[NotCranky]

I really don’t see what the big deal is. They made a mistake,so what. Maybe they will learn a lot too. Only the armchair quarterbacks on a housing bubble blog could get worked up over this one.
I wonder what the pyschology behind that is? Some kind of superiorty trip or just sadism.
Just making friends!

[NotCranky]

http://www.sdcaa.com/
There is an organization like this practically everywhere. Membership is not expensive and might include a few discounts on the services you are looking for.

[NotCranky]

http://www.sdcaa.com/
There is an organization like this practically everywhere. Membership is not expensive and might include a few discounts on the services you are looking for.

[NotCranky]

You might be surprised how little the insurer cares.They will send out investigators but they have to have 100% proof and and the arsonist has to be someone with lots of money for them to care. The insurers interest is in denying the claim or getting “subrogation”. Both are practically impossible to do given the uselessness of law enforcement today and the defenses someone can put up against subrogation. Your premiums take care of the insurance company.Someone might get caught in this case but it is not the norm.

[NotCranky]

You might be surprised how little the insurer cares.They will send out investigators but they have to have 100% proof and and the arsonist has to be someone with lots of money for them to care. The insurers interest is in denying the claim or getting “subrogation”. Both are practically impossible to do given the uselessness of law enforcement today and the defenses someone can put up against subrogation. Your premiums take care of the insurance company.Someone might get caught in this case but it is not the norm.

[NotCranky]

DEADZONE,
If he doesn’t plan to live there in the future, then what is the point of hanging onto it?

Think about having a rental house free and clear in 15-20 years with market rent to supplement other retirement sources for as long as you live.Better cash flow starts soon too.
I call that the gift that keeps on giving!

[NotCranky]

DEADZONE,
If he doesn’t plan to live there in the future, then what is the point of hanging onto it?

Think about having a rental house free and clear in 15-20 years with market rent to supplement other retirement sources for as long as you live.Better cash flow starts soon too.
I call that the gift that keeps on giving!

[NotCranky]

Noone,

I thought of the 15 year refi- but left it out because he say’s he needs a downpayment in the not so distant future. I recommended he think about getting his future down payment out or lined up now and watching cash flow too, for future loan qualification. 15 year might hurt the cash flow in that scenario? If he has a really great fixed currently he might want to line up a HELOC.

YES there is risk. But with the heloc you don’t have to use it unless at a future date things looks so good for buying that it is a no brainer. Doesn’t involve paying so much in refi-fees and the original poster should have a rate that can’t be beat.

[NotCranky]

Noone,

I thought of the 15 year refi- but left it out because he say’s he needs a downpayment in the not so distant future. I recommended he think about getting his future down payment out or lined up now and watching cash flow too, for future loan qualification. 15 year might hurt the cash flow in that scenario? If he has a really great fixed currently he might want to line up a HELOC.

YES there is risk. But with the heloc you don’t have to use it unless at a future date things looks so good for buying that it is a no brainer. Doesn’t involve paying so much in refi-fees and the original poster should have a rate that can’t be beat.

[NotCranky]

Hi Jonny,
Yeah that’s ths story. Thanks for putting it up.
I “lurked” for close to 1 1/2 year before posting. I wonder what the record is?
Best Wishes

[NotCranky]

Hi Jonny,
Yeah that’s ths story. Thanks for putting it up.
I “lurked” for close to 1 1/2 year before posting. I wonder what the record is?
Best Wishes

[NotCranky]

I tend to agree with no-such-reality, That could be some nice retirement income and equity for you. That income on top of a miltary pension you would be in good shape. On the other hand you might sell it buy it back cheaper have better cash flow and pay it off faster. I Would say that given the information you have provided you are about as close to being on the fence on this issue as it comes. When in doubt keep it!
If you are going to have a hard time coming up with a down payment in the future why don’t you either refi-and get some cash out or shop for best heloc you can get and don’t use it unless you get a really great opportunity. Probably sounds like bad advice but you don’t want to get locked out of a true buyers market for lack of down payment. Keep in mind though, that a lender is going to knock 25% off the rent you are earning so to a lender that house is cash flow negative and hurts your ability to qualify for a new house later.Get rid of it!
Capital gains is a real deal killer. These posters are saying market has dropped significantly already. Keep it!
I would keep it.
It depends on your total financial picture. Smart of you to ask around though.
Best Wishes,

[NotCranky]

I tend to agree with no-such-reality, That could be some nice retirement income and equity for you. That income on top of a miltary pension you would be in good shape. On the other hand you might sell it buy it back cheaper have better cash flow and pay it off faster. I Would say that given the information you have provided you are about as close to being on the fence on this issue as it comes. When in doubt keep it!
If you are going to have a hard time coming up with a down payment in the future why don’t you either refi-and get some cash out or shop for best heloc you can get and don’t use it unless you get a really great opportunity. Probably sounds like bad advice but you don’t want to get locked out of a true buyers market for lack of down payment. Keep in mind though, that a lender is going to knock 25% off the rent you are earning so to a lender that house is cash flow negative and hurts your ability to qualify for a new house later.Get rid of it!
Capital gains is a real deal killer. These posters are saying market has dropped significantly already. Keep it!
I would keep it.
It depends on your total financial picture. Smart of you to ask around though.
Best Wishes,

[NotCranky]

I think I might have to call myself on lack of data before some one else does :)! An implosion was my street level perception and I would even say experience of what was happening. I do know that foreclosure and other data alone does not support what I am saying about a great early 90’s bust on a county wide level and I shall make a mental note to remember that.I think that would show a slide,county wide, through the 90’s with some extreme lows spread around in each year and then growing strength since around 98′. I am still tryin to figure out why the union tribune would have us believe that the median price decrease was something like 15% peak(89) to trough (98) I mistrust that and call it ” Revisionist” But I think I am starting to see the light as to why I could have seen what I did and a number like that isn’t a lie or at least not as big of a lie as I have been in the habit of believing it was. If my perception is not completely on track it may be skewed by the fact that I was of a “Bargain Hunting” mentality in general and more familiar with areas at that time that did in fact have some very large and broad price declines early on . It is that old logic problem of using the exceptions for the rule.It was ugly though!But that is about the last cycle and I can be wrong about this new one until proven otherwise!Faster and deeper it is!
Best wishes

[NotCranky]

I think I might have to call myself on lack of data before some one else does :)! An implosion was my street level perception and I would even say experience of what was happening. I do know that foreclosure and other data alone does not support what I am saying about a great early 90’s bust on a county wide level and I shall make a mental note to remember that.I think that would show a slide,county wide, through the 90’s with some extreme lows spread around in each year and then growing strength since around 98′. I am still tryin to figure out why the union tribune would have us believe that the median price decrease was something like 15% peak(89) to trough (98) I mistrust that and call it ” Revisionist” But I think I am starting to see the light as to why I could have seen what I did and a number like that isn’t a lie or at least not as big of a lie as I have been in the habit of believing it was. If my perception is not completely on track it may be skewed by the fact that I was of a “Bargain Hunting” mentality in general and more familiar with areas at that time that did in fact have some very large and broad price declines early on . It is that old logic problem of using the exceptions for the rule.It was ugly though!But that is about the last cycle and I can be wrong about this new one until proven otherwise!Faster and deeper it is!
Best wishes

[Author]

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