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May 17, 2011 at 7:47 AM in reply to: GSE limits slated to drop (PLUS bonus question for mortgage experts) #696542May 17, 2011 at 7:47 AM in reply to: GSE limits slated to drop (PLUS bonus question for mortgage experts) #696689
UCGal
Participant[quote=walterwhite]when i was younger and dumber, and had just started working, I counted up my credit card credit line, and it was just under $200,000. My salary was just about 1/6 of that. I counted the 200k as sort of an asset. I also contemplated borrowing it all, using it to aggressively attempt to build a business and defaulting if I failed. it seemed like a no-lose proposition. I didn’t do that because I was concerned about bankruptcy, potential fraud allegations; it just wasn’t for me, but I am very very conservative. But it was certainly out there for usage and it definitely crossed my mind to use it in a risky way to try to get going in life.[/quote]
I know people who’ve done just this – maxed out their credit cards on a business gamble. Only one succeeded… the rest ended up with crappy credit for years.I was given several credit cards in college. I had very limited income (like $10k/year) but they gave me more than $10k in credit. I traveled. I had a good time. I figured if they were dumb enough to give me credit, I was going to have fun. I regret that debt – took me close to a decade to retire all that debt.
But it wasn’t an asset. It was potential debt. Which I stupidly converted to actual debt.
May 17, 2011 at 7:47 AM in reply to: GSE limits slated to drop (PLUS bonus question for mortgage experts) #697043Participant[quote=walterwhite]when i was younger and dumber, and had just started working, I counted up my credit card credit line, and it was just under $200,000. My salary was just about 1/6 of that. I counted the 200k as sort of an asset. I also contemplated borrowing it all, using it to aggressively attempt to build a business and defaulting if I failed. it seemed like a no-lose proposition. I didn’t do that because I was concerned about bankruptcy, potential fraud allegations; it just wasn’t for me, but I am very very conservative. But it was certainly out there for usage and it definitely crossed my mind to use it in a risky way to try to get going in life.[/quote]
I know people who’ve done just this – maxed out their credit cards on a business gamble. Only one succeeded… the rest ended up with crappy credit for years.I was given several credit cards in college. I had very limited income (like $10k/year) but they gave me more than $10k in credit. I traveled. I had a good time. I figured if they were dumb enough to give me credit, I was going to have fun. I regret that debt – took me close to a decade to retire all that debt.
But it wasn’t an asset. It was potential debt. Which I stupidly converted to actual debt.
ParticipantI have family in Kentucky. There’s a reason it’s called the “Blue Grass” state. It’s the 2nd largest producing state. (CA is #1).
They say it’s actually the biggest cash crop in that state. Can you imagine the changing dynamics of Kentucky if it were legalized?
ParticipantI have family in Kentucky. There’s a reason it’s called the “Blue Grass” state. It’s the 2nd largest producing state. (CA is #1).
They say it’s actually the biggest cash crop in that state. Can you imagine the changing dynamics of Kentucky if it were legalized?
ParticipantI have family in Kentucky. There’s a reason it’s called the “Blue Grass” state. It’s the 2nd largest producing state. (CA is #1).
They say it’s actually the biggest cash crop in that state. Can you imagine the changing dynamics of Kentucky if it were legalized?
ParticipantI have family in Kentucky. There’s a reason it’s called the “Blue Grass” state. It’s the 2nd largest producing state. (CA is #1).
They say it’s actually the biggest cash crop in that state. Can you imagine the changing dynamics of Kentucky if it were legalized?
ParticipantI have family in Kentucky. There’s a reason it’s called the “Blue Grass” state. It’s the 2nd largest producing state. (CA is #1).
They say it’s actually the biggest cash crop in that state. Can you imagine the changing dynamics of Kentucky if it were legalized?
