southsider2k5 Posted August 11, 2005 Author Share Posted August 11, 2005 (edited) QUOTE(Balta1701 @ Aug 10, 2005 -> 10:50 PM) Please for God's sake tell me you didn't get an interest only mortgage or something insane like that. Fixed rate right now. It's the only sane thing to do with a real estate market the way it is and rates rising for a full year. Oh God no... Fixed rate all of the way. The Fed has just wacked us for 250 Bps in about 6 months, interest rates are about to go way up. I wouldn't touch an ARM or interest only loan to save my life. The only time to ARM is for a temporary house or for high interest rates. And thanks for the kind words all!!! Edited August 11, 2005 by southsider2k5 Quote Link to comment Share on other sites More sharing options...
FlaSoxxJim Posted August 11, 2005 Share Posted August 11, 2005 Congrats! Quote Link to comment Share on other sites More sharing options...
Yoda Posted August 11, 2005 Share Posted August 11, 2005 Congrats, Mike! BTW, is the home located in Michigan City as well? Quote Link to comment Share on other sites More sharing options...
Queen Prawn Posted August 11, 2005 Share Posted August 11, 2005 Congrats! Owning a house kicks ass! Quote Link to comment Share on other sites More sharing options...
southsider2k5 Posted August 11, 2005 Author Share Posted August 11, 2005 QUOTE(Yoda @ Aug 11, 2005 -> 10:01 AM) Congrats, Mike! BTW, is the home located in Michigan City as well? Yeah its actually a block over and 11 blocks up from where I have lived for a lot of my life. Quote Link to comment Share on other sites More sharing options...
Yoda Posted August 11, 2005 Share Posted August 11, 2005 QUOTE(southsider2k5 @ Aug 11, 2005 -> 10:20 AM) Yeah its actually a block over and 11 blocks up from where I have lived for a lot of my life. For a moment I thought you moved out of this boring state. Quote Link to comment Share on other sites More sharing options...
AddisonStSox Posted August 11, 2005 Share Posted August 11, 2005 Gotta ask, Mike: how long does it take you to get to work everyday? Quote Link to comment Share on other sites More sharing options...
DBAHO Posted August 11, 2005 Share Posted August 11, 2005 Congrats on gettin the house Mike. Hope it truly is a happy home for ya. Quote Link to comment Share on other sites More sharing options...
southsider2k5 Posted August 11, 2005 Author Share Posted August 11, 2005 QUOTE(AddisonStSox @ Aug 11, 2005 -> 10:29 AM) Gotta ask, Mike: how long does it take you to get to work everyday? Hour and a half on the train, just less than an hour on the rare occasion when I drive. The nice thing is that the place we just bought would have been at least double the cost in most of the decent Chicago burbs. Quote Link to comment Share on other sites More sharing options...
kapkomet Posted August 11, 2005 Share Posted August 11, 2005 QUOTE(southsider2k5 @ Aug 11, 2005 -> 03:40 PM) Hour and a half on the train, just less than an hour on the rare occasion when I drive. The nice thing is that the place we just bought would have been at least double the cost in most of the decent Chicago burbs. And that to me is the best part of it all. I'm really happy for you *THREE*... Quote Link to comment Share on other sites More sharing options...
The Critic Posted August 11, 2005 Share Posted August 11, 2005 QUOTE(southsider2k5 @ Aug 11, 2005 -> 09:40 AM) Hour and a half on the train, just less than an hour on the rare occasion when I drive. The nice thing is that the place we just bought would have been at least double the cost in most of the decent Chicago burbs. No, the NICE thing is that you'll still be an hour and a half away by train..... Quote Link to comment Share on other sites More sharing options...
southsider2k5 Posted August 11, 2005 Author Share Posted August 11, 2005 QUOTE(The Critic @ Aug 11, 2005 -> 11:01 AM) No, the NICE thing is that you'll still be an hour and a half away by train..... Don't worry, when that restraining order expires, I will be right back in your bushes Quote Link to comment Share on other sites More sharing options...
The Critic Posted August 11, 2005 Share Posted August 11, 2005 QUOTE(southsider2k5 @ Aug 11, 2005 -> 10:05 AM) Don't worry, when that restraining order expires, I will be right back in your bushes Wow, I feel sorry for the dude whose bushes you're hiding in..... ....we don't have bushes..... ( feeling a little safer already ) Quote Link to comment Share on other sites More sharing options...
RockRaines Posted August 11, 2005 Share Posted August 11, 2005 Interest only loans are good for short term housing and serious apprecitating neighborhoods. Its a huge trend downtown where I live because people live there for 2 years and then sell for a much larger sum. Other than that, its a suckers bet. Quote Link to comment Share on other sites More sharing options...
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