Mortgage rates

[nobbie48]

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Sitting with a friend last night I jokingly asked , how long will it take to pay off your two million dollar mortgage on your cottage ? His answer , who cares? My two million is earning five to seven percent and I borrowed this money at three . If it swings wrong I could pay it out . Or sell the place and take my property value gains . Why would I use my own money if I didn’t have to? I guess that’s why he has a three million dollar cottage and I do not lol.
@shanekingsly , that’s a great info list , a lot of people take what appears the best deal not looking at the fine points .


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The party usually ends when the property value crashes. In his case he has a backup plan to cash in investments, many don't.

 

[crankcall]

And the ability to wait out a crash, if you can stay in long enough it always comes back up , and then some. It’s the too deep too soon folks that take the beatings


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