Participant[quote=Raybyrnes]1.4 to 485. Does that make any sense
Property History
Date Event Price Appreciation Source
May 06, 2011 Sold (Public Records) $485,000 -94.6%/yr Public Records
Dec 22, 2010 Sold (Public Records) $1,430,000 -7.6%/yr Public Records
Dec 22, 2010 Sold (MLS) (Sold) $1,429,753 — Inactive SANDICOR #100061753
Oct 27, 2010 Pending (Contingent) — — Inactive SANDICOR #100061753
Oct 18, 2010 Listed (Active) $1,399,900 — Inactive SANDICOR #100061753
Aug 10, 2010 Sold (Public Records)
This home was foreclosedand bank-owned
. $1,571,249 — Public Records
Feb 28, 2007 Sold (Public Records) $1,933,000 7.1%/yr Public Records
Feb 10, 1988 Sold (Public Records) $525,000 — Public Records[/quote]
That one does look interesting… but I don’t think fraud was involved.I looked up the parcel number – and got the prop tax payers names… and plugged them into a grant deed search. It appears that the most recent “sale” was a buyout between two family members. Not arms length – and one of the previous owners still owns it, just not jointly…
At least that’s what it looked like on a cursory look.Participant[quote=Raybyrnes]1.4 to 485. Does that make any sense
Property History
Date Event Price Appreciation Source
May 06, 2011 Sold (Public Records) $485,000 -94.6%/yr Public Records
Dec 22, 2010 Sold (Public Records) $1,430,000 -7.6%/yr Public Records
Dec 22, 2010 Sold (MLS) (Sold) $1,429,753 — Inactive SANDICOR #100061753
Oct 27, 2010 Pending (Contingent) — — Inactive SANDICOR #100061753
Oct 18, 2010 Listed (Active) $1,399,900 — Inactive SANDICOR #100061753
Aug 10, 2010 Sold (Public Records)
This home was foreclosedand bank-owned
. $1,571,249 — Public Records
Feb 28, 2007 Sold (Public Records) $1,933,000 7.1%/yr Public Records
Feb 10, 1988 Sold (Public Records) $525,000 — Public Records[/quote]
That one does look interesting… but I don’t think fraud was involved.I looked up the parcel number – and got the prop tax payers names… and plugged them into a grant deed search. It appears that the most recent “sale” was a buyout between two family members. Not arms length – and one of the previous owners still owns it, just not jointly…
At least that’s what it looked like on a cursory look.Participant[quote=Raybyrnes]1.4 to 485. Does that make any sense
Property History
Date Event Price Appreciation Source
May 06, 2011 Sold (Public Records) $485,000 -94.6%/yr Public Records
Dec 22, 2010 Sold (Public Records) $1,430,000 -7.6%/yr Public Records
Dec 22, 2010 Sold (MLS) (Sold) $1,429,753 — Inactive SANDICOR #100061753
Oct 27, 2010 Pending (Contingent) — — Inactive SANDICOR #100061753
Oct 18, 2010 Listed (Active) $1,399,900 — Inactive SANDICOR #100061753
Aug 10, 2010 Sold (Public Records)
This home was foreclosedand bank-owned
. $1,571,249 — Public Records
Feb 28, 2007 Sold (Public Records) $1,933,000 7.1%/yr Public Records
Feb 10, 1988 Sold (Public Records) $525,000 — Public Records[/quote]
That one does look interesting… but I don’t think fraud was involved.I looked up the parcel number – and got the prop tax payers names… and plugged them into a grant deed search. It appears that the most recent “sale” was a buyout between two family members. Not arms length – and one of the previous owners still owns it, just not jointly…
At least that’s what it looked like on a cursory look.Participant[quote=Raybyrnes]1.4 to 485. Does that make any sense
Property History
Date Event Price Appreciation Source
May 06, 2011 Sold (Public Records) $485,000 -94.6%/yr Public Records
Dec 22, 2010 Sold (Public Records) $1,430,000 -7.6%/yr Public Records
Dec 22, 2010 Sold (MLS) (Sold) $1,429,753 — Inactive SANDICOR #100061753
Oct 27, 2010 Pending (Contingent) — — Inactive SANDICOR #100061753
Oct 18, 2010 Listed (Active) $1,399,900 — Inactive SANDICOR #100061753
Aug 10, 2010 Sold (Public Records)
This home was foreclosedand bank-owned
. $1,571,249 — Public Records
Feb 28, 2007 Sold (Public Records) $1,933,000 7.1%/yr Public Records
Feb 10, 1988 Sold (Public Records) $525,000 — Public Records[/quote]
That one does look interesting… but I don’t think fraud was involved.I looked up the parcel number – and got the prop tax payers names… and plugged them into a grant deed search. It appears that the most recent “sale” was a buyout between two family members. Not arms length – and one of the previous owners still owns it, just not jointly…
At least that’s what it looked like on a cursory look.Participant[quote=Raybyrnes]1.4 to 485. Does that make any sense
Property History
Date Event Price Appreciation Source
May 06, 2011 Sold (Public Records) $485,000 -94.6%/yr Public Records
Dec 22, 2010 Sold (Public Records) $1,430,000 -7.6%/yr Public Records
Dec 22, 2010 Sold (MLS) (Sold) $1,429,753 — Inactive SANDICOR #100061753
Oct 27, 2010 Pending (Contingent) — — Inactive SANDICOR #100061753
Oct 18, 2010 Listed (Active) $1,399,900 — Inactive SANDICOR #100061753
Aug 10, 2010 Sold (Public Records)
This home was foreclosedand bank-owned
. $1,571,249 — Public Records
Feb 28, 2007 Sold (Public Records) $1,933,000 7.1%/yr Public Records
Feb 10, 1988 Sold (Public Records) $525,000 — Public Records[/quote]
That one does look interesting… but I don’t think fraud was involved.I looked up the parcel number – and got the prop tax payers names… and plugged them into a grant deed search. It appears that the most recent “sale” was a buyout between two family members. Not arms length – and one of the previous owners still owns it, just not jointly…
At least that’s what it looked like on a cursory look.ParticipantGood to know. Sounds like I need to keep a costco size bottle of Hydrogen peroxide around – just in case… (already have dishsoap and baking soda.)
ParticipantGood to know. Sounds like I need to keep a costco size bottle of Hydrogen peroxide around – just in case… (already have dishsoap and baking soda.)
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