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Is Taking a Mortgage the WORST Decision Ever??
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lochaz-index
#411 Posted : Sunday, December 21, 2014 6:46:32 PM
Rank: Veteran

Joined: 9/18/2014
Posts: 1,127
Upto and until when the mortgage interest rates are either equal to or lower than the rental yields(8-12%) will mortgages make economic sense. As it stands mortgages are for guys with lazy investment minds.
The main purpose of the stock market is to make fools of as many people as possible.
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Kalameni
#412 Posted : Sunday, December 21, 2014 8:59:21 PM
Rank: New-farer

Joined: 9/20/2010
Posts: 80
debt trap indeed for coop fellows.
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digitek1
#413 Posted : Monday, December 22, 2014 8:11:09 AM
Rank: Veteran

Joined: 2/3/2010
Posts: 1,797
Location: Kenya
Those who say dont know and those who know dont say
I may be wrong..but then I could be right
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Am
#414 Posted : Tuesday, December 23, 2014 12:59:40 PM
Rank: Veteran

Joined: 2/21/2012
Posts: 1,739
Shocking we have people in support of Mortgage this day. It Puzzles!! Pray Pray
Do not be anxious about anything, but in everything, by prayer and petition, with thanksgiving, present your requests to God..
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Othelo
#415 Posted : Tuesday, December 23, 2014 1:06:20 PM
Rank: User

Joined: 1/20/2014
Posts: 3,528
Do what is best for you. My mortgage has worked for me and i am not regretting!!!
Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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XSK
#416 Posted : Tuesday, December 23, 2014 2:32:24 PM
Rank: Veteran

Joined: 12/8/2009
Posts: 975
Location: Nairobi
Am wrote:
Shocking we have people in support of Mortgage this day. It Puzzles!! Pray Pray
@Am You still think that in such matters there's an absolute right way and the wrong way?
You will know that you have arrived when money and time are not mutually exclusive "events" in you life!
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Mukiri
#417 Posted : Wednesday, December 24, 2014 8:38:43 AM
Rank: Elder

Joined: 7/11/2012
Posts: 5,222
Boris Boyka wrote:
obiero wrote:
Othelo wrote:
Take the simple scenario currently playing at Coop. Two employees earning same salary, one with loans and the other without. Who is the biggest beneficary if both are retreched?
Ofcourse. The one without is far better off. Debt is from the devil
Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Applause Applause Debt is from Devil,Loans from Lucifer. Gains from God,Returns from Rabii. i don't know where Tax came from especially CGT ....
Caesar! Give unto Caesar what belongs to Caesar. Given the two scenarios above, I'd say the one with loan IF HE IS WISE! Supposing the loan is a mortgage, he can sell off the house, pay off his mortgage and will be left with something.... as opposed to the one without a loan, who has nothing. Even better is, there is a 40% rebate. If the 'handshake' is sufficient enough to repay the 60%, the fellow has a house at much reduced costs!
Proverbs 19:21
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JKN
#418 Posted : Wednesday, December 24, 2014 11:27:43 AM
Rank: Hello

Joined: 12/18/2014
Posts: 5
Exactly my point Bwana Mukiri. Plus majority of the 160 guys have worked 10 to 15 years. The wise ones who took mortgages have properties that have increased in value more than 100% and they used Coop money to get there. The unwise have wasted a lot of money on rent and can't claim a thing from their landlords. If the wise were to sell their property they have money to reorganise themselves and may not need to seek employments again. Happy Holidays and Blessed 2015.
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Mukiri
#419 Posted : Wednesday, December 24, 2014 11:43:32 AM
Rank: Elder

Joined: 7/11/2012
Posts: 5,222
JKN wrote:
Exactly my point Bwana Mukiri. Plus majority of the 160 guys have worked 10 to 15 years. The wise ones who took mortgages have properties that have increased in value more than 100% and they used Coop money to get there. The unwise have wasted a lot of money on rent and can't claim a thing from their landlords. If the wise were to sell their property they have money to reorganise themselves and may not need to seek employments again. Happy Holidays and Blessed 2015.
A Merry Christmas and Happy and Prosperous New year to you too. Let us hope that we'll all be more braver and/or wiser, in the coming year.
Proverbs 19:21
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young farmer
#420 Posted : Sunday, December 28, 2014 12:47:20 AM
Rank: New-farer

Joined: 9/25/2012
Posts: 58
Location: kenia
Mortgages=Debt Till Death! Time To Re-Think :( :(
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