US equity release for UK investment
Jan 4th 2006, 5:16 pm
#76
Septicity
Joined: May 2004
Posts: 23,762
Re: US equity release for UK investment
Originally Posted by rushman
Nope!! I'd just grease it inside and out first.
I just noticed the little hole that the poop comes out of.....now why am i thinking of cake decorating?
I just noticed the little hole that the poop comes out of.....now why am i thinking of cake decorating?
I'm still trying to work out how to hide it when out and about.
Still, that's your problem.
Elvira can hold the key -- I believe she knows about these sort of things.
Jan 4th 2006, 5:17 pm
#77
Back where I belong!
Joined: Aug 2005
Location: Melbourne, Oz to Banbury, England to El Mirage, AZ & now back to England!
Posts: 5,989
Re: US equity release for UK investment
Originally Posted by fatbrit
This should stop you...
Jan 4th 2006, 5:18 pm
#78
Powder Maggot
Joined: Nov 2004
Location: Nuevo Mexico
Posts: 4,452
Re: US equity release for UK investment
Originally Posted by rushman
Nope!! I'd just grease it inside and out first.
I just noticed the little hole that the poop comes out of.....now why am i thinking of cake decorating?
I just noticed the little hole that the poop comes out of.....now why am i thinking of cake decorating?
Jan 4th 2006, 5:20 pm
#79
Septicity
Joined: May 2004
Posts: 23,762
Re: US equity release for UK investment
Originally Posted by Partystar
David, have you been snooping in my hubby's closet again?!?!
Those girlie ones are too cramping.
Jan 4th 2006, 5:23 pm
#80
Account Closed
Joined: Aug 2004
Posts: 22,220
Re: US equity release for UK investment
Originally Posted by fatbrit
I'm still trying to work out how to hide it when out and about.
Jan 4th 2006, 5:25 pm
#81
Back where I belong!
Joined: Aug 2005
Location: Melbourne, Oz to Banbury, England to El Mirage, AZ & now back to England!
Posts: 5,989
Re: US equity release for UK investment
Originally Posted by fatbrit
Just wanted to borrow those tights with the extra gusset room from him.
Those girlie ones are too cramping.
Those girlie ones are too cramping.
Jan 4th 2006, 5:26 pm
#82
Back where I belong!
Joined: Aug 2005
Location: Melbourne, Oz to Banbury, England to El Mirage, AZ & now back to England!
Posts: 5,989
Re: US equity release for UK investment
Originally Posted by rushman
Yeah, its not like you can tuck it under your belt till it eases off is it?
Jan 4th 2006, 5:29 pm
#83
Septicity
Joined: May 2004
Posts: 23,762
Re: US equity release for UK investment
Originally Posted by Partystar
I knew there was a reason why men like to wear belts!!!
Oh gawd! Rushman's let our little secret out now.
Jan 5th 2006, 2:29 am
#84
BE Forum Addict
Joined: Aug 2004
Posts: 4,754
Re: US equity release for UK investment
Originally Posted by fatbrit
The great thing about the US is the sheer number of products. I might be inclined to agree with you about taking a loan beyond your means for a depreciating asset such as a car (as many do) just to keep up with the Joneses, but real estate is a different kettle of fish.
For example, if Partystar had taken an interest-only loan 5 years ago (as she wish she had) on a 4-bedroom property in metropolitan Phoenix, she would have probably made 150k or so by now, enough to buy a new property outright say she were to relocate to Kansas. If she had played safe and had a 15 or 30 amortized, she might have had enough extra equity at closing to buy a widescreen plasma TV as well for the new house in Kansas, but she might also have starved for the last 5 years to make the payments. Was it worth paying the principal, too? Probably not.
Don't agree that a short-term loan is a necessary pre-requisite for interest only, either. For example, here in Phoenix rental prices have remained pretty static over a period when property prices have risen rapidly. If I were, for example, anxious to get into the rental market since I predict rising rents will now follow, I might be tempted to take a long-term interest-only loan solely so I could finance the purchase from the income right from the beginning and not use my capital. Later, when rents surely rise, I could, among other options, choose to pay off the principal with the increased income.
