Julie Bove > wrote:

: "W. Baker" > wrote in message
: ...
: > Julie Bove > wrote:
: >
: > : "Cheri" > wrote in message
: > : ...
: > : > "Storrmmee" > wrote in message
: > : > ...
: > : >> had we to do it over, we would have rented and banked the difference,
: > : >> that would have really allowed for a lot more travel, Lee
: > : >
: > : > We bought our house late in life, and now I wish we had just kept
: > renting.
: > : > New roofs, and many upgrades aren't cheap, and moving on in retirement
: > : > isn't all that easy with a house to sell, especially in this market.
: > :-)
: >
: > : I don't know where my husband got this idea from but he thought he could
: > buy
: > : a house and make a ton of money by selling it in a few years. Nobody
: > could
: > : talk him out of that notion. I am sick of this house and all of its
: > : problems.
: >
: > That was the idea that tones of peole had and that was encouraged by
: > banks, realtos, etc who then sold houses with trick mortgages tht went way
: > up in interest rates afeter a few years. The assumptin was that the house
: > woul dbe worth so much more that the people who would be unable to pay the
: > high interest rates would be able to sell out at the higher price and do
: > the same thing al oer again.
: >
: > You may not have had the adjustable mortgage, but your husband had the
: > idea that many many people had and that ultimately led to the finanial and
: > housing crash that has led to the terrible current economy. Your husband
: > was far from alone. Many Americans kept taking out money fromtheir houses
: > by refinancing or takign out second mortgages that when the housing prices
: > fell, they were left underwater(house worth less than mortgage).

: There is no way I would get an ARM.
If you read what I said, no one accused you oor your husband of doing
that.

Wendy