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The Round Table
An Odd Way To Buy A New Car
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<blockquote data-quote="RSteve" data-source="post: 562850" data-attributes="member: 164"><p><span style="font-size: 18px">As the car buyer said, with current real estate appreciation in double digits, it's basically a free car. I've always been very cautious with my home; not wanting any risk and it's been a financial mistake. One of my friends insists on constantly pulling the equity out of his house, and investing it at a rate higher than the mortgage interest. Years ago, he inherited his parents' home. He moved into the home and immediately took out the largest mortgage he could get on the house. He invested in mutual funds that were paying 12 to 16% annually. Within a decade he was quite a wealthy man. At 16% annual interest, money doubles at 4.5 years.</span></p></blockquote><p></p>
[QUOTE="RSteve, post: 562850, member: 164"] [SIZE=5]As the car buyer said, with current real estate appreciation in double digits, it's basically a free car. I've always been very cautious with my home; not wanting any risk and it's been a financial mistake. One of my friends insists on constantly pulling the equity out of his house, and investing it at a rate higher than the mortgage interest. Years ago, he inherited his parents' home. He moved into the home and immediately took out the largest mortgage he could get on the house. He invested in mutual funds that were paying 12 to 16% annually. Within a decade he was quite a wealthy man. At 16% annual interest, money doubles at 4.5 years.[/SIZE] [/QUOTE]
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An Odd Way To Buy A New Car
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