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November 14, 2008 at 1:59 PM #305120November 14, 2008 at 2:23 PM #304687jpinpbParticipant
Rockemsock has it right. I’ve seen NODs on places go for 12+ months. Still no foreclosure. You can live there for 12 months and just bank your monthly payment — or rent equivalent.
So many options were available, but the zero risk was something I should’ve picked up on. Buy a house w/zero down and flip and make a profit. If the market tanks, live there for free and bank your cash monthly.
Worse case, the bank reduces your principle and/or lowers your rate.
Meanwhile, you’ve been living in a nice place you never had any business buying.
I’m just frustrated, so don’t mind me. Trying to play by the rules when many weren’t.
November 14, 2008 at 2:23 PM #305052jpinpbParticipantRockemsock has it right. I’ve seen NODs on places go for 12+ months. Still no foreclosure. You can live there for 12 months and just bank your monthly payment — or rent equivalent.
So many options were available, but the zero risk was something I should’ve picked up on. Buy a house w/zero down and flip and make a profit. If the market tanks, live there for free and bank your cash monthly.
Worse case, the bank reduces your principle and/or lowers your rate.
Meanwhile, you’ve been living in a nice place you never had any business buying.
I’m just frustrated, so don’t mind me. Trying to play by the rules when many weren’t.
November 14, 2008 at 2:23 PM #305064jpinpbParticipantRockemsock has it right. I’ve seen NODs on places go for 12+ months. Still no foreclosure. You can live there for 12 months and just bank your monthly payment — or rent equivalent.
So many options were available, but the zero risk was something I should’ve picked up on. Buy a house w/zero down and flip and make a profit. If the market tanks, live there for free and bank your cash monthly.
Worse case, the bank reduces your principle and/or lowers your rate.
Meanwhile, you’ve been living in a nice place you never had any business buying.
I’m just frustrated, so don’t mind me. Trying to play by the rules when many weren’t.
November 14, 2008 at 2:23 PM #305083jpinpbParticipantRockemsock has it right. I’ve seen NODs on places go for 12+ months. Still no foreclosure. You can live there for 12 months and just bank your monthly payment — or rent equivalent.
So many options were available, but the zero risk was something I should’ve picked up on. Buy a house w/zero down and flip and make a profit. If the market tanks, live there for free and bank your cash monthly.
Worse case, the bank reduces your principle and/or lowers your rate.
Meanwhile, you’ve been living in a nice place you never had any business buying.
I’m just frustrated, so don’t mind me. Trying to play by the rules when many weren’t.
November 14, 2008 at 2:23 PM #305141jpinpbParticipantRockemsock has it right. I’ve seen NODs on places go for 12+ months. Still no foreclosure. You can live there for 12 months and just bank your monthly payment — or rent equivalent.
So many options were available, but the zero risk was something I should’ve picked up on. Buy a house w/zero down and flip and make a profit. If the market tanks, live there for free and bank your cash monthly.
Worse case, the bank reduces your principle and/or lowers your rate.
Meanwhile, you’ve been living in a nice place you never had any business buying.
I’m just frustrated, so don’t mind me. Trying to play by the rules when many weren’t.
November 14, 2008 at 2:25 PM #304692RockemsockParticipantRustico, sorry, I missed the “wait for the bank…” comment first read.
As for my scenario, I wouldn’t want to do that either, but only because I wouldn’t be able to enter into the loan agreement with good conscience. Living rent free for a good part of a year is quite nice when you don’t have a dual-income, been around the block for 2 decades bank account. But perhaps I’m simplifying that scenario too much…there are probably negatives that are more difficult to see from the outside looking in (collections, social-stigma?, moving, I’m reaching, that’s all I got).
November 14, 2008 at 2:25 PM #305057RockemsockParticipantRustico, sorry, I missed the “wait for the bank…” comment first read.
As for my scenario, I wouldn’t want to do that either, but only because I wouldn’t be able to enter into the loan agreement with good conscience. Living rent free for a good part of a year is quite nice when you don’t have a dual-income, been around the block for 2 decades bank account. But perhaps I’m simplifying that scenario too much…there are probably negatives that are more difficult to see from the outside looking in (collections, social-stigma?, moving, I’m reaching, that’s all I got).
November 14, 2008 at 2:25 PM #305069RockemsockParticipantRustico, sorry, I missed the “wait for the bank…” comment first read.
As for my scenario, I wouldn’t want to do that either, but only because I wouldn’t be able to enter into the loan agreement with good conscience. Living rent free for a good part of a year is quite nice when you don’t have a dual-income, been around the block for 2 decades bank account. But perhaps I’m simplifying that scenario too much…there are probably negatives that are more difficult to see from the outside looking in (collections, social-stigma?, moving, I’m reaching, that’s all I got).
November 14, 2008 at 2:25 PM #305088RockemsockParticipantRustico, sorry, I missed the “wait for the bank…” comment first read.
As for my scenario, I wouldn’t want to do that either, but only because I wouldn’t be able to enter into the loan agreement with good conscience. Living rent free for a good part of a year is quite nice when you don’t have a dual-income, been around the block for 2 decades bank account. But perhaps I’m simplifying that scenario too much…there are probably negatives that are more difficult to see from the outside looking in (collections, social-stigma?, moving, I’m reaching, that’s all I got).
November 14, 2008 at 2:25 PM #305146RockemsockParticipantRustico, sorry, I missed the “wait for the bank…” comment first read.
As for my scenario, I wouldn’t want to do that either, but only because I wouldn’t be able to enter into the loan agreement with good conscience. Living rent free for a good part of a year is quite nice when you don’t have a dual-income, been around the block for 2 decades bank account. But perhaps I’m simplifying that scenario too much…there are probably negatives that are more difficult to see from the outside looking in (collections, social-stigma?, moving, I’m reaching, that’s all I got).
November 14, 2008 at 2:34 PM #304707NotCrankyParticipantRockemsock, I wasn’t thinking about your scenario from an “I am so rich why would I bother perspective”. Like you, it is just something that would not appeal to me now matter how many people did it. Still, I think wanting to trade places is probably a case of the “grass is greener on the other side”, moral compunction aside.
November 14, 2008 at 2:34 PM #305072NotCrankyParticipantRockemsock, I wasn’t thinking about your scenario from an “I am so rich why would I bother perspective”. Like you, it is just something that would not appeal to me now matter how many people did it. Still, I think wanting to trade places is probably a case of the “grass is greener on the other side”, moral compunction aside.
November 14, 2008 at 2:34 PM #305084NotCrankyParticipantRockemsock, I wasn’t thinking about your scenario from an “I am so rich why would I bother perspective”. Like you, it is just something that would not appeal to me now matter how many people did it. Still, I think wanting to trade places is probably a case of the “grass is greener on the other side”, moral compunction aside.
November 14, 2008 at 2:34 PM #305103NotCrankyParticipantRockemsock, I wasn’t thinking about your scenario from an “I am so rich why would I bother perspective”. Like you, it is just something that would not appeal to me now matter how many people did it. Still, I think wanting to trade places is probably a case of the “grass is greener on the other side”, moral compunction aside.
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