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Registered
Join Date: Apr 2001
Location: Linn County, Oregon
Posts: 48,834
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Quote:
Originally Posted by sammyg2
Not really relevant to the OP but maybe to some of the comments:
A while back, a friend refinanced his house to buy a new Cadillac SUV ($$$$).
He doesn't have that vehicle any more but I have to bite my tongue to keep from reminding him that in another 20 years it will be paid off 
IMO The only time to take out equity is if it's necessary to save a life, or to keep from looosing the home. |
Bingo! Turning short term debt into long turn debt is never a good idea.
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"Now, to put a water-cooled engine in the rear and to have a radiator in the front, that's not very intelligent."
-Ferry Porsche (PANO, Oct. '73) (I, Paul D. have loved this quote since 1973. It will remain as long as I post here.)
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