"mrtravel" wrote in message
. com...
Miguel Cruz wrote:

Charles Newman e wrote:

Where are you getting mortgage payemnts that cheap?
I thought that the minumum mortgate payment on any
house in the USA would be at last $1000 per month,
or about $12000 a year.


He may not have just purchased the house. Imagine a $100,000 house
purchased
20 years ago.

Imagine one purchased last year when 5 1/2 percent was possible.
A 150,000 loan for a 5.5 percent 30 year mortgage would cost $851.68 per
month. There are many places in the US where you can by a home for
$150K. Consider 1/4 down and the house price would be 200K.

The rates were really crazy this year, if anyone was on their toes, they
were able to scoop up some absolutely rediculously low new or refinance
rates. Too bad the feds can't go any lower! ;-)