housing recovery rate

[waiting hawk]

Man this is a tough one. It almost makes you wish you put 0 down and when the bet (I say bet but it wasnt one for u i know) goes south you could have bought one cheaper and then send in the keys. I feel for you on this one and have no right answers. If the value drops to 300k then do what I wrote above. Other than that I would probably hold and not dump my down unless it tanked further to benefit you due to the shortage of income.
Best of luck

[carlsbadworker]

In this case, it seems that from your own financial situation point of view, it is better to get foreclosed:
1. The house price is likely to drop another $100K.
2. If you rent, you can save a considerable amount of money every month.
3. You will probably need 10 years or more for inflation to catch up, allowing your property to become cashflow positive.

But you said that your intent was a home not an investment. So the final decision depends on whether you can still afford the house given your wife’s unemployment. If you can’t afford (e.g. mortgage is over 40% of your income), you can’t afford. Walk away is the only solution.

[carlsbadworker]

In this case, it seems that from your own financial situation point of view, it is better to get foreclosed:
1. The house price is likely to drop another $100K.
2. If you rent, you can save a considerable amount of money every month.
3. You will probably need 10 years or more for inflation to catch up, allowing your property to become cashflow positive.

But you said that your intent was a home not an investment. So the final decision depends on whether you can still afford the house given your wife’s unemployment. If you can’t afford (e.g. mortgage is over 40% of your income), you can’t afford. Walk away is the only solution.

[carlsbadworker]

In this case, it seems that from your own financial situation point of view, it is better to get foreclosed:
1. The house price is likely to drop another $100K.
2. If you rent, you can save a considerable amount of money every month.
3. You will probably need 10 years or more for inflation to catch up, allowing your property to become cashflow positive.

But you said that your intent was a home not an investment. So the final decision depends on whether you can still afford the house given your wife’s unemployment. If you can’t afford (e.g. mortgage is over 40% of your income), you can’t afford. Walk away is the only solution.

[carlsbadworker]

In this case, it seems that from your own financial situation point of view, it is better to get foreclosed:
1. The house price is likely to drop another $100K.
2. If you rent, you can save a considerable amount of money every month.
3. You will probably need 10 years or more for inflation to catch up, allowing your property to become cashflow positive.

But you said that your intent was a home not an investment. So the final decision depends on whether you can still afford the house given your wife’s unemployment. If you can’t afford (e.g. mortgage is over 40% of your income), you can’t afford. Walk away is the only solution.

[carlsbadworker]

In this case, it seems that from your own financial situation point of view, it is better to get foreclosed:
1. The house price is likely to drop another $100K.
2. If you rent, you can save a considerable amount of money every month.
3. You will probably need 10 years or more for inflation to catch up, allowing your property to become cashflow positive.

But you said that your intent was a home not an investment. So the final decision depends on whether you can still afford the house given your wife’s unemployment. If you can’t afford (e.g. mortgage is over 40% of your income), you can’t afford. Walk away is the only solution.

[rubberducky]

Appreciate the input everyone. I’m trying to make an objective decision, and this is really helping me out.

While the house was not intended as an investment, it was intended to be a relatively safe vessel for my down. Oooops.

On paper, I can afford the house, but that would mean I have to quit saving for retirement to make it happen.

I lost more $$ in the tech bubble (on paper, unlike this which was real money), so I’m not about to jump out of a window about it, but… this down was a significant chunk of my retirement.

If the house had not appreciated, I’d have been fine (it wasn’t intended as an investment in THAT sense).

In this case, it feels like it would be 8-10 years until the house appreciates enough to sell (this is a total swag based on jumping up to FHA max within 1-2 years, then <5% annually. I doubt I'm right but I'm afraid if I am). The appreciation charts from the mid-90's SD crash aren't making me warm and fuzzy.

In that time, I could be paying a lot less on a rental (and perhaps a new house in as soon as 2-3 years I'm told) and stuffing the overage into a mattress (as a hard metal filler, not paper) for my retirement.

$1400 a month, conservatively, is a lot of $$.

I have one credit card, and it's not universal default (they'll reassess in about a year when it expires), and if the economy hadn't tanked, it would be paid off right now.

The only reason I need a CC is to pay for things I order over the web.

[rubberducky]

Appreciate the input everyone. I’m trying to make an objective decision, and this is really helping me out.

While the house was not intended as an investment, it was intended to be a relatively safe vessel for my down. Oooops.

On paper, I can afford the house, but that would mean I have to quit saving for retirement to make it happen.

I lost more $$ in the tech bubble (on paper, unlike this which was real money), so I’m not about to jump out of a window about it, but… this down was a significant chunk of my retirement.

