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You can benifit from inflation: INTEREST only, FIXED mortgage
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From : NicholasStevenson
Added: Mar 16, 2009
Your bank will try to talk you out of go "interest only" and "fixing long term" Going "Interest only" reduces your monthly payments which reduces your expenses giving a better chance of making your mortgage payments when things get tough. "Fixing long term" We are at very low interest rates now and fixing your mortgage now is a great hedge against interest rates sky rocketing! (Which I think they will in New Zealand) Inflation hits, and food prices go up 100% So wages have to go up so people can eat. But a $100k mortgage can not go up. If the average wage is $57k and wages go up by 50% per year after five years your mortgage will look small compared to the average income and should be easier to pay off when we come out the other side of this depression.
Category : Nonprofit
Added: Mar 16, 2009
Your bank will try to talk you out of go "interest only" and "fixing long term" Going "Interest only" reduces your monthly payments which reduces your expenses giving a better chance of making your mortgage payments when things get tough. "Fixing long term" We are at very low interest rates now and fixing your mortgage now is a great hedge against interest rates sky rocketing! (Which I think they will in New Zealand) Inflation hits, and food prices go up 100% So wages have to go up so people can eat. But a $100k mortgage can not go up. If the average wage is $57k and wages go up by 50% per year after five years your mortgage will look small compared to the average income and should be easier to pay off when we come out the other side of this depression.
Category : Nonprofit
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