Elizabeth City Topics: Show me the money

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	Name:	roswellric -
	Subject:	Show me the money
	Date:	5/11/2005 8:55:22 AM

Seems to me that the payment of $400 over 30 years (the life of a mortgage) would support an equivalent of about $75,000 of lot value if you financed the lot rolled up into the mortgage.

But the topper is that the future value of the front end money of say $10,000 over a 30 year period would be about another $70,000 so now we are near $150,000 total.

And at the end of the 30 year period if the power co sold the lot to you for $??? then what?

What a sweet deal for the Power Company.