Buying or Selling a Home/mortgage


QUESTION: I went to the bank and bought $200,000 house.  The mortgage is 30 years.
I put down payment: $50,000.
The taxes per year is $5000.
monthly payment is $1800.

It seems that I would be paying over $600,000 when I be able to get the house.  It is true that the interest is that much. It sound so ridicule. If I wanted to buy a $200,000 and borrow money, the end payment should be at most $250,000.

ANSWER: Sorry Henry,

Mmy question back to you is "why to you feel that you can use someone elses hard earned money for 30 years and vertially repay nothing?" Money that person or company can't put to better use?  As in when intest rates rise from the false lows we have been at for over 10years now...

You borrow - you pay... don't like the $600,000 pay off in 30 years then pay it off in 3 years...

Taxes have nothing to do with the money you borrowed to your above equation, and 1800 is interest and possible mortgage insurance (if your down is under 20%)

All of this is simple Economics 101... I wish this was being taught in junior high and high school... as a mandatory class... money is not free.. it buys you choice... you don't have to take the loan... you could keep renting and be at -0- in 30 years... nothing for nothing...

Additionally I would assume that the profit you'd make in 30 years you share with the lender any money not used? that is money you make for making the investment... and don't forget the tax deductioins you will enjoy on your full amount of income... many, many, many benefits...

---------- FOLLOW-UP ----------

QUESTION: The problem is that I did not get a full refund. How do I get a full refund back?

ANSWER: Henry a refund of 'what?' from and to who?

---------- FOLLOW-UP ----------

QUESTION: Say you buy a PC, in 15 you get all your money back including taxes.

How come the bank took my house and I do not get a full refund. I should get the price of the house and fixing price plus taxed and the 7 year payment plan.  If I do not get a full refund, I would loose $300,000.  Where is my full refund for a PC right.


??? buy a PC? in 15? money back incl taxes?

I never said that...

What do you mean the 'Bank took my House???

Your questions are all over the place... you need to sit down with a lender or take a class in understand loans and interest and repayments... you are confusing many issues here and my orginial statement is the best I can give you... perhaps remaining a renter is more up your alley... honestly homeownership is not of everyone...

good luck...

Buying or Selling a Home

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Connie Wildasinn-Broker,GRI,CPRES,RealtorŪ


Broker,CPRES,GRI,RealtorŪ, Investor since 1979. Buying or Selling Residential and Income/Investment Properties, How to understand the process, how to negotiate through the transaction, What to Look for - But more importantly 'What to lookout for!', How to tell if the time is right - or hold on and wait. Why "Not to listen to your friends and even your family members", Who really has your best interest at heart?. Understand why any market is a good market and how to spot a good investment for you! If you are looking in California.. check out my website and if you need assistance in a neighborhood I don't service, I will locate a local agent to that area who actually knows their profession and can assist you in your needs!


4th generation Realtor in the real estate business, I have helped for over 2 decades clients buy and sell, I am the owner of a local brokerage in the Los Angeles /Long Beach area, and have been a top producing agent in the area since I became licensed. Working through a deal is different to every client, no two people or deals are exactly the same. Knowing how to bring professional advise to the table with clear and concise understanding of real estate world. I can help you handle your buying, selling and investing, managing a 1031 Exchange, working with Equity Sales,Certified in Probate Sales (one of a handful!), Pre-Foreclosure, Regular and Short Sales there is little that I have not seen come across my desk over the decades!


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Broker-owner, CPRES - Certified Probate Real Estate Specialist, RealtorŪ, GRI,e-Pro, SSG-Short Sale Certified

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Managing Broker for WGroup Realtors 19 years running top selling agent in Long Beach, South Bay area California. Top Producer 11 years straight Re/Max - Lifetime Achievement Award Winner, C21, Realtyworld.

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