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Nesgroup address: alt.real-estate-agents - Date & Time for the message: Sat, 07 May 2005 02:15:18 GMT /

Author of the message: "Tyrone"

Title of the message:
Re: Agent advice

Text of the message:
"homan4" <homan4@cox.net> wrote in message
news:6rIee.744$It1.439@lakeread02...

> It is almost not worth my time explaining this.   In case you haven't
> noticed most people increase their debt via credit cards, then re

finance

> their home to spread the payments.  In my mind this is stupid.  People

who

> exercise restraint on personal discressional spending can live more
> comfortably and increase their equity at a much faster rate if they

trade

> up.
>
> Most people in their first home got in with less than 20% down.  In my

part

> of Florida homes have are increasing by 30 - 40 % per year.  Someone

who

> bought a home 7 years ago - lets say a 53,000 home with a 50,000

mortgage

> has a home worth around 150,000 today with 45,000 in debt.  Their

payment

> most likely includes PMI because the buyer most likely is waiting for

the

> bank to remove it rather than spending the $300 to get it appraised.



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