Govt planning principal reductions

[meadandale]

[quote=SD Realtor]
Meandale, I did not pay hundreds of thousands in taxes but I did pay around 75k when I add up all of my state andfederal taxes paid by myself and paid by my S corps and I can promise I cannot afford to buy the home I want to buy. People tend to think SS and Medicare are not taxes… except that they are, and they are effectively doubled when you have a small business. [/quote]

I have an S-corp. You don’t have to explain taxes to me.

However, you tipped your hand when you said “I cannot afford to buy the home I want to buy”.

Everyone can’t afford a 3000 sq foot house and a brand new mercedes in the drive way. Does that mean that we just should rent and walk to work?

If you have a beer budget, buy beer.

[NotCranky]

Relative equilibrium will return to the housing market. As my mentor, sdrealtor, would say “be patient grasshopper”.We might look like san Diego then… or we might look like San Francisco… or we might look like Tijuana , but it will work out.

[NotCranky]

Relative equilibrium will return to the housing market. As my mentor, sdrealtor, would say “be patient grasshopper”.We might look like san Diego then… or we might look like San Francisco… or we might look like Tijuana , but it will work out.

[NotCranky]

Relative equilibrium will return to the housing market. As my mentor, sdrealtor, would say “be patient grasshopper”.We might look like san Diego then… or we might look like San Francisco… or we might look like Tijuana , but it will work out.

[NotCranky]

Relative equilibrium will return to the housing market. As my mentor, sdrealtor, would say “be patient grasshopper”.We might look like san Diego then… or we might look like San Francisco… or we might look like Tijuana , but it will work out.

[NotCranky]

Relative equilibrium will return to the housing market. As my mentor, sdrealtor, would say “be patient grasshopper”.We might look like san Diego then… or we might look like San Francisco… or we might look like Tijuana , but it will work out.

[Huckleberry]

[quote=jpinpb]And so now we’ve come full circle again. The government is going to bend over backwards and do somersaults to bail out banks, FB and whoever stands in line, so I repeat again, if you can’t beat them, join them. If they are going to take my taxpaying dollars to bail people out, but make it harder for me to buy, well, then I’ll just get a condo w/an FHA 3% down and then default and get bailed out too.

What can they do? So my credit gets a little tarnished. They’re not going to take the house. It is clear that is a last resort and they don’t want to do it. They’ll let you live in it for a year and still negotiate w/you. It’s like Monty Hall and “Let’s make a Deal.”

It’s like a car salesman’s pitch, “What can I do to get you in that car today?” What can we do to keep you in the house.

UUUgggggghhhh. This whole thing disgusts me. [/quote]

I like this idea. I am also going to seriously consider doing this!

I have been waiting for a long time to purchase, and if this is how the system is going to work, then I am going to work the system…

[Huckleberry]

[quote=jpinpb]And so now we’ve come full circle again. The government is going to bend over backwards and do somersaults to bail out banks, FB and whoever stands in line, so I repeat again, if you can’t beat them, join them. If they are going to take my taxpaying dollars to bail people out, but make it harder for me to buy, well, then I’ll just get a condo w/an FHA 3% down and then default and get bailed out too.

What can they do? So my credit gets a little tarnished. They’re not going to take the house. It is clear that is a last resort and they don’t want to do it. They’ll let you live in it for a year and still negotiate w/you. It’s like Monty Hall and “Let’s make a Deal.”

It’s like a car salesman’s pitch, “What can I do to get you in that car today?” What can we do to keep you in the house.

UUUgggggghhhh. This whole thing disgusts me. [/quote]

I like this idea. I am also going to seriously consider doing this!

I have been waiting for a long time to purchase, and if this is how the system is going to work, then I am going to work the system…

[Huckleberry]

[quote=jpinpb]And so now we’ve come full circle again. The government is going to bend over backwards and do somersaults to bail out banks, FB and whoever stands in line, so I repeat again, if you can’t beat them, join them. If they are going to take my taxpaying dollars to bail people out, but make it harder for me to buy, well, then I’ll just get a condo w/an FHA 3% down and then default and get bailed out too.

What can they do? So my credit gets a little tarnished. They’re not going to take the house. It is clear that is a last resort and they don’t want to do it. They’ll let you live in it for a year and still negotiate w/you. It’s like Monty Hall and “Let’s make a Deal.”

