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princessa: "The average, non-savvy, non-financially oriented consumer" frankly has been doing pretty well. See, they were too stupid to know years ago when house prices were too high. They bought just because they felt it was a better place to live than an apartment, and they had heard that...

Martin Gale: First, maintenance and repairs. There seems to be some discrepancy between your numbers and numbers I see and use every day. Obviously cost to carpet, paint, and roof a house depend on the size. But over the last 3 decades of rehabbing and renting out houses and small income...

In my area you can't rent a $400K house for $1500, nor can a guy in the 15% tax bracket afford a $400K house, or even have the $25K down payment. OldTrader

OK, just thought I'd update the rent vs buy numbers. Unfortunately, I'm going to speak about this more generally for reasons that I'll go into in a minute. But before I do, let me just say that there is little reason for me to produce a rent vs buy type of situation. These are all over the...

I'd love to see even a shred of proof of a lender that does what you claim. PM the information to me...I'll be looking forward to checking it out. What, is this some type of secret info that has to be PM'd?:D OldTrader

No need for a PM. Simply post ANY link to any type of nationwide lender with a clause of the type that you suggest. The problem here is that you're making a public post with erroneous information. You either need to provide some type of evidence for your claim, or admit that you spoke...

Most of the large nationwide lenders (to include Bank America) also do subprime loans. Note: NONE of them have provisions in their loans of the type you describe. OldTrader Edit: They may do these through subsidiaries.

No, it is not written into the mortgage either. You're completely wrong. Not at any of the nationwide mortgage companies or FNMA document type loans. But if you insist on continuing on with this claim, please provide a link to a source that shows this. OldTrader

You must have overlooked this entire post, so I'm re-posting it here: Here's your original quote. Note the "banks usually require...". Now, when you say "banks", I take this to mean the nationwide banks and mortgage companies like Citigroup, Countrywide (who I believe is the largest mortgage...

Oops...sorry to duplicate your post....I guess we posted at the same time. OldTrader

From your post on page 8: Completely wrong. You're wrong on the rent vs buy numbers as well. I'll put that together later on when I've got some time. OldTrader

Again, here is my statement concerning PMI Now where in that statement do you get "everyone pays PMI"? Sheesh. You definitely cannot read. Please re-read this quote several times before you make any further comments you idiot. VA loans don't have PMI. They do have a "VA Funding Fee"...

Here's your original quote. Note the "banks usually require...". Now, when you say "banks", I take this to mean the nationwide banks and mortgage companies like Citigroup, Countrywide (who I believe is the largest mortgage lender in the country), etc etc. I don't take this to mean some rinky...

Let me quote from my post: Now let me go through an explanation for those of you who are incapable of reading the English language. If the mortgage EXCEEDS 80% LTV, that means the borrower put less than 20% down. Therefore, PMI would be required. On the other hand, if the mortgage is LESS...

You're right. No loan is ever called as long as you make timely payments. Loans can only be foreclosed in accordance with laws in the state where it is located. PMI is the insurance a lender has (paid for by the borrower) insuring that portion of the mortgage that exceeds 80% LTV. In...

Completely incorrect. The terms of an existing mortgage cannot be rewritten, regardless of what the underlying security does or does not do. You are NEVER required to "pay up and get the ratio back in line" on an existing mortgage. By the way, I lived in Orange County in 1992. I bought...

That's quite an "assumption" you made...you just happen to have $515,000 available for investment!:D Why don't we "assume" the more normal case, ie the guy has very little. According to Martin, the total cost of this house is $667,812 over 30 years, or $1855 per month. Looks to me like...

Let's see now: If I buy I make a profit of $445703. If I rent the same house for say $1500 per month, increasing 5% per annum for the next 30 years, I spend approximately $1,195,869. No tax deduction! OldTrader

The way I always thought of this is that the interest payments are tax deductible. The "tax shelter" comes in when you sell. Currently married tax payers pay no tax up to $500K in gains after two years. That would be tax shelter wouldn't it?:) OldTrader

You select a ticker by clicking on it. Then hit "ctrl-alt-U" (hit then simultaneously). A box comes up that gives you the directory. On mine it is C:\JTS\dhlkfgn\ OldTrader