From: "John A. Weeks III" 
Newsgroups: misc.consumers.house
Subject: Re: Have Interest Only -- Should I Refinance to 30 year Fixed?
Date: Tue, 20 Sep 2005 10:53:44 -0500

In article ,
 "daslf"  wrote:

> "v"  wrote in message 
> news:42dd3893.1494051@news.verizon.net...
> 
> >
> > If OTOH the property is your home that you plan to live in, pay it
> > off.  Pay principal.
> >
> 
> 
> Why would you do this if you are making a higher rate with your money than 
> you are paying on your loan?  It seems like you would want to borrow as much 
> as possible (everything else being equal). 

On the other hand, as interest only, you are basically a renter.
Why not purchase the home instead of renting the money?  If you
are borrowed up to your eyebrows, anything bad that happens means
that this whole house of cards falls down, and you lose everything.

-john-

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John A. Weeks III           952-432-2708            john@johnweeks.com
Newave Communications                         http://www.johnweeks.com
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