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EconProf
ParticipantBobS
Great point, TemeculaGuy.
A few years ago we homeowners could claim we “earned” money by simply owning a house. Consider: a $500,000 house going up 12% a year (many years the rate was higher) was making us $5000 per month (not compounded). We could justify to our spouse buying toys and vacations with that ammunition. “Honey, I’m going fishing at Cabo with the money we made last month”. Or, “Yesterday our house made $166.67 for us, let’s go out to that french restaurant.”
Now TemeculaGuy and other smart renters are “capitalizing” their future earnings, gained by waiting to buy, translating their future growing purchasing power into current wealth. Ya gotta love it.ParticipantBobS
Great point, TemeculaGuy.
A few years ago we homeowners could claim we “earned” money by simply owning a house. Consider: a $500,000 house going up 12% a year (many years the rate was higher) was making us $5000 per month (not compounded). We could justify to our spouse buying toys and vacations with that ammunition. “Honey, I’m going fishing at Cabo with the money we made last month”. Or, “Yesterday our house made $166.67 for us, let’s go out to that french restaurant.”
Now TemeculaGuy and other smart renters are “capitalizing” their future earnings, gained by waiting to buy, translating their future growing purchasing power into current wealth. Ya gotta love it.ParticipantBobS
Great point, TemeculaGuy.
A few years ago we homeowners could claim we “earned” money by simply owning a house. Consider: a $500,000 house going up 12% a year (many years the rate was higher) was making us $5000 per month (not compounded). We could justify to our spouse buying toys and vacations with that ammunition. “Honey, I’m going fishing at Cabo with the money we made last month”. Or, “Yesterday our house made $166.67 for us, let’s go out to that french restaurant.”
Now TemeculaGuy and other smart renters are “capitalizing” their future earnings, gained by waiting to buy, translating their future growing purchasing power into current wealth. Ya gotta love it.ParticipantBobS
Great point, TemeculaGuy.
A few years ago we homeowners could claim we “earned” money by simply owning a house. Consider: a $500,000 house going up 12% a year (many years the rate was higher) was making us $5000 per month (not compounded). We could justify to our spouse buying toys and vacations with that ammunition. “Honey, I’m going fishing at Cabo with the money we made last month”. Or, “Yesterday our house made $166.67 for us, let’s go out to that french restaurant.”
Now TemeculaGuy and other smart renters are “capitalizing” their future earnings, gained by waiting to buy, translating their future growing purchasing power into current wealth. Ya gotta love it.ParticipantBobS
Contraman: Sure, have your free-lance writer put a phone # or e-mail on this site and I’ll contact him or her. Perhaps other readers in my with HELOC’S reduced could chime in too.ParticipantBobS
Contraman: Sure, have your free-lance writer put a phone # or e-mail on this site and I’ll contact him or her. Perhaps other readers in my with HELOC’S reduced could chime in too.ParticipantBobS
Contraman: Sure, have your free-lance writer put a phone # or e-mail on this site and I’ll contact him or her. Perhaps other readers in my with HELOC’S reduced could chime in too.ParticipantBobS
Contraman: Sure, have your free-lance writer put a phone # or e-mail on this site and I’ll contact him or her. Perhaps other readers in my with HELOC’S reduced could chime in too.ParticipantBobS
Contraman: Sure, have your free-lance writer put a phone # or e-mail on this site and I’ll contact him or her. Perhaps other readers in my with HELOC’S reduced could chime in too.ParticipantBobS
The HELOC was a 90% LTV on a house, rented, with WaMu. It was not unexpected, and not unjustified.
I am still curious, as may be other readers about to face this situation, as to what would happen if I had fully tapped out my HELOC one week ago in anticipation of this.
Anybody know the answer?ParticipantBobS
The HELOC was a 90% LTV on a house, rented, with WaMu. It was not unexpected, and not unjustified.
I am still curious, as may be other readers about to face this situation, as to what would happen if I had fully tapped out my HELOC one week ago in anticipation of this.
Anybody know the answer?ParticipantBobS
The HELOC was a 90% LTV on a house, rented, with WaMu. It was not unexpected, and not unjustified.
I am still curious, as may be other readers about to face this situation, as to what would happen if I had fully tapped out my HELOC one week ago in anticipation of this.
Anybody know the answer?ParticipantBobS
The HELOC was a 90% LTV on a house, rented, with WaMu. It was not unexpected, and not unjustified.
I am still curious, as may be other readers about to face this situation, as to what would happen if I had fully tapped out my HELOC one week ago in anticipation of this.
Anybody know the answer?ParticipantBobS
The HELOC was a 90% LTV on a house, rented, with WaMu. It was not unexpected, and not unjustified.
I am still curious, as may be other readers about to face this situation, as to what would happen if I had fully tapped out my HELOC one week ago in anticipation of this.
Anybody know the answer? -
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