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Hypo Loan
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<blockquote data-quote="grd22mgr" data-source="post: 396434" data-attributes="member: 17151"><p>There are alot of benefits for doing a Hypo. </p><p> </p><p>1- I used it for consolidation for high interest debt, specifially car and credit cards.</p><p> </p><p>2 - It helped me buy a new home by allowing me to borrow additional money for a down payment.</p><p> </p><p>3- It also gave me an additional write off on my tax return because my CPA said it is tax friendly, as is mortgage expense.</p><p> </p><p>4- It gave me the additonal write off with a lower interest rate of approx. 3.5% that was below the standard mortgage interest rate at 6%. </p><p> </p><p>5 - I was allowed to keep my A shares; however I chose to convert a portion to B shares to write covered calls in order to bring in additonal income which paid down my hypo loan. </p><p><a href="http://www.morganstanley.com/fa/James.Cravotta" target="_blank">http://www.morganstanley.com/fa/James.Cravotta</a></p></blockquote><p></p>
[QUOTE="grd22mgr, post: 396434, member: 17151"] There are alot of benefits for doing a Hypo. 1- I used it for consolidation for high interest debt, specifially car and credit cards. 2 - It helped me buy a new home by allowing me to borrow additional money for a down payment. 3- It also gave me an additional write off on my tax return because my CPA said it is tax friendly, as is mortgage expense. 4- It gave me the additonal write off with a lower interest rate of approx. 3.5% that was below the standard mortgage interest rate at 6%. 5 - I was allowed to keep my A shares; however I chose to convert a portion to B shares to write covered calls in order to bring in additonal income which paid down my hypo loan. [URL="http://www.morganstanley.com/fa/James.Cravotta"][U][SIZE=2][COLOR=#0000ff][/COLOR][/SIZE][/U][/URL] [/QUOTE]
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