Apple Inc (AAPL)

[Thorserb2]

Ended up ok with the 200's, if I wasn't greedy I would have done a lot better. But to respond to your statement, an 80/20 would take care of PMI but above and beyond that, why didn't these interest only clients take a 10 year locked interest only. My whole point was that the mortgage and investment industry game has changed.

Most people need the tax deduction from their mortgage interest. When you pay down the house, you continuously lose your int. ded. But beyond that, if you had 2 people, one who paid int only with nothing down and the other who consistently paid down interest, both homes appreciate at the same rate (all things being the same). All home equity grows at a ZERO % growth rate. Why would I put money into something I'm guaranteed not to make anything and in fact lose purchasing power, when I could even put that difference into a CD or even invest in the markets? My house appreciates regardless of the amount of my equity.

Goes back to my original statement, people went to mortgage brokers for financial planning advice. I wouldn't go to a car mechanic for advice about apple computers, I come to you guys.