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March 25, 2009 at 10:59 AM in reply to: Republican housing plan: Renters should subsidize homeowners #372839March 25, 2009 at 10:59 AM in reply to: Republican housing plan: Renters should subsidize homeowners #373120
carlsbadworker
ParticipantUnbelievable!
March 25, 2009 at 10:59 AM in reply to: Republican housing plan: Renters should subsidize homeowners #373295ParticipantUnbelievable!
March 25, 2009 at 10:59 AM in reply to: Republican housing plan: Renters should subsidize homeowners #373339ParticipantUnbelievable!
March 25, 2009 at 10:59 AM in reply to: Republican housing plan: Renters should subsidize homeowners #373452ParticipantUnbelievable!
ParticipantIn 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.
ParticipantIn 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.
ParticipantIn 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.
ParticipantIn 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.
ParticipantIn 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.
ParticipantWhy do you still remember what you paid for? Forget it! Inflation-adjusted price will not come back to your purchase price for a long long time…maybe 30-50 years from now we will have another housing bubble, but no way in near-term.
What you need to look at right now is how much you are underwater, and if you bail, what the rent payment is going to be? And how much do you value keeping a payment promise that you made 3 years ago?
Forget about the past, look at your current and future situation.
ParticipantWhy do you still remember what you paid for? Forget it! Inflation-adjusted price will not come back to your purchase price for a long long time…maybe 30-50 years from now we will have another housing bubble, but no way in near-term.
What you need to look at right now is how much you are underwater, and if you bail, what the rent payment is going to be? And how much do you value keeping a payment promise that you made 3 years ago?
Forget about the past, look at your current and future situation.
ParticipantWhy do you still remember what you paid for? Forget it! Inflation-adjusted price will not come back to your purchase price for a long long time…maybe 30-50 years from now we will have another housing bubble, but no way in near-term.
What you need to look at right now is how much you are underwater, and if you bail, what the rent payment is going to be? And how much do you value keeping a payment promise that you made 3 years ago?
Forget about the past, look at your current and future situation.
ParticipantWhy do you still remember what you paid for? Forget it! Inflation-adjusted price will not come back to your purchase price for a long long time…maybe 30-50 years from now we will have another housing bubble, but no way in near-term.
What you need to look at right now is how much you are underwater, and if you bail, what the rent payment is going to be? And how much do you value keeping a payment promise that you made 3 years ago?
Forget about the past, look at your current and future situation.
ParticipantWhy do you still remember what you paid for? Forget it! Inflation-adjusted price will not come back to your purchase price for a long long time…maybe 30-50 years from now we will have another housing bubble, but no way in near-term.
What you need to look at right now is how much you are underwater, and if you bail, what the rent payment is going to be? And how much do you value keeping a payment promise that you made 3 years ago?
Forget about the past, look at your current and future situation.
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