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Once again....the mortgage saga continues.

Discussion in 'Money & Finance Forum' started by builder, Jan 31, 2003.

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  1. Jan 31, 2003 at 9:38 PM #11
    Bunky

    Bunky .

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    the value in homoowneship is in the tax breaks you may receive. does something like that apply in new zealand?
     
  2. Jan 31, 2003 at 9:50 PM #12
    Honeygirl

    Honeygirl Frisky Tart

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    I think it might do Bunky - but I'm crap at taxes too. :) We have a high rate of home ownership here though - it's everyone's dream to own their own home - well, everyone's except mine. Maybe one day I'll settle down and buy, but I kinda like the freedom that renting allows. :)
     
  3. Jan 31, 2003 at 10:00 PM #13
    VOR

    VOR OnlyU CanPreventRelection

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    The hurricane andrew house in miami we bought through savings of america, they had no escrow accounts and we had to take care of insurance and taxes ourselves. As it happens we closed the house in november and dade county taxes are due in november so we used to open a christmas club account at the credit union for an amount somewhat larger than the amount of the taxes and insurance. It worked great we got some intrest on the money and a check in november somewhat larger than our tax and insurance bills. But working 10 - 15 hours a day it would normally be too much grief to deal with those things normally.
     
    Last edited: Jan 31, 2003
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