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Pay mortgage with savings?

  • 12-01-2012 12:46am
    #1
    D1stant
    Registered Users, Registered Users 2 Posts: 1,806 ✭✭✭


    Original question was ere


Comments

  • #2
    El Weirdo
    Registered Users, Registered Users 2 Posts: 11,647 ✭✭✭✭El Weirdo


    D1stant wrote: »
    Mortgage = 3x. Savings = x

    In the light of Euro risk, is it better to pay off 1/3 of mortgage of leave monay as is (presuming interest/savings rate parity)
    After Hours? Seriously?


  • #3
    gigino
    Closed Accounts Posts: 2,350 ✭✭✭gigino


    D1stant wrote: »
    Mortgage = 3x. Savings = x

    In the light of Euro risk, is it better to pay off 1/3 of mortgage of leave monay as is (presuming interest/savings rate parity)

    Put it - your savings - in to dollars or sterling or gold or anything outside the euro. The euro has been slipping for months on world markets. Do you really think the euro will survive because the euro countries are borrowing more + more ?


  • #4
    TeddyTedson
    Registered Users, Registered Users 2 Posts: 10,758 ✭✭✭✭TeddyTedson


    El Weirdo wrote: »
    After Hours? Seriously?
    shut up.
    Spider just caught a fly, repeat, spider just caught a fly.


    Invest in the banks OP. The government will give you back your money if they go bankrupt. Alternatively sell your mortgage to nama and buy it back at a third of the price then you'll own it.


  • #5
    LaFlammeRouge
    Closed Accounts Posts: 177 ✭✭LaFlammeRouge


    gigino wrote: »
    Put it - your savings - in to dollars or sterling or gold or anything outside the euro. The euro has been slipping for months on world markets. Do you really think the euro will survive because the euro countries are borrowing more + more ?

    Gold is overinflated and is really worthless just like paper money. It's only backing is the mad paranoia of the herd on the stock exchange.

    Buy into wheat or oil etc. Something tangible and useful.


  • #6
    MagicSean
    Closed Accounts Posts: 9,897 ✭✭✭MagicSean


    God no. The more debt you have the better off you will be when everything goes belly up.


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  • #7
    mandate
    Closed Accounts Posts: 22 ✭mandate


    if your savings = x, and your mortgage = 3x, then you would have a case for taking your savings and putting them on a horse at 3/1. Thats what most of the banks did with their mortgage loan books, and lost.


  • #8
    bodhrandude
    Registered Users, Registered Users 2 Posts: 12,801 ✭✭✭✭bodhrandude


    MagicSean wrote: »
    God no. The more debt you have the better off you will be when everything goes belly up.

    What would you do if yer name was Synthetic Nonplicity.

    If you want to get into it, you got to get out of it. (Hawkwind 1982)



  • #9
    AngryBollix
    Closed Accounts Posts: 2,536 ✭✭✭AngryBollix


    depends on the circumstances doesnt it


  • #10
    Celly Smunt
    Banned (with Prison Access) Posts: 9,464 ✭✭✭Celly Smunt


    The Euro won't fail.It's too big to fail.


  • #11
    Liam Byrne
    Closed Accounts Posts: 18,163 ✭✭✭✭Liam Byrne


    pmcmahon wrote: »
    The Euro won't fail.It's too big to fail.

    That's the line that FF spouted about Anglo, and all they did was tie it to a rope around our necks.


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  • #12
    IM0
    Closed Accounts Posts: 5,390 ✭✭✭IM0


    the euro wont be collapsing anytime soon :rolleyes:
    its too big to fail, like the US


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