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Is Taking a Mortgage the WORST Decision Ever??
Angelica _ann
#441 Posted : Thursday, January 15, 2015 7:26:17 PM
Rank: Elder

Joined: 12/7/2012
Posts: 11,937
dunkang wrote:
Wendz wrote:
Gordon Gekko wrote:
Toxicity wrote:
Talking of mortgages wifey works in a bank and there is talk of her taking the mortgage as I help finance 6% rate..I am of opinion she takes a normal loan and buy land plus my savings and construct..Opinions?

Are you ready to live in wifey's house? The married among us know the import of this question.


mmmmh. Happened to a neighbor..... wifey became so cocky to an extent of bringing another dude to HER house!

Disclaimer: All women are not the same.

And @Wendz is supposed to be a lady????

When woman has upper hand, home turf becomes hard stuff for the man. That is the reality of life.
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
whiteowl
#442 Posted : Friday, January 16, 2015 8:09:39 AM
Rank: Veteran

Joined: 4/16/2014
Posts: 1,420
Location: Bohemian Grove
Gordon Gekko wrote:
Toxicity wrote:
Talking of mortgages wifey works in a bank and there is talk of her taking the mortgage as I help finance 6% rate..I am of opinion she takes a normal loan and buy land plus my savings and construct..Opinions?

Are you ready to live in wifey's house? The married among us know the import of this question.

Answering that question is as important as calculating repayment options of the financing options available
Jitahidi
#443 Posted : Friday, January 16, 2015 8:44:33 AM
Rank: Member

Joined: 5/8/2008
Posts: 288
" Disclaimer: All women are not the same. " Saw a bus written this at the back "Filisika ujue tabia ya mkeo"
Wendz
#444 Posted : Friday, January 16, 2015 9:33:35 AM
Rank: Elder

Joined: 6/19/2008
Posts: 4,268
dunkang wrote:
Wendz wrote:
Gordon Gekko wrote:
Toxicity wrote:
Talking of mortgages wifey works in a bank and there is talk of her taking the mortgage as I help finance 6% rate..I am of opinion she takes a normal loan and buy land plus my savings and construct..Opinions?

Are you ready to live in wifey's house? The married among us know the import of this question.


mmmmh. Happened to a neighbor..... wifey became so cocky to an extent of bringing another dude to HER house!

Disclaimer: All women are not the same.

And @Wendz is supposed to be a lady????


I stated a fact. At least I am honest enough to admit that these things do happen. I don't have to defend or bury the wrong just because I am a lady and it's committed by my fellow fair member, now do I?
iris
#445 Posted : Friday, January 16, 2015 10:26:00 AM
Rank: Member

Joined: 9/11/2014
Posts: 228
Location: Nairobi
Wendz wrote:
dunkang wrote:
Wendz wrote:
Gordon Gekko wrote:
Toxicity wrote:
Talking of mortgages wifey works in a bank and there is talk of her taking the mortgage as I help finance 6% rate..I am of opinion she takes a normal loan and buy land plus my savings and construct..Opinions?

Are you ready to live in wifey's house? The married among us know the import of this question.


mmmmh. Happened to a neighbor..... wifey became so cocky to an extent of bringing another dude to HER house!

Disclaimer: All women are not the same.

And @Wendz is supposed to be a lady????


I stated a fact. At least I am honest enough to admit that these things do happen. I don't have to defend or bury the wrong just because I am a lady and it's committed by my fellow fair member, now do I?


In keeping with the spirit of fairness, let me also add that more than a few 'wifeys' suffer for lack of choice because they live in hubby's houses. So may be 'cocky' is just whoever holds the upper hand, not necessarily women.
Disclaimer paraphrased: All women and men are not the same.
Othelo
#446 Posted : Monday, February 09, 2015 11:23:15 AM
Rank: User

Joined: 1/20/2014
Posts: 3,528
http://www.businessdaily.../-/952pqsz/-/index.html
Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
MaichBlack
#447 Posted : Monday, February 09, 2015 11:38:22 AM
Rank: Elder

Joined: 7/22/2009
Posts: 7,910
Othelo wrote:
http://www.businessdailyafrica.com/Corporate-News/UBA-Bank-puts-6-Kileleshwa-plots-up-for-sale/-/539550/2617248/-/952pqsz/-/index.html >

Habari ndiyo hiyo. You end up far much worse than you were when you started.

