UrbanBaby

06.05.08, 19:00 PM General Topics
5 replies

Do you plan to payoff your mortgage? We own about $500k and have about $400k equity. Not moving, but things are tight, and rather not take on any other debt. Pay for cars cash, save for college, etc. I just don't see us paying it down. Interest only with fixed rate. In 15 years, DH will retire, we will move and whatever equity we, we have. [ Reply | Watch | Flag ]
General Topics 06.05.08, 07:00 PM Flag

Dear UrbanBaby community,

Thank you so much for being a valued member of the UrbanBaby community. We wanted to inform you that we are shutting down the site on July 6th. We are grateful for your participation and support that has helped make UrbanBaby such an important resource to parents for many years.

If you have any questions or concerns, you can email us at urbanbaby-support@cbsinteractive.com.

Thanks so much,

UrbanBaby Support

But you don't build equity in an IO mortgage. [ Reply | More

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General Topics 06.05.08, 07:02 PM Flag

I know. But, we have nearly 50% equity already, plus, despite this market, over the next 15 years we will build more. The alternative is to live in a much less desirable 'hood without less potential appreciation over the years. [ Reply | More

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General Topics 06.05.08, 07:14 PM Flag

we paid ours off a year ago...it's been great. [ Reply | More

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General Topics 06.05.08, 07:11 PM Flag

In a time when property values are declining in some markets, I'm not sure it's good to have more than 20% equity. [ Reply | More

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General Topics 06.05.08, 07:13 PM Flag

you know nothing of personal finance. [ Reply | More

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General Topics 06.05.08, 07:15 PM Flag