Forum Replies Created
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AuthorPosts
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meadandale
ParticipantMaking a change now will just realize what up until now are virtual losses.
You are young enough that I’d ride out your current positions but you may want to call your 401k administrator and ask that all FUTURE contributions be steered into different allocations (e.g. cash or bonds).
OTOH, now is also a GREAT time to buy as others flee the market. Everything is discounted; when the market turns around, which it eventually will, you’ll realized some nice returns.
OTOH, this crash could end up with us all living in cardboard boxes and money will have no value…..
ParticipantMaking a change now will just realize what up until now are virtual losses.
You are young enough that I’d ride out your current positions but you may want to call your 401k administrator and ask that all FUTURE contributions be steered into different allocations (e.g. cash or bonds).
OTOH, now is also a GREAT time to buy as others flee the market. Everything is discounted; when the market turns around, which it eventually will, you’ll realized some nice returns.
OTOH, this crash could end up with us all living in cardboard boxes and money will have no value…..
ParticipantMaking a change now will just realize what up until now are virtual losses.
You are young enough that I’d ride out your current positions but you may want to call your 401k administrator and ask that all FUTURE contributions be steered into different allocations (e.g. cash or bonds).
OTOH, now is also a GREAT time to buy as others flee the market. Everything is discounted; when the market turns around, which it eventually will, you’ll realized some nice returns.
OTOH, this crash could end up with us all living in cardboard boxes and money will have no value…..
Participant[quote=TheBreeze]It’s going to take a while for Obama to shrink government to a rational size given the enormity which it grew while Bush was President and the Republicans were in control of the Senate and the House of Representatives. Hopefully Obama can inspire state and local governments to shrink also.
IT’S GOING TO BE AN OBAMA NATION, BABY! SO LONG BIG-SPENDING, WAR-MONGERING, GOVERNMENT-EXPANDING REPUBLICANS! DON’T LET THE DOOR HIT YOU WHERE GOD SPLIT YOU! YEE-HAW!
[/quote]
Obama shrink government, that’s rich.
Fidel Obama is going to be a painful 4 years. Thankfully, there’s no way in hell he’ll get elected a second term, if he even makes it through one….
Participant[quote=TheBreeze]It’s going to take a while for Obama to shrink government to a rational size given the enormity which it grew while Bush was President and the Republicans were in control of the Senate and the House of Representatives. Hopefully Obama can inspire state and local governments to shrink also.
IT’S GOING TO BE AN OBAMA NATION, BABY! SO LONG BIG-SPENDING, WAR-MONGERING, GOVERNMENT-EXPANDING REPUBLICANS! DON’T LET THE DOOR HIT YOU WHERE GOD SPLIT YOU! YEE-HAW!
[/quote]
Obama shrink government, that’s rich.
Fidel Obama is going to be a painful 4 years. Thankfully, there’s no way in hell he’ll get elected a second term, if he even makes it through one….
Participant[quote=TheBreeze]It’s going to take a while for Obama to shrink government to a rational size given the enormity which it grew while Bush was President and the Republicans were in control of the Senate and the House of Representatives. Hopefully Obama can inspire state and local governments to shrink also.
IT’S GOING TO BE AN OBAMA NATION, BABY! SO LONG BIG-SPENDING, WAR-MONGERING, GOVERNMENT-EXPANDING REPUBLICANS! DON’T LET THE DOOR HIT YOU WHERE GOD SPLIT YOU! YEE-HAW!
[/quote]
Obama shrink government, that’s rich.
Fidel Obama is going to be a painful 4 years. Thankfully, there’s no way in hell he’ll get elected a second term, if he even makes it through one….
Participant[quote=TheBreeze]It’s going to take a while for Obama to shrink government to a rational size given the enormity which it grew while Bush was President and the Republicans were in control of the Senate and the House of Representatives. Hopefully Obama can inspire state and local governments to shrink also.
