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A comment on Zillow seeks to sell 7k homes for $2.8B after flipping halt. Parent comment

Re:Zillow seeks to sell 7k homes for $2.8B after flipping halt by ajb on Tuesday November 02, 2021 @01:36PM (#29084584)
The answer to this dilemma is to have an offset mortgage. Your savings offset the amount borrowed, and you only pay interest on the difference. Once you've saved enough to cover it, you pay no interest.
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Re:Zillow seeks to sell 7k homes for $2.8B after flipping halt by ineedasername on Tuesday November 02, 2021 @02:15PM (#29085222)
Though something to keep in mind is that offset mortgages are not an option in all locales. The US for example doesn't have them.
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Re:Zillow seeks to sell 7k homes for $2.8B after flipping halt by ajb on Thursday November 04, 2021 @01:08PM (#29109788)
Huh, I just assumed that the US would have any financial instrument that was available elsewhere. I guess the same US statutory intervention into the mortgage market, that makes long fixed-rate mortgages possible, also makes it difficult to have custom mortgage instruments?
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Re:Zillow seeks to sell 7k homes for $2.8B after flipping halt by qorrect on Tuesday November 02, 2021 @01:47PM (#29084787)
Why wouldn't you just buy the house outright at that point ?
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Re:Zillow seeks to sell 7k homes for $2.8B after flipping halt by lostcolony on Tuesday November 02, 2021 @02:04PM (#29085086)
Fiscal cushion. If an emergency comes up, rather than having no money to pay for it, you instead can cover it, and just pay a little extra each month going forward until you recover.

That said, I don't think they exist in the US.

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