It’s like a car salesman’s pitch, “What can I do to get you in that car today?” What can we do to keep you in the house.

UUUgggggghhhh. This whole thing disgusts me. [/quote]

I like this idea. I am also going to seriously consider doing this!

I have been waiting for a long time to purchase, and if this is how the system is going to work, then I am going to work the system…

[Huckleberry]

[quote=jpinpb]And so now we’ve come full circle again. The government is going to bend over backwards and do somersaults to bail out banks, FB and whoever stands in line, so I repeat again, if you can’t beat them, join them. If they are going to take my taxpaying dollars to bail people out, but make it harder for me to buy, well, then I’ll just get a condo w/an FHA 3% down and then default and get bailed out too.

What can they do? So my credit gets a little tarnished. They’re not going to take the house. It is clear that is a last resort and they don’t want to do it. They’ll let you live in it for a year and still negotiate w/you. It’s like Monty Hall and “Let’s make a Deal.”

It’s like a car salesman’s pitch, “What can I do to get you in that car today?” What can we do to keep you in the house.

UUUgggggghhhh. This whole thing disgusts me. [/quote]

I like this idea. I am also going to seriously consider doing this!

I have been waiting for a long time to purchase, and if this is how the system is going to work, then I am going to work the system…

[Huckleberry]

[quote=jpinpb]And so now we’ve come full circle again. The government is going to bend over backwards and do somersaults to bail out banks, FB and whoever stands in line, so I repeat again, if you can’t beat them, join them. If they are going to take my taxpaying dollars to bail people out, but make it harder for me to buy, well, then I’ll just get a condo w/an FHA 3% down and then default and get bailed out too.

What can they do? So my credit gets a little tarnished. They’re not going to take the house. It is clear that is a last resort and they don’t want to do it. They’ll let you live in it for a year and still negotiate w/you. It’s like Monty Hall and “Let’s make a Deal.”

It’s like a car salesman’s pitch, “What can I do to get you in that car today?” What can we do to keep you in the house.

UUUgggggghhhh. This whole thing disgusts me. [/quote]

I like this idea. I am also going to seriously consider doing this!

I have been waiting for a long time to purchase, and if this is how the system is going to work, then I am going to work the system…

[djc]

I’m curious to see how much of this homeowner bailout continues after the election. If it does, I’ll be looking to play the system like others. When the rules change to meet the need, you must also change your strategy.

One year ago, if someone suggested that the government would intervene and cut principles to keep people from being foreclosed on, everyone here would have called that person a dreamer. We were counting on the old rules, if they can’t pay, the bank would take it back and sell. In high numbers, this would put downward pressure on prices and there would be less qualified buyers to compete with. That was last year. This year, it is a whole new ballgame.

[djc]

I’m curious to see how much of this homeowner bailout continues after the election. If it does, I’ll be looking to play the system like others. When the rules change to meet the need, you must also change your strategy.

One year ago, if someone suggested that the government would intervene and cut principles to keep people from being foreclosed on, everyone here would have called that person a dreamer. We were counting on the old rules, if they can’t pay, the bank would take it back and sell. In high numbers, this would put downward pressure on prices and there would be less qualified buyers to compete with. That was last year. This year, it is a whole new ballgame.

[djc]

I’m curious to see how much of this homeowner bailout continues after the election. If it does, I’ll be looking to play the system like others. When the rules change to meet the need, you must also change your strategy.

One year ago, if someone suggested that the government would intervene and cut principles to keep people from being foreclosed on, everyone here would have called that person a dreamer. We were counting on the old rules, if they can’t pay, the bank would take it back and sell. In high numbers, this would put downward pressure on prices and there would be less qualified buyers to compete with. That was last year. This year, it is a whole new ballgame.

[djc]

I’m curious to see how much of this homeowner bailout continues after the election. If it does, I’ll be looking to play the system like others. When the rules change to meet the need, you must also change your strategy.

One year ago, if someone suggested that the government would intervene and cut principles to keep people from being foreclosed on, everyone here would have called that person a dreamer. We were counting on the old rules, if they can’t pay, the bank would take it back and sell. In high numbers, this would put downward pressure on prices and there would be less qualified buyers to compete with. That was last year. This year, it is a whole new ballgame.

[Author]

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