- This topic has 148 replies, 25 voices, and was last updated 17 years, 1 month ago by unbiasedobserver.
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November 9, 2007 at 1:29 PM #97898November 9, 2007 at 1:29 PM #97905justboughtParticipant
cash out and go bankrupt
November 9, 2007 at 1:43 PM #97827jimmyleParticipantMy wife’s coworker and his realtor wife refinanced their house and bought three new houses in 2005 (two in Chula Vista and one in Temecula). This guy retired from the Navy civilian job in 2006. Now he is back to work as a temperary employee for the Navy (while receiving his pension) to keep up with the four mortgages.
November 9, 2007 at 1:43 PM #97894jimmyleParticipantMy wife’s coworker and his realtor wife refinanced their house and bought three new houses in 2005 (two in Chula Vista and one in Temecula). This guy retired from the Navy civilian job in 2006. Now he is back to work as a temperary employee for the Navy (while receiving his pension) to keep up with the four mortgages.
November 9, 2007 at 1:43 PM #97900jimmyleParticipantMy wife’s coworker and his realtor wife refinanced their house and bought three new houses in 2005 (two in Chula Vista and one in Temecula). This guy retired from the Navy civilian job in 2006. Now he is back to work as a temperary employee for the Navy (while receiving his pension) to keep up with the four mortgages.
November 9, 2007 at 1:43 PM #97908jimmyleParticipantMy wife’s coworker and his realtor wife refinanced their house and bought three new houses in 2005 (two in Chula Vista and one in Temecula). This guy retired from the Navy civilian job in 2006. Now he is back to work as a temperary employee for the Navy (while receiving his pension) to keep up with the four mortgages.
November 9, 2007 at 1:44 PM #97833RaybyrnesParticipantWhy would you use anything other than CC? Money in the bank, he can make payments. He is buying time. Additionally as his credit is still good he can get good rates on the CC’s.
Worst case scenario is that he go BK and theis is forgiven.
Best case is that he rides it out and things turn in time for him to sell property at a profit and pay the cc off.
November 9, 2007 at 1:44 PM #97896RaybyrnesParticipantWhy would you use anything other than CC? Money in the bank, he can make payments. He is buying time. Additionally as his credit is still good he can get good rates on the CC’s.
Worst case scenario is that he go BK and theis is forgiven.
Best case is that he rides it out and things turn in time for him to sell property at a profit and pay the cc off.
November 9, 2007 at 1:44 PM #97904RaybyrnesParticipantWhy would you use anything other than CC? Money in the bank, he can make payments. He is buying time. Additionally as his credit is still good he can get good rates on the CC’s.
Worst case scenario is that he go BK and theis is forgiven.
Best case is that he rides it out and things turn in time for him to sell property at a profit and pay the cc off.
November 9, 2007 at 1:44 PM #97914RaybyrnesParticipantWhy would you use anything other than CC? Money in the bank, he can make payments. He is buying time. Additionally as his credit is still good he can get good rates on the CC’s.
Worst case scenario is that he go BK and theis is forgiven.
Best case is that he rides it out and things turn in time for him to sell property at a profit and pay the cc off.
November 9, 2007 at 2:02 PM #97837lendingbubblecontinuesParticipantYour friend sounds like a real dumbass.
November 9, 2007 at 2:02 PM #97902lendingbubblecontinuesParticipantYour friend sounds like a real dumbass.
November 9, 2007 at 2:02 PM #97909lendingbubblecontinuesParticipantYour friend sounds like a real dumbass.
November 9, 2007 at 2:02 PM #97918lendingbubblecontinuesParticipantYour friend sounds like a real dumbass.
November 9, 2007 at 2:07 PM #97845surveyorParticipantOwwie
I would say that the day he gives up and starts selling his properties just to get rid of them is probably when you can call “bottom”.
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