House purchase: Cash buy VS Mortgage

[FinitoxDinamita]

Let�s say you are looking for a forever home with couple millions bucks saved up for a rainy day.

Mortgage or cash... which do you prefer and why?

[Zaroku]

you again..

ok

go in with 20 percent... get a few other places.. i did..

rent them..

oye vey.. you are a fool.

italian and korean,, love your in laws boy..

my wife is half korean, and she blames her passion on her korean blood..

straight outta jail.. me.. I blame it on the weather.
i fight.. I fight good.. i am down for me and mine..

stay in k town...

[Left Hook Tua]

Let�s say you are looking for a forever home with couple millions bucks saved up for a rainy day.

Mortgage or cash... which do you prefer and why?

As long as you're planning to stay there at least 10-15 years and build up equity

If you dont plan on keeping it that long, dont get a mortgage

Not worth it

You're better off just renting a house

[Left Hook Tua]

you again..

ok

go in with 20 percent... get a few other places.. i did..

rent them..

oye vey.. you are a fool.

italian and korean,, love your in laws boy..

my wife is half korean, and she blames her passion on her korean blood..

straight outta jail.. me.. I blame it on the weather.
i fight.. I fight good.. i am down for me and mine..

stay in k town...

Koreans don't live in ktown

Ktown is full of Mexicans and centros

Koreans just have businesses in ktown

Most koreans in l.a. now live in the richer west side or suburbs like cerritos or the valley and sgv.

Most koreans left ktown after the 90s. Just like most Filipinos left rampart.

[Mooshashi]

I own or bought for my kids 5 houses in two states....all cash only. I don't own anybody a dime.

[billeau2]

Let’s say you are looking for a forever home with couple millions bucks saved up for a rainy day.

Mortgage or cash... which do you prefer and why?

Finitox. If you want to pay a house off...fine, do this. Get the most ******* mortgage you can...Interest only 5% down, whatever... Start a brokerage account, something that pays at least 4%, and here is what you do: Every month, pay the bank the minimum, take the rest of the money that would constitute the payment and put it in this account. What you are doing is, instead of giving the bank the interest you are taking it yourself, you will also get a big mortgage deduction, and you can invest that money under certain conditions, tax deferred, even tax free.

You do this every month and if you must, you will always have the money to pay the bank right? Plus interest, plus with a write off. Another way to do it? take the money you would give the bank and ladder bonds so that the bonds maturing will pay the house off in a set number of years. So for example, I buy two 150k bond for 75K that will mature in 20 years, and if my house cost 300k I buy two of them per a twenty year mortgage.

Don't ever give the bank money you do not have to give them. One final thing: if you ever get in trouble guess what? If all that money is in a side account when the bank goes to see if they want to "help you" they will see that if they foreclose on you, your house will be a pain to sell, where as if you had paid it down, it would be easy to sell it and get the value back.

For example: you and your neighbor buy identical houses, both of you are in trouble: You owe most of your mortgage of 150k because you have paid the absolute minimum, while your neighbor has paid every month and is two payments off from owning the house. As the bank president you have to sell one of these houses to recoup, which one is easier to sell? The house that you have to sell for 150k? of the house that is paid up almost completely? that is how banks decide when to foreclose best believe it.

[Zaroku]

Koreans don't live in ktown

Ktown is full of Mexicans and centros

Koreans just have businesses in ktown

Most koreans in l.a. now live in the richer west side or suburbs like cerritos or the valley and sgv.

Most koreans left ktown after the 90s. Just like most Filipinos left rampart.

yep... i have seen this..effect... i used to love this korea chick. unhee.. her brother was jin ho choi. they got outta the ****** fast. so did the vietnames, koreans, mong, etc... they move in, and move out.. my people make up excuses... like the white man is holding us back.. if that white man wasnt holding us back.. the racist white man.. who is only holding back blACKS AND MEXICANS..

whity is all mighty, and looking for ways to hold down blacks and messicans...

i got called a race traitor, and a fool for striving.. learni9ng from people who took sht all their lives, and made the best of it.. that is my people

[New England]

interest rates are still low. unless you're up against other cash buyers and you won't get a good price or even an accepted offer you should look into financing.

don't trust idiots on the bscene. include me with that. you don't know who the f#ck i am r what my credentials are. you're making the most important decision you'll likely ever make with your money unless you own a business or are a very high paid professional.

[Curtis Harper]

I'm all about owning. I don't want anyone to tell me what I can and can't do.

[Don Pichardo]

Pay cash. Mortgages are for fools.