Essential Economics for Politicians

messy said:
So there is a 30-year time frame to pay off a HELOC? In that case, yes it’s a better deal than a mortgage. But check your premise...I don’t think there’s a 30-year HELOC.
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Simple interest = HELOC. Amortized interest = mortgage. Now tell me why HELOCS are not 30 years.
 
Bruddah IZ said:
Simple interest = HELOC. Amortized interest = mortgage. Now tell me why HELOCS are not 30 years.
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Because banks don't offer them for that duration.
Do you really think you're the smart guy who recognizes that a short-term, fixed-interest loan is better than a mortgage when buying real estate to hold? That's funny.
 
messy said:
Because banks don't offer them for that duration.
Do you really think you're the smart guy who recognizes that a short-term, fixed-interest loan is better than a mortgage when buying real estate to hold? That's funny.
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It’s so simple that smart guys like you don’t get it. How can a guy that cheer leads appreciation/equity be so ignorant about HELOCS?
 
Bruddah IZ said:
It’s so simple that smart guys like you don’t get it. How can a guy that cheer leads appreciation/equity be so ignorant about HELOCS?
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So I can get a 30-year HELOC on simple interest terms instead of a mortgage? Wow! Done.
You're so smart!
When your acid wears off, show me where I can get such a loan! Or maybe you can't, because there's no such thing?
 
messy said:
So I can get a 30-year HELOC on simple interest terms instead of a mortgage? Wow! Done.
You're so smart!
When your acid wears off, show me where I can get such a loan! Or maybe you can't, because there's no such thing?
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I'm open-minded, though, so if you can sell me a product that gives me a fixed term loan at similar interest and I can replace my amortized loan with that, I will look at it.
The issue remains deductibility.
 
messy said:
I'm open-minded, though, so if you can sell me a product that gives me a fixed term loan at similar interest and I can replace my amortized loan with that, I will look at it.
The issue remains deductibility.
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Nobody that runs a successful business would think or say the things you do. You sir, are a poser. As always.
 
messy said:
So I can get a 30-year HELOC on simple interest terms instead of a mortgage? Wow! Done.
You're so smart!
When your acid wears off, show me where I can get such a loan! Or maybe you can't, because there's no such thing?
Click to expand...
Of course there is no such thing. Who said there was?
 
messy said:
I'm open-minded, though, so if you can sell me a product that gives me a fixed term loan at similar interest and I can replace my amortized loan with that, I will look at it.
The issue remains deductibility.
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Already laid it out for you. Did you even locate where you are on the amortization schedule according to your current balance?
 
Give me your loan amount or any loan amount, interest rate and we’ll assume a 30 year term which is what most have.

Then give me the value of your home via Red Fin, the intro rate for your HELOC or the banks rate if you don’t have a HELOC, and the rate after one year/intro period.

Then sit back and watch a third grader show you why a deduction is much less valuable than interest elimination. It’s in the 10’s of thousands at least.
 
Bruddah IZ said:
Give me your loan amount or any loan amount, interest rate and we’ll assume a 30 year term which is what most have.

Then give me the value of your home via Red Fin, the intro rate for your HELOC or the banks rate if you don’t have a HELOC, and the rate after one year/intro period.

Then sit back and watch a third grader show you why a deduction is much less valuable than interest elimination. It’s in the 10’s of thousands at least.
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Where did "interest elimination" come from?
 
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