Have a mortgage / need a mortgage?

[rsm]

https://www.yahoo.com/news/biden-rule-redistribute-high-risk-211102885.html

 

[70 Mach 1]

this isn't going to end well for this robin hood type pres.

TRUMP

 

[watson503]

Clown World nears its zenith...

 

[Dan Gleesak]

Glad I don’t have a mortgage

 

[Ben Waylin]

I'm completely debt free.

FTW.

 

[jaxadam]

Glad I don’t have a mortgage

Why not? They are incredibly useful.

 

[Dan Gleesak]

Why not? They are incredibly useful.

Better than renting for sure but I own my home outright

 

[Ben Waylin]

Better than renting for sure but I own my home outright

Yep.

And the land it sits on..

 

[jaxadam]

Better than renting for sure but I own my home outright

You’re too young to have paid off one of the easiest and cheapest forms of long term debt…Time to go get some rentals!

 

[Dan Gleesak]

You’re too young to have paid off one of the easiest and cheapest forms of long term debt…Time to go get some rentals!

I’m good at finding debt other ways lol.

 

[jaxadam]

I’m good at finding debt other ways lol.

Here’s an article with some pretty good points. I am also an accredited investor so I have the ability to get into riskier investment strategies.

https://www.fool.com/the-ascent/mor...~:text=Key points,though they could pay cash.

 

[Dan Gleesak]

Here’s an article with some pretty good points. I am also an accredited investor so I have the ability to get into riskier investment strategies.

https://www.fool.com/the-ascent/mor...~:text=Key points,though they could pay cash.

I’ll probably rent down the road. We have a few family houses in this area that will be left to me so that’s my retirement plan lol.

 

[jaxadam]

I’ll probably rent down the road. We have a few family houses in this area that will be left to me so that’s my retirement plan lol.

Very good plan.

 

[Dan Gleesak]

Very good plan.

I do have other plans lol. Right now I’m just chillin though. Until all my kids are old enough to go to school, my wife stays home so I’m just paying bills for a bit and not making any moves. If she goes back to work I can get a little more creative

 

[jaxadam]

I do have other plans lol. Right now I’m just chillin though. Until all my kids are old enough to go to school, my wife stays home so I’m just paying bills for a bit and not making any moves. If she goes back to work I can get a little more creative

No man I really do think that is a solid plan. Being debt free with a fixed income has a finality to it, whereas generating rental income with property valuation increases (historically) can build long-term passive streams with considerable real property value. Basically someone else is buying your house(s) AND putting money in your pocket.

 

[liyaniuh]

Thanks for sharing that info, mate. It looks like there's a new federal rule in place that might affect borrowing for homes. It's aiming to redistribute high-risk loan costs to homeowners with good credit. That means those with high credit scores might face higher expenses to help subsidize loans for higher-risk borrowers. It's always important to stay informed about changes in the mortgage landscape. If you have any questions or need guidance on navigating these new rules, don't hesitate to reach out to a Mortgage Broker in Ipswich. They're pros at helping folks find the best mortgage options.

 

[JackBootedThug]

no mortgage here. spent a big chunk of my retirement so my oldest son and grandchildren have a home and no mortgage. that's why I can't buy these fuckin killer mesa's that have been posted on here.

 

[psychodave]

Here’s an article with some pretty good points. I am also an accredited investor so I have the ability to get into riskier investment strategies.

https://www.fool.com/the-ascent/mor...~:text=Key points,though they could pay cash.

I fall into the accredited investor category, but no way do I want the risk. I’m fiscally conservative. Simply speaking, I find it’s much better to create passive income through rental properties vs investing in riskier investments, private placements, etc. It’s also difficult to get approval for riskier investments due to having to pre-clear any investment through my employer. I’m constantly denied simple stocks, so riskier stuff would be a challenge.

 

[Strandberg Junkie]

Very good plan.

My daughter and her husband own 3 homes they rent out for that very reason.

 

[Ben Waylin]

Thanks for sharing that info, mate. It looks like there's a new federal rule in place that might affect borrowing for homes. It's aiming to redistribute high-risk loan costs to homeowners with good credit.

Excellent first post.