Great to be the bank! I wanted to share with my forum members how the banks earn us nonstop ...
Original publication date at the US Real Estate Forum's Facebook arena:
2019-08-28T14:38:42+0000
Great to be the bank!
I wanted to share with my forum members how the banks earn us nonstop through a clearing board / Spitzer.
Example: Loan for 30 Year:
* After a tenth of the period, 2.63% of the fund was paid
* After a quarter of the period, 8.11% of the fund was paid
* After half the delicate period, 77% of the fund remains to be paid !!
Then the bank offers us loan refinancing and starting from scratch?
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To illustrate, a deal I own - as a Spitzer shipper game in my favor:
* 30-year loan after the candy for $ 166,000.00
* 24 payments of $ 1,161 totaling $ 27,881 were received
* The amount of the principal out of debt decreased only by $ 2,895
* My profit as a loan holder is $ 24,986 !!
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Classic Mailbox Money
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Link to the original post at the Real Estate Forum of the United States real estate forum on Facebook - works on a desktop computer:
https://www.facebook.com/711026639303612/posts/840980662974875
The original responses to the post can be read at the bottom of the current post page on the site or in the link to a post on Facebook and of course you are invited to join the discussion
- Hey,
Clearly, banks are big and big ...Didn't quite understand how much money you put into the illustration?
- You haven't discovered America..Spitzer's plate is compound interest...and of course it costs us dearly.
- It is clear that banks are the big gainers. The reason for this is to offset the "lost debts" that the bank will not see from those who did not repay the loan and the house had to be sold at a relatively cheap price.
Responses