Monthly Mortgage Payment

[ErraBook_monagadu]

It doesn’t matter as long as you live in the house and don’t sell, ani cheppe vallu okkasari ravalamma, 

 

[Sonu_Patel]

29 minutes ago, ErraBook_monagadu said:

People purchased $1.4M last year at 6.5% interest rate.

if they try to sell now, no buyers even $1M.

you keep it, pay $9k monthly payment on a house that would otherwise rent for $3200. After 30 years, total payments $3.5million, to own a house that would be worth less than $1M.

 

great financial knowledge anna.. but papam ah 1.4 Mil petinoluu re-sale chesthey.. it will be a great loss. 

[VanceChilukuri]

45 minutes ago, Sonu_Patel said:

great financial knowledge anna.. but papam ah 1.4 Mil petinoluu re-sale chesthey.. it will be a great loss. 

that's not true everywhere....in WA state, a 1.4M home will sell for 1.8M

[ErraBook_monagadu]

2 hours ago, Sonu_Patel said:

great financial knowledge anna.. but papam ah 1.4 Mil petinoluu re-sale chesthey.. it will be a great loss. 

Resale is loss, but if you don’t sell it will be disaster. Home value keeps falling but payments are $9k per month, end up paying total $3.5 mil for a pos.