Commodity trading book – Nothing could be more unrealistic.

Furthermore, 50% discount sounds as though you would pay $2,500 for a $5,000 mortgage and thus earn not only the 6% interest in five years which amounts to about $750 in total, but the $2,500 discount also, or $3,250 in a five year period. This yearly interest would appear to be $3,250 divided by five or $650. On an investment of $2,500 the annual return would be 26%, and obviously much more when you consider that your investment is reduced each time a payment is made. Actually the home owner would have to have the balloon balance extended for another 40 months (three-and-a-third years). The interest in total would be about $1,245 and the discount $2,500 ($3,745 spread over eight-and-a-third years), $451 per year, not $650 per year. Banks very often place a limit on the number of years over which they will finance anything but a strong conventional first mortgage.

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[tags]Commodity Trading Book[/tags]