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04-17-2008, 06:47 PM
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Member
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Join Date: Sep 2006
58 posts, read 45,068 times
Reputation: 37
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Yes I have looked into them and they are very costly and the debt keeps rising as you use it as the interest is compounded daily on your debt.
Why are you in the business?
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04-17-2008, 06:55 PM
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Senior Member
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Join Date: Sep 2007
3,123 posts, read 2,780,304 times
Reputation: 393
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Quote:
Originally Posted by LI Gal
Yes I have looked into them and they are very costly and the debt keeps rising as you use it as the interest is compounded daily on your debt.
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They allow seniors to draw upon the increased equity in their property and stay in their family home, if that is their preference. The debt comes due upon the sale of the house or the death of the owner.
Quote:
Originally Posted by LI Gal
Why are you in the business?
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No. |
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04-17-2008, 07:06 PM
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Member
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Join Date: Sep 2006
58 posts, read 45,068 times
Reputation: 37
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i know all about it. I could get half the value of my home and the closing costs are about 18,000. If you have any loans on your home they must be paid off. I could sell my home and get the full value of my home which is quite high but in this market getting a little lower. Have given both much thought believe me!!!!
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04-18-2008, 08:24 AM
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Real Estate Agent
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Join Date: Mar 2008
Location: Huntington, NY
889 posts, read 626,432 times
Reputation: 143
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I'm going to your neighborhood today to do a lease signing  I have to say, it really is gorgeous over there! The couple who are moving in are very happy --they have been looking a long while and this house has everything! Are most of the houses the same? What a fantastic Master bath and walk-in closet! Large property too! |
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04-18-2008, 09:13 AM
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Member
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Join Date: Sep 2006
58 posts, read 45,068 times
Reputation: 37
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They are probably going into one of the newer homes behind the school. I am in one of the older homes up from them. It is a 2400 sq. ft home but does not have that big master bath just a small one with shower, but a huge master with great walk in closet and all the bedrooms are big. Great home for a family.
Why is your friend renting and not buying? THe rent must be very high!
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04-18-2008, 10:16 AM
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Senior Member
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Join Date: Mar 2008
Location: Suffolk
451 posts, read 409,059 times
Reputation: 61
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My friend has a child in the Middle Country SD...her chief complaint is that her daughter is in an "open" classroom. Meaning there are a few classes being taught by different teachers in one big classroom. I wonder how conducive that is for children with attention span problems, or for the teachers for that matter?
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04-18-2008, 11:44 AM
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Real Estate Agent
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Join Date: Mar 2008
Location: Huntington, NY
889 posts, read 626,432 times
Reputation: 143
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Quote:
Originally Posted by LI Gal
They are probably going into one of the newer homes behind the school. I am in one of the older homes up from them. It is a 2400 sq. ft home but does not have that big master bath just a small one with shower, but a huge master with great walk in closet and all the bedrooms are big. Great home for a family.
Why is your friend renting and not buying? THe rent must be very high!
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Rent is $2,200 plus utilities. A lot of people can't buy now...they have low credit scores and can't get mortgages. Rentals will be hot for awhile... |
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04-18-2008, 11:45 AM
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Real Estate Agent
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Join Date: Mar 2008
Location: Huntington, NY
889 posts, read 626,432 times
Reputation: 143
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Quote:
Originally Posted by LI Gal
They are probably going into one of the newer homes behind the school. I am in one of the older homes up from them. It is a 2400 sq. ft home but does not have that big master bath just a small one with shower, but a huge master with great walk in closet and all the bedrooms are big. Great home for a family.
Why is your friend renting and not buying? THe rent must be very high!
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What you can actually do if you own your home outright, is take equity out of it and buy yourself a small condo or something....then rent out your home and have that pay for your new condo and the taxes on your homes. It's probably the smartest thing to do rather than feel stuck in a home....
Just let me know if I can help |
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04-18-2008, 10:24 PM
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Member
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Join Date: Apr 2007
12 posts, read 10,636 times
Reputation: 10
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The "open" class rooms are in one of the schools in Middle Country - the largest one. When you hear of an "open" class room the image that comes to mind is a room as big as a gym with a few teachers. Not so. Picture more of offices with high cubicle walls. You really can't see what is going on over the walls on 3 sides - the fourth side, from all the rooms I have been in is the open area, however this isn't a free space, it's usually where the computer station blocks the next room or something else is there. None of the kids can see over the wall on 3 sides. This may be a little noisier then closed classrooms but IMO it doesn't seem to be any different.
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04-21-2008, 10:52 AM
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Senior Member
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Join Date: Jun 2007
Location: Westbury,NY
1,351 posts, read 959,538 times
Reputation: 221
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Centereach is better north of route 25. I think it's still pretty nice, as long as you aren't near the route 25/Nicholl's rd area.
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