Originally Posted by
Koyote
After buying (and financing, to varying degrees) four houses over the past 25 years, I had NO IDEA that that is how financing works!
Maybe I am old (or just old-fashioned), but if I had to borrow money to buy a new bike, I wouldn't buy it. But then, maybe us old folks were raised to understand something called "deferred gratification."
Why didn't you defer the gratification of living in/owning your own homes until you could "afford" to buy it/them without borrowing money?