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peterb
ParticipantHere’s the homeowner “Bailout” for those of you upside down in your property. Stop paying the mortgage and save the money for a new place. I cant be the only one who thought of this. Banks are so hesitant to take action that you could stay in your house for over a year, rent free. Maybe longer. But you’ll need to protect your credit rating somehow. Maybe the wife gets arms length from the house and keeps her FICO in good shape? Not sure about this part.
Anyway, you’ll get at least 2 weeks notice before a physical eviction and a month or so on the written. Plenty of time to “bailout” before the sherrif arrives.Hey, if you have a HELOC, drain it out to a bank account and have that much more to buy with.
ParticipantHere’s the homeowner “Bailout” for those of you upside down in your property. Stop paying the mortgage and save the money for a new place. I cant be the only one who thought of this. Banks are so hesitant to take action that you could stay in your house for over a year, rent free. Maybe longer. But you’ll need to protect your credit rating somehow. Maybe the wife gets arms length from the house and keeps her FICO in good shape? Not sure about this part.
Anyway, you’ll get at least 2 weeks notice before a physical eviction and a month or so on the written. Plenty of time to “bailout” before the sherrif arrives.Hey, if you have a HELOC, drain it out to a bank account and have that much more to buy with.
ParticipantHere’s the homeowner “Bailout” for those of you upside down in your property. Stop paying the mortgage and save the money for a new place. I cant be the only one who thought of this. Banks are so hesitant to take action that you could stay in your house for over a year, rent free. Maybe longer. But you’ll need to protect your credit rating somehow. Maybe the wife gets arms length from the house and keeps her FICO in good shape? Not sure about this part.
Anyway, you’ll get at least 2 weeks notice before a physical eviction and a month or so on the written. Plenty of time to “bailout” before the sherrif arrives.Hey, if you have a HELOC, drain it out to a bank account and have that much more to buy with.
ParticipantWow. It sounds like rental prices have come down a little in the last year for this area. Can anyone verify this? Or am I smoking something? Dont answer that.
ParticipantWow. It sounds like rental prices have come down a little in the last year for this area. Can anyone verify this? Or am I smoking something? Dont answer that.
ParticipantWow. It sounds like rental prices have come down a little in the last year for this area. Can anyone verify this? Or am I smoking something? Dont answer that.
ParticipantWow. It sounds like rental prices have come down a little in the last year for this area. Can anyone verify this? Or am I smoking something? Dont answer that.
ParticipantWow. It sounds like rental prices have come down a little in the last year for this area. Can anyone verify this? Or am I smoking something? Dont answer that.
ParticipantYes, I think stockstradr is right about the panic aspect. Deflationary pressure is a real price killer. if you look at gold in most recessions, it goes down with everything else. And esmith as well about the valuation aspect. But Bob Hoye, the walking economic history encyclopedia, points out that after a massive credit bubble has burst like in 1873 and 1929, gold does very well in real terms. Well, it’s a little hard to tell in 1933 because FDR raised the price from $21 to $35 over night. And in a depression, no less!!
But he claims that central banks will become so crazy with currency creation in an effort to “solve” the problem that people will lose faith in the currencies and go back to gold as in a defacto standard of the market.
No one can predict the future, but I do see central bankers going nuts and I do see massive deflation as well. So, if gold gets in the $700’s I’ll probably increase my position. But in the meantime, the US$ is treating me ok. But it wasnt for 4 years! I guess timing really is everything.ParticipantYes, I think stockstradr is right about the panic aspect. Deflationary pressure is a real price killer. if you look at gold in most recessions, it goes down with everything else. And esmith as well about the valuation aspect. But Bob Hoye, the walking economic history encyclopedia, points out that after a massive credit bubble has burst like in 1873 and 1929, gold does very well in real terms. Well, it’s a little hard to tell in 1933 because FDR raised the price from $21 to $35 over night. And in a depression, no less!!
But he claims that central banks will become so crazy with currency creation in an effort to “solve” the problem that people will lose faith in the currencies and go back to gold as in a defacto standard of the market.
No one can predict the future, but I do see central bankers going nuts and I do see massive deflation as well. So, if gold gets in the $700’s I’ll probably increase my position. But in the meantime, the US$ is treating me ok. But it wasnt for 4 years! I guess timing really is everything.ParticipantYes, I think stockstradr is right about the panic aspect. Deflationary pressure is a real price killer. if you look at gold in most recessions, it goes down with everything else. And esmith as well about the valuation aspect. But Bob Hoye, the walking economic history encyclopedia, points out that after a massive credit bubble has burst like in 1873 and 1929, gold does very well in real terms. Well, it’s a little hard to tell in 1933 because FDR raised the price from $21 to $35 over night. And in a depression, no less!!
But he claims that central banks will become so crazy with currency creation in an effort to “solve” the problem that people will lose faith in the currencies and go back to gold as in a defacto standard of the market.
No one can predict the future, but I do see central bankers going nuts and I do see massive deflation as well. So, if gold gets in the $700’s I’ll probably increase my position. But in the meantime, the US$ is treating me ok. But it wasnt for 4 years! I guess timing really is everything.ParticipantYes, I think stockstradr is right about the panic aspect. Deflationary pressure is a real price killer. if you look at gold in most recessions, it goes down with everything else. And esmith as well about the valuation aspect. But Bob Hoye, the walking economic history encyclopedia, points out that after a massive credit bubble has burst like in 1873 and 1929, gold does very well in real terms. Well, it’s a little hard to tell in 1933 because FDR raised the price from $21 to $35 over night. And in a depression, no less!!
But he claims that central banks will become so crazy with currency creation in an effort to “solve” the problem that people will lose faith in the currencies and go back to gold as in a defacto standard of the market.
No one can predict the future, but I do see central bankers going nuts and I do see massive deflation as well. So, if gold gets in the $700’s I’ll probably increase my position. But in the meantime, the US$ is treating me ok. But it wasnt for 4 years! I guess timing really is everything.ParticipantYes, I think stockstradr is right about the panic aspect. Deflationary pressure is a real price killer. if you look at gold in most recessions, it goes down with everything else. And esmith as well about the valuation aspect. But Bob Hoye, the walking economic history encyclopedia, points out that after a massive credit bubble has burst like in 1873 and 1929, gold does very well in real terms. Well, it’s a little hard to tell in 1933 because FDR raised the price from $21 to $35 over night. And in a depression, no less!!
But he claims that central banks will become so crazy with currency creation in an effort to “solve” the problem that people will lose faith in the currencies and go back to gold as in a defacto standard of the market.
No one can predict the future, but I do see central bankers going nuts and I do see massive deflation as well. So, if gold gets in the $700’s I’ll probably increase my position. But in the meantime, the US$ is treating me ok. But it wasnt for 4 years! I guess timing really is everything.ParticipantThe big fluctuations in gold are panic driven and dont last very long. But in the long haul, gold is the honest value of FIAT currencies. So from a store of value point of view, it’s a good investment foundation.
It has done exceptionally well lately when you compare it to other commodities. If it holds up in price, the mining companies can make good incomes again. Especially if oil trends down. Mines are energy intensive ventures. But there are some strong arquements that gold is in a rising bubble formation. But from a historical analysis, gold rises in real terms after a huge credit bubble bursts and we get strong liquidation pressure. This may occur as early as late October through to December. And right now the technicians are saying it’s very “over bought”. So I would not be surprised to see it drop for a few weeks or longer. At which time I will probably buy more as the world currencies look unstable going forward.
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