FB turned landlord

[La Jolla Renter]

Why do you really need good credit if you like your house and plan to stay there for 5+ years?

In seven years you have your good credit back and over a 100k in savings from not having negative cash flow of 1k a month.

Lots of filthy rich people out there with shitty credit, and lots of poor people with good credit.

I am not promoting any particular course of action for you, just playing a little devils advocate.

If I were in a home I planned on staying in for several years, I would gladly sell my 800 score for a 100k.

[Anonymous]

Self-respect? lmao. Yeah, right. When it comes to losing a huge chunk of money, principles (i.e. self-respect) have a way of taking a back seat.

Tavo, I’m not trying to give you a hard time, so I’ll cease on this subject because I can be annoying at times. I just find it hard to believe that you would continue to take a 1k loss for the foreseeable future and several years beyond that in reverence to your self-respect if there was any way you could use the system and get out of this.

Could you benefit if you put that 1k into an investment that gives you a nice return on your money? Think about you and your family. In the end, self-preservation is going to win out over your so-called “self-respect”. You know it and and I know it. That’s what I meant by “cut the sh*t”.

[Anonymous]

Self-respect? lmao. Yeah, right. When it comes to losing a huge chunk of money, principles (i.e. self-respect) have a way of taking a back seat.

Tavo, I’m not trying to give you a hard time, so I’ll cease on this subject because I can be annoying at times. I just find it hard to believe that you would continue to take a 1k loss for the foreseeable future and several years beyond that in reverence to your self-respect if there was any way you could use the system and get out of this.

Could you benefit if you put that 1k into an investment that gives you a nice return on your money? Think about you and your family. In the end, self-preservation is going to win out over your so-called “self-respect”. You know it and and I know it. That’s what I meant by “cut the sh*t”.

[Anonymous]

Self-respect? lmao. Yeah, right. When it comes to losing a huge chunk of money, principles (i.e. self-respect) have a way of taking a back seat.

Tavo, I’m not trying to give you a hard time, so I’ll cease on this subject because I can be annoying at times. I just find it hard to believe that you would continue to take a 1k loss for the foreseeable future and several years beyond that in reverence to your self-respect if there was any way you could use the system and get out of this.

Could you benefit if you put that 1k into an investment that gives you a nice return on your money? Think about you and your family. In the end, self-preservation is going to win out over your so-called “self-respect”. You know it and and I know it. That’s what I meant by “cut the sh*t”.

[Anonymous]

Self-respect? lmao. Yeah, right. When it comes to losing a huge chunk of money, principles (i.e. self-respect) have a way of taking a back seat.

Tavo, I’m not trying to give you a hard time, so I’ll cease on this subject because I can be annoying at times. I just find it hard to believe that you would continue to take a 1k loss for the foreseeable future and several years beyond that in reverence to your self-respect if there was any way you could use the system and get out of this.

Could you benefit if you put that 1k into an investment that gives you a nice return on your money? Think about you and your family. In the end, self-preservation is going to win out over your so-called “self-respect”. You know it and and I know it. That’s what I meant by “cut the sh*t”.

[Anonymous]

Self-respect? lmao. Yeah, right. When it comes to losing a huge chunk of money, principles (i.e. self-respect) have a way of taking a back seat.

Tavo, I’m not trying to give you a hard time, so I’ll cease on this subject because I can be annoying at times. I just find it hard to believe that you would continue to take a 1k loss for the foreseeable future and several years beyond that in reverence to your self-respect if there was any way you could use the system and get out of this.

Could you benefit if you put that 1k into an investment that gives you a nice return on your money? Think about you and your family. In the end, self-preservation is going to win out over your so-called “self-respect”. You know it and and I know it. That’s what I meant by “cut the sh*t”.

[Tavo]

Marion,

No worries about the “prickly” responses. I need to hear it.

So, what would you do if you were me? Please don’t say that you wouldn’t be stupid enough to put yourself in this situation. That does me no good.

Also, you all assume that my credit will only suffer. Apparently a recourse loan is exactly what it means. I may be pretty f*cked…

[Tavo]

Marion,

No worries about the “prickly” responses. I need to hear it.

So, what would you do if you were me? Please don’t say that you wouldn’t be stupid enough to put yourself in this situation. That does me no good.

Also, you all assume that my credit will only suffer. Apparently a recourse loan is exactly what it means. I may be pretty f*cked…

[Tavo]

Marion,

No worries about the “prickly” responses. I need to hear it.

So, what would you do if you were me? Please don’t say that you wouldn’t be stupid enough to put yourself in this situation. That does me no good.

Also, you all assume that my credit will only suffer. Apparently a recourse loan is exactly what it means. I may be pretty f*cked…

[Tavo]

Marion,

No worries about the “prickly” responses. I need to hear it.

