonable for the property. These days it's still a sellers market. Higher interest isn't bad if you can negotiate a lower price from the start.
 
ERage said:
Yeah, I will be jumping in the market in about another year. I'm hoping that the rising interest rates drive enough buyers out of the market that sellers will be willing to sell at a price more reasonable for the property. These days it's still a sellers market. Higher interest isn't bad if you can negotiate a lower price from the start.
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The whole bottom has apparently already dropped out of the apartment complex turning into condo market around here. Houses should be next...
 
we went to a lake house this weekend in the north georgia mountains. they bought it for 60,000 and can now sell it easily for 500,000. you need to find some unknown, modest land on water, buy it and sit on it. when people discover it and want it (because that's what it's come to...all little hidden, quiet water land WILL be discovered and coveted), you can sell it and make a killing.
 
Thorn Bird said:
we went to a lake house this weekend in the north georgia mountains. they bought it for 60,000 and can now sell it easily for 500,000. you need to find some unknown, modest land on water, buy it and sit on it. when people discover it and want it (because that's what it's come to...all little hidden, quiet water land WILL be discovered and coveted), you can sell it and make a killing.
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so that's why flaming glory always talks about digging a big hole in his back yard for exercise. Now I get it :fly:
 
Thorn Bird said:
we went to a lake house this weekend in the north georgia mountains. they bought it for 60,000 and can now sell it easily for 500,000. you need to find some unknown, modest land on water, buy it and sit on it. when people discover it and want it (because that's what it's come to...all little hidden, quiet water land WILL be discovered and coveted), you can sell it and make a killing.
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The capital gains tax on the sale of that is going to SUCK.
 
ceiling fly said:
If you can get a better rate, you can get a better rate...
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True...but if you get a better rate now then a few years ago, someone got seriously hosed.
 
ERage said:
so that's why flaming glory always talks about digging a big hole in his back yard for exercise. Now I get it :fly:
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*adds another one to the short list*
 
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