IT’S GOING TO BE AN OBAMA NATION, BABY! SO LONG BIG-SPENDING, WAR-MONGERING, GOVERNMENT-EXPANDING REPUBLICANS! DON’T LET THE DOOR HIT YOU WHERE GOD SPLIT YOU! YEE-HAW!
[/quote]
Obama shrink government, that’s rich.
Fidel Obama is going to be a painful 4 years. Thankfully, there’s no way in hell he’ll get elected a second term, if he even makes it through one….
Participant[quote=TheBreeze]It’s going to take a while for Obama to shrink government to a rational size given the enormity which it grew while Bush was President and the Republicans were in control of the Senate and the House of Representatives. Hopefully Obama can inspire state and local governments to shrink also.
IT’S GOING TO BE AN OBAMA NATION, BABY! SO LONG BIG-SPENDING, WAR-MONGERING, GOVERNMENT-EXPANDING REPUBLICANS! DON’T LET THE DOOR HIT YOU WHERE GOD SPLIT YOU! YEE-HAW!
[/quote]
Obama shrink government, that’s rich.
Fidel Obama is going to be a painful 4 years. Thankfully, there’s no way in hell he’ll get elected a second term, if he even makes it through one….
Participant[quote=yellow8yellowm]If you didn’t put any money down, you should not be getting help. Nobody should be getting help, but if somebody must be first in line to get it, it should be the people actually made a down payment and never took out a HELOC.
[/quote]Well…..I don’t necessarilly agree with this. Not that I need help to stay in my house, mind you. But this POV is a little generic.
I didn’t have any money to put down. After making $30k/year for a decade, I went back to school and got another degree. Shortly thereafter, my salary curve went much higher. I could afford a mortgage now but I didn’t have cash for a downpayment. It was hard enough to come up with $10k for closing costs. Remember, 20% of a $350k house is $70k. How many of you have $70k or more in liquid cash? I’d guess not that many.
However, I’ve put money into my house:
1) New roof ($6k)
2) Interior remodeling ($5k)
3) Paint ($5k)
4) New lawn ($1200)It would be tought to walk away because I now have ‘skin in the game’ in that I’ve spent money on the place above and beyond regular maintenance.
I’ve paid CASH for all of it. I’ve pulled NO money out of my house. However, what pisses me off is watching the market come down around me as all the people who overbought or took more equity out of their house than they should have driven property values into the ground. I did everything right (other than the DP) and I’d get screwed if I tried to sell now–and I bought in 2003, long before the top of the market.
Participant[quote=yellow8yellowm]If you didn’t put any money down, you should not be getting help. Nobody should be getting help, but if somebody must be first in line to get it, it should be the people actually made a down payment and never took out a HELOC.
[/quote]Well…..I don’t necessarilly agree with this. Not that I need help to stay in my house, mind you. But this POV is a little generic.
I didn’t have any money to put down. After making $30k/year for a decade, I went back to school and got another degree. Shortly thereafter, my salary curve went much higher. I could afford a mortgage now but I didn’t have cash for a downpayment. It was hard enough to come up with $10k for closing costs. Remember, 20% of a $350k house is $70k. How many of you have $70k or more in liquid cash? I’d guess not that many.
However, I’ve put money into my house:
1) New roof ($6k)
2) Interior remodeling ($5k)
3) Paint ($5k)
4) New lawn ($1200)It would be tought to walk away because I now have ‘skin in the game’ in that I’ve spent money on the place above and beyond regular maintenance.
I’ve paid CASH for all of it. I’ve pulled NO money out of my house. However, what pisses me off is watching the market come down around me as all the people who overbought or took more equity out of their house than they should have driven property values into the ground. I did everything right (other than the DP) and I’d get screwed if I tried to sell now–and I bought in 2003, long before the top of the market.
Participant[quote=yellow8yellowm]If you didn’t put any money down, you should not be getting help. Nobody should be getting help, but if somebody must be first in line to get it, it should be the people actually made a down payment and never took out a HELOC.
