Interesting article about equity & debt.

iVillage Member
Registered: 04-11-2005
Interesting article about equity & debt.
2
Sun, 08-28-2005 - 9:41pm

I found this article to be very interesting and very sad at the same time.

Lara

 

iVillage Member
Registered: 03-27-2003
Sun, 08-28-2005 - 9:58pm

I found it depressing because I don't think home values are rising so much here and we're not saving substantially for retirement either OUCH! I live in the Midwest (SW Missouri) and hearing those house prices is just unreal to me. We bought an older home w/ 3 bedrooms 1 1/2 baths 2 years ago for 115,000. DH and I disagree on the paying your mortgage early. I would like to see us pay off the mortgage early because of the safety factor and not paying interest. He would like to invest money before doing an early payoff citing his grandparents who thought that early payoff was silly if you could get a higher interest rate with investments and have the tax break. Shoot, I would just love to be in a position to debate it out with him LOL.

I think the housing market will not continue to rise and a lot of people will be hurt.

Taleyna

iVillage Member
Registered: 05-30-2003
Mon, 08-29-2005 - 4:14pm

Wow! I'm with the Brockman's.

My mom holds our mortgage, and we have just over $46,000 left to pay on it. We had to take one loan through the bank to pay off the IRS one year, and she said that if we chose to do that again, we had to refinance the house and buy her out. No thanks! We pay her $200/month, 0%APR. It's just not worth it to me to do that.

We are going to be completely debt-free. This includes the mortgage. I can't imagine saying, "Oh, the equity in the house is going to be our retirement."

Ah, to each their own...

Lisa