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June 24, 2012 at 10:23 AM in reply to: Loan mods not working… Really??? Kicking the can down the road doesn’t work??? Who would have thought… #746358
spdrun
ParticipantAm I forbidden from doing both? 😀
June 24, 2012 at 9:40 AM in reply to: Loan mods not working… Really??? Kicking the can down the road doesn’t work??? Who would have thought… #746356ParticipantIf you’re STUPID, you don’t have good luck.
People who mortgaged their firstborn to buy a house that it would be 50% cheaper to rent at the height of the bubble with no cash down, were STUPID. G-d helps those who help themselves.
I have no problem with wealth redistribution. But I also have no sympathy for the people who bought in the mid-2000s, because they should have thought for 2 seconds before following the lemmings off the cliff.
Lastly, if one bought with little to no cash down, they never really owned the property. More like leasing it from the bank. Leases are revocable.
ParticipantA lot of the very cheap “airport” places aren’t actually on the airport’s property, BTW.
ParticipantIf you’re paying for it yourself, go to Travelocity and plug in a two-week car rental period at the San Diego airport (SAN) – Advantage is $198 for 24 June through 8 July including taxes. Fox is about $225.
So more like $15/day 🙂
As far as insurance, yours may pay for it if you have collision/comp. Otherwise, you can try going after their insurance directly. I did that when some dumb bint hit my car in NJ — they paid book value + 10 days car rental after coming out and appraising my car less than 24 hrs after the crash.
ParticipantAs far as losing things in the drain, no reason why you couldn’t have a sink with a lip that’s elevated a bit above the rest of the counter.
June 23, 2012 at 5:58 PM in reply to: Loan mods not working… Really??? Kicking the can down the road doesn’t work??? Who would have thought… #746337ParticipantWhat about just doing a short sale, with the agreement that there would be no damage to credit? Everyone wins. Bank gets more money than foreclosure, the debtor keeps their credit intact, and some investor or homeowner gets a decent deal.
ParticipantThat’s what I meant: that the debt is deductible even if it’s greater than $100k. In some other cases, a $100k limit applies.
Participant^^^
Not necessarily — if you own it free and clear, draw from a HELOC on the property, and use those funds to buy an income-producing investment property, the amount of that debt can be deductible > $100k.
ParticipantThis is why I’ve been freelance for the past 5 years and planning to buy rental property for a steady base income.
If I had to work 8-6+ with two weeks of vacay per year, I’d probably break my boss’s nose in short order.
ParticipantDon’t come to NYC — my last apt had one of those on the bathroom wall 🙂
ParticipantSadly, the pencil pushers and HR parasites tend to figure out ways to stay relevant after everyone else is gone.
ParticipantSo in 2003, House 1 rent pays mortgage on condo,and rent from condo pays mortgage on principal residence. All of a sudden I control 3-300k properties, and have no payment now i am underwater on 2 of 3.
As long as you can live rent-free and fee-free, who cares if they’re underwater? You’re in a better situation than 90% of Americans.
And I’m sure that the printing of Bernanke Bucks will cause them to NOT be underwater in the next decade or so.
ParticipantMy colleague tell me while the defense budget for traditional “warfare” type of spending will go down, things like counter-intelligence will not.
And most of the military activity in the immediate DC area is one of two things:
* Administrative
* Support of gov’t agencies — i.e. executive flights from Andrews AFBThere are some stationed military units and training activity, but I don’t see those getting cut, since people will say they’re needed for security
ParticipantLook in … Northeast/Capitol Hill (SE)/Eastern Market (SE). Even as far as the Potomac Ave Metro stop.
And yes, a lot of people will tell you it’s a “bad” area, but it’s changed MASSIVELY in the past 10 years, so their knowledge is out of date.
Why not rent something for 3-6 months and wander around the city before jumping into buying? The market is very seasonal, and the fall market will be less hot anyway.
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