For example, if Partystar had taken an interest-only loan 5 years ago (as she wish she had) on a 4-bedroom property in metropolitan Phoenix, she would have probably made 150k or so by now, enough to buy a new property outright say she were to relocate to Kansas. If she had played safe and had a 15 or 30 amortized, she might have had enough extra equity at closing to buy a widescreen plasma TV as well for the new house in Kansas, but she might also have starved for the last 5 years to make the payments. Was it worth paying the principal, too? Probably not.
Don't agree that a short-term loan is a necessary pre-requisite for interest only, either. For example, here in Phoenix rental prices have remained pretty static over a period when property prices have risen rapidly. If I were, for example, anxious to get into the rental market since I predict rising rents will now follow, I might be tempted to take a long-term interest-only loan solely so I could finance the purchase from the income right from the beginning and not use my capital. Later, when rents surely rise, I could, among other options, choose to pay off the principal with the increased income.
We have two very different attitudes to mortgages and investments. It just shows that financial matters are highly personal. Also the US is not a uniform market and strategies will vary in different regions. Taking an interest only loan on a house in the NE in the late 80's would have been a disaster as that was just before the housing market tanked. Bottomline is that most investors aren't sophisticated enough to be aware of the possible pitfalls of interest only loans and they are contributing to the growing numbers of forclosures and bankruptcies in the US.
Jan 5th 2006, 2:45 am
#85
Homebody
Thread Starter
Joined: Jan 2005
Location: HOME
Posts: 23,182
Re: US equity release for UK investment
Originally Posted by fatbrit
Oh gawd! Rushman's let our little secret out now.
Honestly, you make a right pair!
I'm afraid I fell asleep in front of the fireplace, listening to Verdi...
Bear in mind that, a few months from now, some innocent punter is going to do a search for 'equity release' or 'US investment', and will end up scratching his head over your saucy banter!
Jan 5th 2006, 2:51 am
#86
Septicity
Joined: May 2004
Posts: 23,762
Re: US equity release for UK investment
Originally Posted by Elvira
Bear in mind that, a few months from now, some innocent punter is going to do a search for 'equity release' or 'US investment', and will end up scratching his head over your saucy banter!
Jan 5th 2006, 2:58 am
#87
Mr. Grumpy
Joined: Jun 2003
Location: Nashville, TN
Posts: 3,100
Re: US equity release for UK investment
Originally Posted by nun
Taking an interest only loan on a house in the NE in the late 80's would have been a disaster as that was just before the housing market tanked.
Bottomline is that most investors aren't sophisticated enough to be aware of the possible pitfalls of interest only loans and they are contributing to the growing numbers of forclosures and bankruptcies in the US.
Bottomline is that most investors aren't sophisticated enough to be aware of the possible pitfalls of interest only loans and they are contributing to the growing numbers of forclosures and bankruptcies in the US.
'would have been a disaster' how would this have been different if they had been paying $50 a month towards the priniciple on a 30 year fully amortized mortgage? negative equity is taking your money which ever way you look at it
i'm not sure how interest-only loans can contribute to growing number of forclosures and bankrupcies
adjustable rate mortgages
people messing their credit up and experiencing rate-jacking
payday loans
living beyond their means
being retarded and using their home equity like a credit card to help them live beyond their means
all of these contribute, not sure how an interest only loan can help you go bankrupt?
i need you yto further explain your rationale
I do agree that many people get over their heads with things like negative-amortization loans that they don't fully understand and being caught unawares by their mortagge adjusting (that people in the UK seem to deal fine with BTW)
Jan 5th 2006, 3:03 am
#88
Homebody
Thread Starter
Joined: Jan 2005
Location: HOME
Posts: 23,182
Re: US equity release for UK investment
Originally Posted by fatbrit
Which head?
(I thought Head was a make of skis?
)
Jan 5th 2006, 3:09 am
#89
Mr. Grumpy
Joined: Jun 2003
Location: Nashville, TN
Posts: 3,100
Re: US equity release for UK investment
Originally Posted by Elvira
(I thought Head was a make of skis?
)I think its tennis rackets
Jan 5th 2006, 3:10 am
#90
Lost in BE Cyberspace
Joined: Feb 2004
Posts: 14,578
Re: US equity release for UK investment
Originally Posted by BritGuyTN
being retarded and using their home equity like a credit card to help them live beyond their means
Perhaps get them drunk first
