if my home is paid for, and i take out a mogage loan on it do i qualify for the president stimulus

    0  Views: 257 Answers: 2 Posted: 12 years ago

    2 Answers

    The only help is for those who are in arrears for making their mortgage payments, not for those wanting to get a mortgage. Why would you want to go into debt and put your house in jeopardy?
    The only bigger scam than a mortgage is credit cards; I've got my house paid off, and unless I have cash for another house, I won't buy it. I absolutely will never take out another mortagage again. All you're doing is paying a ridiculous interest rate to the bank. They may tell you it's 4.5% interest, but what they DON'T tell you is that it's ammortized so that all of the interest is charged in the first years of the loan. You don't even START to pay off the principal on a 30-year mortgage until you're 15 years into it, and most people move every 7 years. WHAT A SCAM!

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