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(former)FormerSanDiegan
ParticipantThe response below is left intentionally blank
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November 19, 2009 at 8:04 AM in reply to: When does it make financial sense to just dump your house??? #484270Participant23109VC –
I think you and your wife have made the best choice, both personally and financially to stay in the house. You are effectively living in a place permanently at roughly the cost of rent today. There are others in much worse predicaments.As for having any aggravation over those getting big houses for less … Why not compute the cash value of the break you got on your first mortgage and thank your lucky stars. The bank actually gave you a gift that’s likely worth 6 figures.
If the initial rate was 7% and they have permanently reduced it to 5%, that’s about $140 K in savings over a 30-year loan.
Good for you.
November 19, 2009 at 8:04 AM in reply to: When does it make financial sense to just dump your house??? #484436Participant23109VC –
I think you and your wife have made the best choice, both personally and financially to stay in the house. You are effectively living in a place permanently at roughly the cost of rent today. There are others in much worse predicaments.As for having any aggravation over those getting big houses for less … Why not compute the cash value of the break you got on your first mortgage and thank your lucky stars. The bank actually gave you a gift that’s likely worth 6 figures.
If the initial rate was 7% and they have permanently reduced it to 5%, that’s about $140 K in savings over a 30-year loan.
Good for you.
November 19, 2009 at 8:04 AM in reply to: When does it make financial sense to just dump your house??? #484809Participant23109VC –
I think you and your wife have made the best choice, both personally and financially to stay in the house. You are effectively living in a place permanently at roughly the cost of rent today. There are others in much worse predicaments.As for having any aggravation over those getting big houses for less … Why not compute the cash value of the break you got on your first mortgage and thank your lucky stars. The bank actually gave you a gift that’s likely worth 6 figures.
If the initial rate was 7% and they have permanently reduced it to 5%, that’s about $140 K in savings over a 30-year loan.
Good for you.
November 19, 2009 at 8:04 AM in reply to: When does it make financial sense to just dump your house??? #484895Participant23109VC –
I think you and your wife have made the best choice, both personally and financially to stay in the house. You are effectively living in a place permanently at roughly the cost of rent today. There are others in much worse predicaments.As for having any aggravation over those getting big houses for less … Why not compute the cash value of the break you got on your first mortgage and thank your lucky stars. The bank actually gave you a gift that’s likely worth 6 figures.
If the initial rate was 7% and they have permanently reduced it to 5%, that’s about $140 K in savings over a 30-year loan.
Good for you.
November 19, 2009 at 8:04 AM in reply to: When does it make financial sense to just dump your house??? #485122Participant23109VC –
I think you and your wife have made the best choice, both personally and financially to stay in the house. You are effectively living in a place permanently at roughly the cost of rent today. There are others in much worse predicaments.As for having any aggravation over those getting big houses for less … Why not compute the cash value of the break you got on your first mortgage and thank your lucky stars. The bank actually gave you a gift that’s likely worth 6 figures.
If the initial rate was 7% and they have permanently reduced it to 5%, that’s about $140 K in savings over a 30-year loan.
Good for you.
November 17, 2009 at 8:54 AM in reply to: When does it make financial sense to just dump your house??? #483570ParticipantBased on the numbers you posted, the after tax difference between staying in your house and renting is about equal to or less than a typical car payment.
In your shoes, I would give up that few hundred per month to avoid landlords, moving hassles, and a place to call home. I know $150K is a lot of money, but in the grand scheme of things, it is not.
November 17, 2009 at 8:54 AM in reply to: When does it make financial sense to just dump your house??? #483733ParticipantBased on the numbers you posted, the after tax difference between staying in your house and renting is about equal to or less than a typical car payment.
In your shoes, I would give up that few hundred per month to avoid landlords, moving hassles, and a place to call home. I know $150K is a lot of money, but in the grand scheme of things, it is not.
November 17, 2009 at 8:54 AM in reply to: When does it make financial sense to just dump your house??? #484109ParticipantBased on the numbers you posted, the after tax difference between staying in your house and renting is about equal to or less than a typical car payment.
In your shoes, I would give up that few hundred per month to avoid landlords, moving hassles, and a place to call home. I know $150K is a lot of money, but in the grand scheme of things, it is not.
November 17, 2009 at 8:54 AM in reply to: When does it make financial sense to just dump your house??? #484193ParticipantBased on the numbers you posted, the after tax difference between staying in your house and renting is about equal to or less than a typical car payment.
In your shoes, I would give up that few hundred per month to avoid landlords, moving hassles, and a place to call home. I know $150K is a lot of money, but in the grand scheme of things, it is not.
November 17, 2009 at 8:54 AM in reply to: When does it make financial sense to just dump your house??? #484420ParticipantBased on the numbers you posted, the after tax difference between staying in your house and renting is about equal to or less than a typical car payment.
In your shoes, I would give up that few hundred per month to avoid landlords, moving hassles, and a place to call home. I know $150K is a lot of money, but in the grand scheme of things, it is not.
Participantdoublewise – What would you do in the landlord’s situation ?
I do think four consecutive weekends of open house is excessive. But, I wouldn’t go out of my way to make life miserable for the landlord. Why not ask for a discount in rent in exchange for allowing a limited number of showings with at least 24 hours notice. e.g. – showings only after an accepted offer. This is quite common for tenant-occupied property.
If I were the owner I would let you out of your lease.
I would try to work with them after they realize they can’t bully you around.
Participantdoublewise – What would you do in the landlord’s situation ?
I do think four consecutive weekends of open house is excessive. But, I wouldn’t go out of my way to make life miserable for the landlord. Why not ask for a discount in rent in exchange for allowing a limited number of showings with at least 24 hours notice. e.g. – showings only after an accepted offer. This is quite common for tenant-occupied property.
If I were the owner I would let you out of your lease.
I would try to work with them after they realize they can’t bully you around.
Participantdoublewise – What would you do in the landlord’s situation ?
I do think four consecutive weekends of open house is excessive. But, I wouldn’t go out of my way to make life miserable for the landlord. Why not ask for a discount in rent in exchange for allowing a limited number of showings with at least 24 hours notice. e.g. – showings only after an accepted offer. This is quite common for tenant-occupied property.
If I were the owner I would let you out of your lease.
I would try to work with them after they realize they can’t bully you around.
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