Free bank living – the HELOC replacement

[briansd1]

[quote=Arraya]
Deadbeats are the new Jew of the financial holocaust. As things deteriorate they will be blasted from their “free rent” bunkers by roving hoards of angry piggingtonians — when we have a 35% unemployment rate, 10 of millions living for free and no homes being foreclosed upon with prices still not coming down.[/quote]

There quite a few piggingtonians who don’t want house prices to come down (as they bought already) but don’t want the bailouts either.

It’s a contradiction here. Would you rather pay a small part of bailout, over generations, or would you rather your house lose a big chunk of its value immediately?

[davelj]

[quote=briansd1][quote=Arraya]
Deadbeats are the new Jew of the financial holocaust. As things deteriorate they will be blasted from their “free rent” bunkers by roving hoards of angry piggingtonians — when we have a 35% unemployment rate, 10 of millions living for free and no homes being foreclosed upon with prices still not coming down.[/quote]

There quite a few piggingtonians who don’t want house prices to come down (as they bought already) but don’t want the bailouts either.

It’s a contradiction here. Would you rather pay a small part of bailout, over generations, or would you rather your house lose a big chunk of its value immediately?[/quote]

If you can afford your mortgage (or don’t have one) and don’t need to move, the value of your house is largely irrelevant other than as some figure in a mental account.

[davelj]

[quote=briansd1][quote=Arraya]
Deadbeats are the new Jew of the financial holocaust. As things deteriorate they will be blasted from their “free rent” bunkers by roving hoards of angry piggingtonians — when we have a 35% unemployment rate, 10 of millions living for free and no homes being foreclosed upon with prices still not coming down.[/quote]

There quite a few piggingtonians who don’t want house prices to come down (as they bought already) but don’t want the bailouts either.

It’s a contradiction here. Would you rather pay a small part of bailout, over generations, or would you rather your house lose a big chunk of its value immediately?[/quote]

If you can afford your mortgage (or don’t have one) and don’t need to move, the value of your house is largely irrelevant other than as some figure in a mental account.

[davelj]

[quote=briansd1][quote=Arraya]
Deadbeats are the new Jew of the financial holocaust. As things deteriorate they will be blasted from their “free rent” bunkers by roving hoards of angry piggingtonians — when we have a 35% unemployment rate, 10 of millions living for free and no homes being foreclosed upon with prices still not coming down.[/quote]

There quite a few piggingtonians who don’t want house prices to come down (as they bought already) but don’t want the bailouts either.

It’s a contradiction here. Would you rather pay a small part of bailout, over generations, or would you rather your house lose a big chunk of its value immediately?[/quote]

If you can afford your mortgage (or don’t have one) and don’t need to move, the value of your house is largely irrelevant other than as some figure in a mental account.

[davelj]

[quote=briansd1][quote=Arraya]
Deadbeats are the new Jew of the financial holocaust. As things deteriorate they will be blasted from their “free rent” bunkers by roving hoards of angry piggingtonians — when we have a 35% unemployment rate, 10 of millions living for free and no homes being foreclosed upon with prices still not coming down.[/quote]

There quite a few piggingtonians who don’t want house prices to come down (as they bought already) but don’t want the bailouts either.

It’s a contradiction here. Would you rather pay a small part of bailout, over generations, or would you rather your house lose a big chunk of its value immediately?[/quote]

If you can afford your mortgage (or don’t have one) and don’t need to move, the value of your house is largely irrelevant other than as some figure in a mental account.

[davelj]

[quote=briansd1][quote=Arraya]
Deadbeats are the new Jew of the financial holocaust. As things deteriorate they will be blasted from their “free rent” bunkers by roving hoards of angry piggingtonians — when we have a 35% unemployment rate, 10 of millions living for free and no homes being foreclosed upon with prices still not coming down.[/quote]

There quite a few piggingtonians who don’t want house prices to come down (as they bought already) but don’t want the bailouts either.

It’s a contradiction here. Would you rather pay a small part of bailout, over generations, or would you rather your house lose a big chunk of its value immediately?[/quote]

If you can afford your mortgage (or don’t have one) and don’t need to move, the value of your house is largely irrelevant other than as some figure in a mental account.

[briansd1]

[quote=davelj]
If you can afford your mortgage (or don’t have one) and don’t need to move, the value of your house is largely irrelevant other than as some figure in a mental account.[/quote]

I agree. It’s all a state of mind.

If your neighbor paid 1/2 the price you paid, and if you’re angry, it’s your problem, not his. If your neighborhood turns out not as “upscale” as you expected, it’s your problem, not the new neighbor’s problem.

As you said, life goes on. Big picture, it’s what you have that matters not what other people have.

People get angry for all kinds of reasons.
http://piggington.com/i_want_to_scrreeeammmm
http://piggington.com/ot_do_you_support_arizona039s_new_immigration_law

[briansd1]

[quote=davelj]
If you can afford your mortgage (or don’t have one) and don’t need to move, the value of your house is largely irrelevant other than as some figure in a mental account.[/quote]

I agree. It’s all a state of mind.

If your neighbor paid 1/2 the price you paid, and if you’re angry, it’s your problem, not his. If your neighborhood turns out not as “upscale” as you expected, it’s your problem, not the new neighbor’s problem.

As you said, life goes on. Big picture, it’s what you have that matters not what other people have.