So, what would you do if you were me? Please don’t say that you wouldn’t be stupid enough to put yourself in this situation. That does me no good.

Also, you all assume that my credit will only suffer. Apparently a recourse loan is exactly what it means. I may be pretty f*cked…

[Tavo]

Marion,

No worries about the “prickly” responses. I need to hear it.

So, what would you do if you were me? Please don’t say that you wouldn’t be stupid enough to put yourself in this situation. That does me no good.

Also, you all assume that my credit will only suffer. Apparently a recourse loan is exactly what it means. I may be pretty f*cked…

[Anonymous]

Tavo, no, I’m not going to say anything so arrogant as I wouldn’t put myself into the same situation. We all makes mistakes.

How much equity have you lost in your current resident? As far as the condo goes, you’re already losing 1k a month, who knows when the market will turn around to the point where you are not losing that kind of money. Can you really afford it like you say? If you can’t, you need to dump it yesterday.

What I would do? If it were me, I would dump the condo (don’t know how much you paid for it though). As far as the house, if you didn’t purchase it at a ridiculously overvalued price, can afford it, like it a lot, and plan to stay in it for the long term, keep it. If you can’t answer yes to the above, you could find another primary residence just as nice for a cheaper price and dump your primary (along with the condo) after you close on the cheaper house. Your credit will be wrecked, but you’ll be freer.

Now, I can only tell you what you CAN do, I’m not advocating the above plan. Afterall, that would be unethical. 😉

P.S. If it’s non-recourse, I don’t know how you will get out of it. Someone on here posted that you could. I would run that by a lawyer.

[Anonymous]

Tavo, no, I’m not going to say anything so arrogant as I wouldn’t put myself into the same situation. We all makes mistakes.

How much equity have you lost in your current resident? As far as the condo goes, you’re already losing 1k a month, who knows when the market will turn around to the point where you are not losing that kind of money. Can you really afford it like you say? If you can’t, you need to dump it yesterday.

What I would do? If it were me, I would dump the condo (don’t know how much you paid for it though). As far as the house, if you didn’t purchase it at a ridiculously overvalued price, can afford it, like it a lot, and plan to stay in it for the long term, keep it. If you can’t answer yes to the above, you could find another primary residence just as nice for a cheaper price and dump your primary (along with the condo) after you close on the cheaper house. Your credit will be wrecked, but you’ll be freer.

Now, I can only tell you what you CAN do, I’m not advocating the above plan. Afterall, that would be unethical. 😉

P.S. If it’s non-recourse, I don’t know how you will get out of it. Someone on here posted that you could. I would run that by a lawyer.

[Anonymous]

Tavo, no, I’m not going to say anything so arrogant as I wouldn’t put myself into the same situation. We all makes mistakes.

How much equity have you lost in your current resident? As far as the condo goes, you’re already losing 1k a month, who knows when the market will turn around to the point where you are not losing that kind of money. Can you really afford it like you say? If you can’t, you need to dump it yesterday.

What I would do? If it were me, I would dump the condo (don’t know how much you paid for it though). As far as the house, if you didn’t purchase it at a ridiculously overvalued price, can afford it, like it a lot, and plan to stay in it for the long term, keep it. If you can’t answer yes to the above, you could find another primary residence just as nice for a cheaper price and dump your primary (along with the condo) after you close on the cheaper house. Your credit will be wrecked, but you’ll be freer.

Now, I can only tell you what you CAN do, I’m not advocating the above plan. Afterall, that would be unethical. 😉

P.S. If it’s non-recourse, I don’t know how you will get out of it. Someone on here posted that you could. I would run that by a lawyer.

[Anonymous]

Tavo, no, I’m not going to say anything so arrogant as I wouldn’t put myself into the same situation. We all makes mistakes.

How much equity have you lost in your current resident? As far as the condo goes, you’re already losing 1k a month, who knows when the market will turn around to the point where you are not losing that kind of money. Can you really afford it like you say? If you can’t, you need to dump it yesterday.

What I would do? If it were me, I would dump the condo (don’t know how much you paid for it though). As far as the house, if you didn’t purchase it at a ridiculously overvalued price, can afford it, like it a lot, and plan to stay in it for the long term, keep it. If you can’t answer yes to the above, you could find another primary residence just as nice for a cheaper price and dump your primary (along with the condo) after you close on the cheaper house. Your credit will be wrecked, but you’ll be freer.

Now, I can only tell you what you CAN do, I’m not advocating the above plan. Afterall, that would be unethical. 😉

P.S. If it’s non-recourse, I don’t know how you will get out of it. Someone on here posted that you could. I would run that by a lawyer.

[Author]

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