jturano7423 asked:


5 Reasons Renting Still Beats Buying (ABSURD)
By Jack Hough Mar 6th, 2009
At a time when Home prices are well discounted and mortgage rates are low, provides the opportunity for privacy and a good write off as well.
Never to have to move again, or have to keep the noise down, to have the room if you decide to have that 2nd. or 3 rd. child,never having to be at the landlord’s mercy for rent increases, put a new kitchen in and told to move out within 2-5 years, and if you’ve never looked for an apartment let me tell you first hand how difficult it is. If you have 1,2,3 children, a pet, or a large family that likes to visit, your better off buying a LOTTO ticket.
It is the same chances odds wise.
Yes, the author Jack Hough who wrote the article, and Yahoo for printing it, should both have conferred with any local broker of Real Estate before making this a main story.
*THIS BY FAR, IS THE WORSE STORY EVER PRINTED OR PUBLISHED BY YAHOO, AND PUT ON THEIR SITE!

Discount Calling Rate

du.plex asked:


I read that in the newspaper and write about it because I had the same idea before. If someone can’t pay mortgage rates anymore that person will have to hand the house to the bank. The bank in turn will sell the house at terrific discount because nobody wants to buy that house in the first place (too many are being sold at once). So why not keep the homeowner in the house by offering a rebate of 20% on the mortgage, if house prices fall below some threshold. The house will continue to be lived in and the bank will see at least part of the money. And a lot of steam would be taken off the financial crisis. This plan would only work if it became law. And everybody would be a winner !!

Will this or something similar happen?

Rent A Car Enterprise

Ruben M asked:


With mortgage rates on the rise, is it prudent to pursue ANY type of adjustable rate mortgage (ARM) at this time? Or should home buyers be scrambling to lock in fixed rates?

In a simple world, I’d consider this question to be a slam dunk, until you factor in the various ARM options available on the market (1, 3, 5, 7, 10). The questions is essentially, is it possible to pick an ARM with a front-end period (where the rate stays fixed) that essentially “jumps” over the upcoming rate spike?

Naturally, we’re talking about rational home buyer options, NOT interest-free or 40-year loans.
For the record, the ARM options I was considering were 7/1 and 10/1. Because the first 7 (or 10) years are fixed, I would have assumed both to be a viable option. My thinking was that you’d basically be gambling that rates would be better in 7 or 10 years than they are right now. Is a decade of high rates really a possibility?

Discount Mortgage

John asked:


I am stuck in a situation in which I am upside down on my home and with a new baby on the way I need to buy a bigger home and also take advantage of the low mortgage rates and cheap home prices, therefore I am leaning towards doing a short sale. Only thing is that before I go forward with it I want to know what long term affect with it have on my credit? If any. Thanks.

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