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O/T can it be done
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Posted by old on January 11, 2007 at 10:21:26 from (4.244.6.92):
I have a friend that is selling his place. Now if he gets $100,000 for it can he then put that $100,000 in the bank in a saveing account and make it make the payemnts on a $70,000 loan. I say he will loose his shirit doing so but he says he can do it and keep the $100,000. Last I knew banks only pay out about 50% of what they take in on a loan. Or in other words they will pay you 3% on your money but charge you 6% for intest I'm I right or is he??
Thanks
I told him buy his new place out right then invest whats left over and he would be better off what say you guys?
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