Same thing is happening to the Matiba family!!!

If wealthy (not rich but wealthy) individuals and institutions can be screwed over like this, who do you think you are?
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
Lolest!
#448 Posted : Monday, February 09, 2015 12:01:08 PM
Rank: Elder

Joined: 3/18/2011
Posts: 12,069
Location: Kianjokoma
MaichBlack wrote:
Othelo wrote:
http://www.businessdailyafrica.com/Corporate-News/UBA-Bank-puts-6-Kileleshwa-plots-up-for-sale/-/539550/2617248/-/952pqsz/-/index.html >

Habari ndiyo hiyo. You end up far much worse than you were when you started.

Same thing is happening to the Matiba family!!!

If wealthy (not rich but wealthy) individuals and institutions can be screwed over like this, who do you think you are?

Link is about normal loans for projects, not mortgages. Or are you now against bank financing?
Laughing out loudly smile Applause d'oh! Sad Drool Liar Shame on you Pray
MaichBlack
#449 Posted : Monday, February 09, 2015 12:06:05 PM
Rank: Elder

Joined: 7/22/2009
Posts: 7,910
Gordon Gekko wrote:
Toxicity wrote:
Talking of mortgages wifey works in a bank and there is talk of her taking the mortgage as I help finance 6% rate..I am of opinion she takes a normal loan and buy land plus my savings and construct..Opinions?

Are you ready to live in wifey's house? The married among us know the import of this question.

No man should live in his wife's house if he has an option!!!

This might sound sexist but the truth is not always pretty! No need to sugar coat.

Normal statements like "Why are you getting into MY HOUSE with dusty shoes?" will take a totally new meaning when the house is actually hers. Some wives always ask such kind of questions even when YOU own the house or pay the rent and as a result you don't dissect the question. But when the house is hers the weight of such questions would go through the roof! Even if she didn't mean much by the statement.

And then there are those who will want to run the show now that they own the house. I was having a conversation who was explaining how they built their house and she was structuring the sentences to leave no doubt that she is the one who bought the plot, took a loan to build and is the one who services the loan! All those details were not adding any value to the conversation but she had to put them in there! I felt sorry for the hubby! Ni kama kutolewa nguo kwa soko!!!

Another fellow built a dream house on his wife's plot. Believe it or not, the fellow was recently thrown out. A man with fully grown children thrown out of his house just because the name on the plot's title deed is his wife's. The wife has proof of ownership of the plot. The husband has no proof he is the one who financed the building of the house 100%!!! And given that they build the house long time ago, the cost of the plot must have been negligible compared to the cost of construction. The hubby could have easily bought another plot in the same neighbourhood and put up a house in his OWN plot.

Love blinds people. It is romantic to be in a relationship 110% without any boundaries whatsover but when the sh!t hits the fan, you will be in deep trouble. Look at Moi's son, look at Gichuru (Formerly of Kenya Power), Muthama, Alfie Mutua etc. etc. The problem is the hat we the ha think this crap can only happen to OTHER people. Jipange!!!
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
MaichBlack
#450 Posted : Monday, February 09, 2015 12:13:48 PM
Rank: Elder

Joined: 7/22/2009
Posts: 7,910
Lolest! wrote:
MaichBlack wrote:
Othelo wrote:
http://www.businessdailyafrica.com/Corporate-News/UBA-Bank-puts-6-Kileleshwa-plots-up-for-sale/-/539550/2617248/-/952pqsz/-/index.html >

Habari ndiyo hiyo. You end up far much worse than you were when you started.

Same thing is happening to the Matiba family!!!

If wealthy (not rich but wealthy) individuals and institutions can be screwed over like this, who do you think you are?

Link is about normal loans for projects, not mortgages. Or are you now against bank financing?

No. Not at all. I am not even against mortgages per se. I have a problem with the level of INTEREST RATES vis a vis other opportunities I would put my money in. The question has always been "Is it worth it? Would I be better of if I deployed my money elsewhere?"

I could for example take a 6% mortgage if one was availed to me. But 14% I wouldn't touch!!!
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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