If the house had not appreciated, I’d have been fine (it wasn’t intended as an investment in THAT sense).

In this case, it feels like it would be 8-10 years until the house appreciates enough to sell (this is a total swag based on jumping up to FHA max within 1-2 years, then <5% annually. I doubt I'm right but I'm afraid if I am). The appreciation charts from the mid-90's SD crash aren't making me warm and fuzzy.

In that time, I could be paying a lot less on a rental (and perhaps a new house in as soon as 2-3 years I'm told) and stuffing the overage into a mattress (as a hard metal filler, not paper) for my retirement.

$1400 a month, conservatively, is a lot of $$.

I have one credit card, and it's not universal default (they'll reassess in about a year when it expires), and if the economy hadn't tanked, it would be paid off right now.

The only reason I need a CC is to pay for things I order over the web.

[rubberducky]

Appreciate the input everyone. I’m trying to make an objective decision, and this is really helping me out.

While the house was not intended as an investment, it was intended to be a relatively safe vessel for my down. Oooops.

On paper, I can afford the house, but that would mean I have to quit saving for retirement to make it happen.

I lost more $$ in the tech bubble (on paper, unlike this which was real money), so I’m not about to jump out of a window about it, but… this down was a significant chunk of my retirement.

If the house had not appreciated, I’d have been fine (it wasn’t intended as an investment in THAT sense).

In this case, it feels like it would be 8-10 years until the house appreciates enough to sell (this is a total swag based on jumping up to FHA max within 1-2 years, then <5% annually. I doubt I'm right but I'm afraid if I am). The appreciation charts from the mid-90's SD crash aren't making me warm and fuzzy.

In that time, I could be paying a lot less on a rental (and perhaps a new house in as soon as 2-3 years I'm told) and stuffing the overage into a mattress (as a hard metal filler, not paper) for my retirement.

$1400 a month, conservatively, is a lot of $$.

I have one credit card, and it's not universal default (they'll reassess in about a year when it expires), and if the economy hadn't tanked, it would be paid off right now.

The only reason I need a CC is to pay for things I order over the web.

[rubberducky]

Appreciate the input everyone. I’m trying to make an objective decision, and this is really helping me out.

While the house was not intended as an investment, it was intended to be a relatively safe vessel for my down. Oooops.

On paper, I can afford the house, but that would mean I have to quit saving for retirement to make it happen.

I lost more $$ in the tech bubble (on paper, unlike this which was real money), so I’m not about to jump out of a window about it, but… this down was a significant chunk of my retirement.

If the house had not appreciated, I’d have been fine (it wasn’t intended as an investment in THAT sense).

In this case, it feels like it would be 8-10 years until the house appreciates enough to sell (this is a total swag based on jumping up to FHA max within 1-2 years, then <5% annually. I doubt I'm right but I'm afraid if I am). The appreciation charts from the mid-90's SD crash aren't making me warm and fuzzy.

In that time, I could be paying a lot less on a rental (and perhaps a new house in as soon as 2-3 years I'm told) and stuffing the overage into a mattress (as a hard metal filler, not paper) for my retirement.

$1400 a month, conservatively, is a lot of $$.

I have one credit card, and it's not universal default (they'll reassess in about a year when it expires), and if the economy hadn't tanked, it would be paid off right now.

The only reason I need a CC is to pay for things I order over the web.

[rubberducky]

Appreciate the input everyone. I’m trying to make an objective decision, and this is really helping me out.

While the house was not intended as an investment, it was intended to be a relatively safe vessel for my down. Oooops.

On paper, I can afford the house, but that would mean I have to quit saving for retirement to make it happen.

I lost more $$ in the tech bubble (on paper, unlike this which was real money), so I’m not about to jump out of a window about it, but… this down was a significant chunk of my retirement.

If the house had not appreciated, I’d have been fine (it wasn’t intended as an investment in THAT sense).

In this case, it feels like it would be 8-10 years until the house appreciates enough to sell (this is a total swag based on jumping up to FHA max within 1-2 years, then <5% annually. I doubt I'm right but I'm afraid if I am). The appreciation charts from the mid-90's SD crash aren't making me warm and fuzzy.

In that time, I could be paying a lot less on a rental (and perhaps a new house in as soon as 2-3 years I'm told) and stuffing the overage into a mattress (as a hard metal filler, not paper) for my retirement.

$1400 a month, conservatively, is a lot of $$.

I have one credit card, and it's not universal default (they'll reassess in about a year when it expires), and if the economy hadn't tanked, it would be paid off right now.

The only reason I need a CC is to pay for things I order over the web.

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