Homeowners' Headache | ** An Anonymous Journal **

Friday, October 26, 2007

Homeowners' Headache

Have you heard that interest rates have risen AGAIN? This is going to have an impact on homeowners who have a variable interest mortgage. At times like these, I am glad that I am not responsible for any mortgage but at the same time, quite sad that it means that I do not own a house under my name.

I guess I can't have my cake and eat it! I wonder how many lucky people are rich enough to buy their homes with cash without having to take out a mortgage. However, in Malaysia, if someone does that, the IRS will be knocking at their door so people usually will take out a loan even if they have enough money to buy something as expensive as a house in cash.

I am sure you know, my sister committed herself to a thirty year mortgage while some of my friends took out bad credit mortgages just so they could buy their home. It sure sounds scary to me. It's the long term commitment that puts me off from buying my own home. However, I may change my mind one day!

4 comments:

Ashok FELIX said...

Nice posts.......the name's superb....anonymous journal...

Was boring at the beginning, but daily life incidents are a bit hard to miss, ain't they?

Anonymous said...

Hi Ashok,


Thanks for dropping by and commenting! I really appreciate it :-)

Ashok FELIX said...

Hey, it has been my pleasure....no...literally.
I enjoyed it.

Anonymous said...

Aww you're so sweet. I hope you will find my other posts interesting as well.

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