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To: TheBattman
Save your money and buy a house. America's addiction to mortgages is weird. I fell for that crap back in 1987 when a good rate was 11%. Never again.

When you buy on a mortgage you also have no negotiating authority to get a good price on the home.

4% money is a close to free as I can say I ever experienced. That is lower than a passbook savings account from the 70s.

52 posted on 02/28/2018 10:13:38 AM PST by blackdog
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To: blackdog

Great advice... when one is paying for an existing mortgage, AND paying a lease at our new location. Exactly what money am I suppose to save at this point? Sorry, but there is none.

As to your second claim regarding negotiating - that is blatantly false. Might a cash offer be somewhat more attractive to sellers, particularly those who are motivated by a schedule (such as our own position trying to get out from under a home where we no longer live) - certainly. But I’ve seen lots of successful negotiating that a mortgage (or lack thereof) made no difference.

My wife is a loan assistant/processor - so I’m pretty acquainted with how the system works.


53 posted on 02/28/2018 11:28:33 AM PST by TheBattman (Voting for lesser evils still gets you evil...)
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