How to get out of a mortgage

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Some people want to get out of mortgage, and this was my solution I bought a 100 years old Row home in a small town in Pennsylvania. Here is more info for you.

Mahanoy City 21st Century Home ownership Program Mahanoy City Borough 239 E. Pine Street Mahanoy City, PA 17048 (570) 773-2150 You could get a home for 15,000-30,000 this is better than paying rent. Good Luck to you, I know that the down payment could be 0-5% This is not a pretty town but is perfect to get out of debt. And who knows maybe more. Ralph.

-- Ralph Roces (rroces1@yahoo.com), March 13, 2002

Answers

Ralph.

As you are well aware, the only way to "get out" of a mortgage is to pay it off, or to assign it to someone else who will pay it off. Actually we are talking about the note that is secured by a mortgage.

In your C-21 COMMERCIAL............

You mention "you could get", I must conclude that you mean BUY, a row house for $15,000 to $30,000. Now if one has $15-$30K in cash then the mortgage is probably not a real problem. I doubt that there are a lot of folks that have up to $30,000 cash that are looking for an apartment (row house), to homestead in. But good LUCK anyway...

If you are looking to sell the "row house" with some sort of other financing then you are talking about "getting out" of the old mortgage obligation be replacing it with another mortgage...Hmm!

-- Ed Copp (OH) (edcopp@yahoo.com), March 13, 2002.


I offered this Idea as an alternative, some folks out there are renting while saving money to get their homestead going, well this is better than renting. This is just an idea, and this is a free country anyways, if you dont like it,you know what? I dont give a dam... hahahahah Ralph.

-- Ralph (rroces1@yahoo.com), March 13, 2002.

Ed, Look past the "C-21" commercial. (Which by the way, I don't agree with either... that could have been done privately should anyone seek more information.) Don't you see Ralph's point? I think he is trying to show that for the same money or less, you could buy as opposed to renting. AND this money could be much less than most people pay for rent - SAVING money. Of course, in the end, you also OWN a piece of real estate and could hopefully get something back out of it - all things considered. Only trouble is, around here it's tough to find a lender to finance a mortgage that small. Maybe they figure most people could put that on their mastercard I guess.

-- Marge (mboyc73@yahoo.com), March 14, 2002.

You know, that doesn't really sound like Ralph's phraseology. He's always been a pretty no-nonsense guy, and I don't remember any vulgarities in his posts????

And the fact that it's "Yahoo" related makes me wonder if someone is plaguarizing his e-addy.

Ralph is that really you?

Just my $.02

-- Michaela (flhomestead@hotmail.com), March 14, 2002.


Ralph's message seemed pretty confusing & poorly written, even his subject title. The ad part I could live without.

The point, if I can find one, that buying a cheap place, building equity, learning about ownership, and so on might get you to your dream quicker than renting an expensive place, is certainly something for people to consider. This is assuming one has access to a 'cheap place'. Where I live, "What's a Row home??????? Don't have nothin' like that widdin 50 miles....."

-- paul (ramblerplm@hotmail.com), March 14, 2002.



I appologized to my friends in the FORUM, yes it was me, I just got very upset, because I am giving a suggestion about to get a cheap housing to get out of a mortgage, and I received terrible e-mail, insulting me, and calling me all kind of names. We really have angry readers out there. Which I think have terrible mortgages and they are very sensitive to the topic. I am sorry and I just got upset, and Clark Gables (when he starred in Gone With the Wind) came to my mind. When he looked at his wife and stated "Sincerly my darling I don't give a Damn" Ralph.

-- Ralph (rroces1@yahoo.com), March 14, 2002.

Ralph, that was Gable as Rhett Butler. Here is the correct quote.

Scarlett O'Hara: Rhett... If you go ... where shall I go? What shall I do?

Rhett Butler: Frankly, my dear, I don't give a damn...

-- Gary in Indiana (gk6854@aol.com), March 14, 2002.


This thread is making me smile at the crankiness of all you folks! Surely I can't be the only one who spots Ralph's efforts to help.

I even went back to re-read the original post and I still can't find anything offensive enough for his post to be attacked as it was!! Lighten up people. Ralph's idea may not be for everyone, but buying as opposed to renting (anything) is MOST ALWAYS beneficial. Just building the credit alone is worth much.

-- Marge (mboyc73@yahoo.com), March 15, 2002.


Ralph, I am glad you found a way that works for you. For myself, I would become severely depressed living in row-housing, so it wouldnt work for me. Please dont worry about the guys giving you a hard time on here... a forum like this attracts all kinds of people. And some of them are real abusers. Dont let them take your peace away. They wouldnt know what to do with it once they took it.

-- daffodyllady (daffodyllady@yahoo.com), March 15, 2002.

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