In a message dated 10/6/2001 9:53:12 AM Eastern Daylight Time, Ajhsys@aol.com
writes:
> . I got the mortgage (6.5%) last night. (All I need now is to win
> the lottery! A 30 year mortgage is scary!)
>
Allen:
Yeah it IS scary, especially when you think about all the money you are going
to be in debt. I lost sleep for a few nights after we bought our first
house. But I found out that it all falls into place and it just becomes a
part of the budget. And with every payment you are coming closer to paying
more principal than interest, and contrary to paying rent, you will own the
property outright some day. Pay that 13th payment every year and it is
amazing how much you can cut the number of years it takes to pay it off. And
you are getting a hell of an interest rate. Well worth it!!
--David C.
|