Mxsmanic wrote:
writes:

I have no idea what the interest rate or term is for that loan is nor
do I care.

Then your entire original argument is invalidated.

No child, the only thing that happens is the 28 year term goes
to some other number of years.

Even if the payment is off it doesn't change the point that if
one were to suddenly receive $1M, one can finance a house and live
for a long time on the original principal before it goes to zero..

Since you don't know or care about the details, this assertion is pretty much
worthless.

No child, the only thing that happens is the 28 year term goes
to some other number of years.

One can live quite well and for many years on $1M simply by leveraging
the money and a few intelligent investments.

Only a child would blow it all at once.

A lot of people think $1 million is a lot of money--often because they don't
know or care about the details. That's one reason why many lottery winners
are right back in the same boat a few years after winning their prizes: they
spend and spend without caring about the details, and before they know it,
that "unlimited" sum of money is gone.

Yes, there are lots of childish, immature people in the world just like
you that given a large sum of money haven't a clue how to handle it.

I personally know a couple that about 15 years ago inherited about $5M.

Three years later it was all gone spent on parties, chartered trips
to rock concerts around the world and nose candy with nothing of substance
to show for it but a 2 year old van and a drum set.

To this day they whine about the world much like you do.

--
Jim Pennino

Remove .spam.sux to reply.