People get angry for all kinds of reasons.
http://piggington.com/i_want_to_scrreeeammmm
http://piggington.com/ot_do_you_support_arizona039s_new_immigration_law

[briansd1]

[quote=davelj]
If you can afford your mortgage (or don’t have one) and don’t need to move, the value of your house is largely irrelevant other than as some figure in a mental account.[/quote]

I agree. It’s all a state of mind.

If your neighbor paid 1/2 the price you paid, and if you’re angry, it’s your problem, not his. If your neighborhood turns out not as “upscale” as you expected, it’s your problem, not the new neighbor’s problem.

As you said, life goes on. Big picture, it’s what you have that matters not what other people have.

People get angry for all kinds of reasons.
http://piggington.com/i_want_to_scrreeeammmm
http://piggington.com/ot_do_you_support_arizona039s_new_immigration_law

[briansd1]

[quote=davelj]
If you can afford your mortgage (or don’t have one) and don’t need to move, the value of your house is largely irrelevant other than as some figure in a mental account.[/quote]

I agree. It’s all a state of mind.

If your neighbor paid 1/2 the price you paid, and if you’re angry, it’s your problem, not his. If your neighborhood turns out not as “upscale” as you expected, it’s your problem, not the new neighbor’s problem.

As you said, life goes on. Big picture, it’s what you have that matters not what other people have.

People get angry for all kinds of reasons.
http://piggington.com/i_want_to_scrreeeammmm
http://piggington.com/ot_do_you_support_arizona039s_new_immigration_law

[briansd1]

[quote=davelj]
If you can afford your mortgage (or don’t have one) and don’t need to move, the value of your house is largely irrelevant other than as some figure in a mental account.[/quote]

I agree. It’s all a state of mind.

If your neighbor paid 1/2 the price you paid, and if you’re angry, it’s your problem, not his. If your neighborhood turns out not as “upscale” as you expected, it’s your problem, not the new neighbor’s problem.

As you said, life goes on. Big picture, it’s what you have that matters not what other people have.

People get angry for all kinds of reasons.
http://piggington.com/i_want_to_scrreeeammmm
http://piggington.com/ot_do_you_support_arizona039s_new_immigration_law

[bearishgurl]

[quote=davelj]If you can afford your mortgage (or don’t have one) and don’t need to move, the value of your house is largely irrelevant other than as some figure in a mental account.[/quote]

Yes, if your mental date to sell is down the road a few years or more, your mindset might be, “Let’s get this party started, the pain over with, the blood all washed out into the ocean.” Then when you are ready to sell, it will (hopefully) be a “normal” market.

That’s MY mindset.

Oh, and from what I can see, the buyers of these REOs are 10x the owner/neighbor than the previous ones who lost the property to foreclosure. With all the $$ and time these new owners are putting into their newly-acquired “bargains,” it can only HELP MY (future) BOTTOM LINE, by upgrading the ‘hood, one by one . . . It doesn’t bother me a bit that someone else got a great deal (I’m not actually in danger of going “underwater,” tho).

[bearishgurl]

[quote=davelj]If you can afford your mortgage (or don’t have one) and don’t need to move, the value of your house is largely irrelevant other than as some figure in a mental account.[/quote]

Yes, if your mental date to sell is down the road a few years or more, your mindset might be, “Let’s get this party started, the pain over with, the blood all washed out into the ocean.” Then when you are ready to sell, it will (hopefully) be a “normal” market.

That’s MY mindset.

Oh, and from what I can see, the buyers of these REOs are 10x the owner/neighbor than the previous ones who lost the property to foreclosure. With all the $$ and time these new owners are putting into their newly-acquired “bargains,” it can only HELP MY (future) BOTTOM LINE, by upgrading the ‘hood, one by one . . . It doesn’t bother me a bit that someone else got a great deal (I’m not actually in danger of going “underwater,” tho).

[bearishgurl]

[quote=davelj]If you can afford your mortgage (or don’t have one) and don’t need to move, the value of your house is largely irrelevant other than as some figure in a mental account.[/quote]

Yes, if your mental date to sell is down the road a few years or more, your mindset might be, “Let’s get this party started, the pain over with, the blood all washed out into the ocean.” Then when you are ready to sell, it will (hopefully) be a “normal” market.

That’s MY mindset.

Oh, and from what I can see, the buyers of these REOs are 10x the owner/neighbor than the previous ones who lost the property to foreclosure. With all the $$ and time these new owners are putting into their newly-acquired “bargains,” it can only HELP MY (future) BOTTOM LINE, by upgrading the ‘hood, one by one . . . It doesn’t bother me a bit that someone else got a great deal (I’m not actually in danger of going “underwater,” tho).

[bearishgurl]

[quote=davelj]If you can afford your mortgage (or don’t have one) and don’t need to move, the value of your house is largely irrelevant other than as some figure in a mental account.[/quote]

Yes, if your mental date to sell is down the road a few years or more, your mindset might be, “Let’s get this party started, the pain over with, the blood all washed out into the ocean.” Then when you are ready to sell, it will (hopefully) be a “normal” market.

That’s MY mindset.

Oh, and from what I can see, the buyers of these REOs are 10x the owner/neighbor than the previous ones who lost the property to foreclosure. With all the $$ and time these new owners are putting into their newly-acquired “bargains,” it can only HELP MY (future) BOTTOM LINE, by upgrading the ‘hood, one by one . . . It doesn’t bother me a bit that someone else got a great deal (I’m not actually in danger of going “underwater,” tho).

[Author]

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