[/quote]Well…..I don’t necessarilly agree with this. Not that I need help to stay in my house, mind you. But this POV is a little generic.
I didn’t have any money to put down. After making $30k/year for a decade, I went back to school and got another degree. Shortly thereafter, my salary curve went much higher. I could afford a mortgage now but I didn’t have cash for a downpayment. It was hard enough to come up with $10k for closing costs. Remember, 20% of a $350k house is $70k. How many of you have $70k or more in liquid cash? I’d guess not that many.
However, I’ve put money into my house:
1) New roof ($6k)
2) Interior remodeling ($5k)
3) Paint ($5k)
4) New lawn ($1200)It would be tought to walk away because I now have ‘skin in the game’ in that I’ve spent money on the place above and beyond regular maintenance.
I’ve paid CASH for all of it. I’ve pulled NO money out of my house. However, what pisses me off is watching the market come down around me as all the people who overbought or took more equity out of their house than they should have driven property values into the ground. I did everything right (other than the DP) and I’d get screwed if I tried to sell now–and I bought in 2003, long before the top of the market.
Participant[quote=yellow8yellowm]If you didn’t put any money down, you should not be getting help. Nobody should be getting help, but if somebody must be first in line to get it, it should be the people actually made a down payment and never took out a HELOC.
[/quote]Well…..I don’t necessarilly agree with this. Not that I need help to stay in my house, mind you. But this POV is a little generic.
I didn’t have any money to put down. After making $30k/year for a decade, I went back to school and got another degree. Shortly thereafter, my salary curve went much higher. I could afford a mortgage now but I didn’t have cash for a downpayment. It was hard enough to come up with $10k for closing costs. Remember, 20% of a $350k house is $70k. How many of you have $70k or more in liquid cash? I’d guess not that many.
However, I’ve put money into my house:
1) New roof ($6k)
2) Interior remodeling ($5k)
3) Paint ($5k)
4) New lawn ($1200)It would be tought to walk away because I now have ‘skin in the game’ in that I’ve spent money on the place above and beyond regular maintenance.
I’ve paid CASH for all of it. I’ve pulled NO money out of my house. However, what pisses me off is watching the market come down around me as all the people who overbought or took more equity out of their house than they should have driven property values into the ground. I did everything right (other than the DP) and I’d get screwed if I tried to sell now–and I bought in 2003, long before the top of the market.
Participant[quote=yellow8yellowm]If you didn’t put any money down, you should not be getting help. Nobody should be getting help, but if somebody must be first in line to get it, it should be the people actually made a down payment and never took out a HELOC.
[/quote]Well…..I don’t necessarilly agree with this. Not that I need help to stay in my house, mind you. But this POV is a little generic.
I didn’t have any money to put down. After making $30k/year for a decade, I went back to school and got another degree. Shortly thereafter, my salary curve went much higher. I could afford a mortgage now but I didn’t have cash for a downpayment. It was hard enough to come up with $10k for closing costs. Remember, 20% of a $350k house is $70k. How many of you have $70k or more in liquid cash? I’d guess not that many.
However, I’ve put money into my house:
1) New roof ($6k)
2) Interior remodeling ($5k)
3) Paint ($5k)
4) New lawn ($1200)It would be tought to walk away because I now have ‘skin in the game’ in that I’ve spent money on the place above and beyond regular maintenance.
I’ve paid CASH for all of it. I’ve pulled NO money out of my house. However, what pisses me off is watching the market come down around me as all the people who overbought or took more equity out of their house than they should have driven property values into the ground. I did everything right (other than the DP) and I’d get screwed if I tried to sell now–and I bought in 2003, long before the top of the market.
ParticipantI agree. It’s nonsense. I don’t support either of them. Hopefully the next 4 years with Obama driving his socialist agenda is over quickly,.
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