[quote=no_such_reality][quote=bearishgurl]I’m just curious how sd gal obtained $110K in two years since her SS yet she managed to stiff her lender by how much at closing?
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Kudos to her. She was either smart enough not to impoverish herself with a bad loan or she can save enough that she’s piled $100K in a couple years.
Frankly, more people should play hardball with the banks and force them to foreclose. The loans are bad for them, the borrower. The borrowers never should have taken those loans and the banks never should have made them.
You should repay the loans you take, but frankly, the loans border on unconscionable. The refi’s to ‘save’ them are even more unconscionable taking a far greater share of their income to maintain than equivalent housing will cost them.
Debt is evil. In can be used smartly but borrowing money should never be easy because debt enslaves you.[/quote]
Agree, if sd gal’s purchase was just an unwise one at the wrong time and her SS was shorting “purchase money” mtg(s). But if taking “cash out” on her part in any way, shape or form was a direct causation of her SS, then she already took her “equity” (and perhaps much more). In this case, she made her own bed and should lie in it.
