Dear folks who wish you owned your own home

[GWguy]

It does make sense what he is saying. I mean Damn he is only 48 and OWNS his home, not only that, instead of blowing the money he is putting it in the bank. Sounds like a plan to me.

Not everything in life is all about investing and earning that last dollar possible. You make a good plan, stick to it and you'll always stay ahead. In spite of a divorce, I'm still just about to pay mine off, never considered bankruptcy.

Yes, I'm single too...

 

[kom526]

Ahh he must own a really big boat then. LOL

That's what he likes to say to the ladies.

 

[TrueSOMDGirl]

Not everything in life is all about investing and earning that last dollar possible. You make a good plan, stick to it and you'll always stay ahead. In spite of a divorce, I'm still just about to pay mine off, never considered bankruptcy.

Yes, I'm single too...

But see, you have a good plan too! Divorce sucks, and you still are at the point of paying off your home soon, that is something to be really proud of, especially during these times.

 

[TrueSOMDGirl]

That's what he likes to say to the ladies.

 

[GWguy]

Yes, I'm single too...

But see, you have a good plan too! Divorce sucks, and you still are at the point of paying off your home soon, that is something to be really proud of, especially during these times.

She didn't take the hint...... nutz.



NEXT!!!!

 

[TrueSOMDGirl]

She didn't take the hint...... nutz.



NEXT!!!!

I did I send you a beer!

 

[somdrenter]

Ignore the little kid Two-er (it's ppl like him that make me harsh) and think for yourself. You seem pretty smart so ask yourself these questions:

• Do I want to be 35, 40, 45 or 50 years old and not own my home?
• Do I want to be any of those ages and be facing a 30 year mortgage?
• Do I want to be any of those ages and be sending a couple thousand per month to a landlord (paying off HIS mortgage)?

I am 48 and paid off my home last year. The only thing I owe are taxes and utilities. That old mortgage payment now gows into an interest bearing account for me to do with what I wish. Some people cannot grasp the beauty of this and think you should be sending your money to a landlord.

Keep in mind, Baja is a pre-bubble buyer at pre-bubble prices. You're smart enough to ask questions TrueSOMDGirl, but it makes me wonder how you've gone for so long not knowing about the housing bubble and its effects on the economy. I say do some more research and never stop asking questions... You should be in no hurry, plenty of foreclosures and mortgage re-sets to go through before this thing turns around.

 

[TrueSOMDGirl]

Keep in mind, Baja is a pre-bubble buyer at pre-bubble prices. You're smart enough to ask questions TrueSOMDGirl, but it makes me wonder how you've gone for so long not knowing about the housing bubble and its effects on the economy. I say do some more research and never stop asking questions... You should be in no hurry, plenty of foreclosures and mortgage re-sets to go through before this thing turns around.

eh I brought a house that I liked for the price I liked, then because of job decided to sell and rent because it was easier.

 

[somdrenter]

Might not have to pay for it after all...

Bank of America steps up foreclosure prevention efforts
By Les Christie, staff writerJanuary 26, 2010: 6:23 PM ET

NEW YORK (CNNMoney.com) -- One roadblock slowing President Obama's foreclosure prevention program seems to be clearing away. Bank of America, the nation's largest mortgage lender, said Tuesday that it was the first lender to agree to lower or eliminate payments on second mortgages.

Boost for Obama's foreclosure prevention program - Jan. 26, 2010

 

[Penn]

I just posted in another thread, that I had secured - today - a 20 year note, refinancing my home, at an interest(APR) of 4.875%. That is going to make things a lot easier, should our tax rates go up, as a result of our exalted leader's spending tendencies.

Don't know how bad the tax rates will get, but a few extra bucks will surely help! Whew, what good luck I ran into!

 

[somdrenter]

I just posted in another thread, that I had secured - today - a 20 year note, refinancing my home, at an interest(APR) of 4.875%. That is going to make things a lot easier, should our tax rates go up, as a result of our exalted leader's spending tendencies.

Don't know how bad the tax rates will get, but a few extra bucks will surely help! Whew, what good luck I ran into!

You couldn't get the bank to eliminate the payments?

 

[TrueSOMDGirl]

You couldn't get the bank to eliminate the payments?

Why have them elimnate payments if you are fully capable of paying them?
I would think that is for people who truly cannot pay, and people should not take advantage.

 

[Penn]

Why have them elimnate payments if you are fully capable of paying them?
I would think that is for people who truly cannot pay, and people should not take advantage.

The method I have set up is, the bank/lending institution pays for my state and county taxes, as well as my homeowners insurance, payments of that nature. I have it set up also, that the payment request(monthly mortgage) is sent electronically to my savings bank account, and the bank makes the payment for me, by wire/electronically, as well.

All I have to do is monitor the monthly statement, by mail or on my PC. The new refinance loan will operate the same way, I was assured, by the new bank/lending institution representative.

 

[jetmonkey]

I just posted in another thread, that I had secured - today - a 20 year note, refinancing my home, at an interest(APR) of 4.875%. That is going to make things a lot easier, should our tax rates go up, as a result of our exalted leader's spending tendencies.

Don't know how bad the tax rates will get, but a few extra bucks will surely help! Whew, what good luck I ran into!

That seems a little optimistic.

 

[TrueSOMDGirl]

The method I have set up is, the bank/lending institution pays for my state and county taxes, as well as my homeowners insurance, payments of that nature. I have it set up also, that the payment request(monthly mortgage) is sent electronically to my savings bank account, and the bank makes the payment for me, by wire/electronically, as well.

All I have to do is monitor the monthly statement, by mail or on my PC. The new refinance loan will operate the same way, I was assured, by the new bank/lending institution representative.

Ahh thanks!

 

[somdrenter]

Why have them elimnate payments if you are fully capable of paying them?
I would think that is for people who truly cannot pay, and people should not take advantage.

From each according to his ability, to each according to his need.

 

[jetmonkey]

From each according to his ability, to each according to his need.

Marx gets quoted a lot in this forum.

 

[somdrenter]

Home prices fell 12% in 2009

NEW YORK (CNNMoney.com) -- The real estate roller-coaster ride continued last year as the median price of U.S. single-family home plunged 11.9% to $173,200.

The housing situation had been looking up earlier in the year, with prices gaining ground in the first nine months. But the increases weren't enough to push the median home price above 2008's bar of $196,600, according to the National Association of Realtors.

And then, prices fell in the fourth quarter, dropping 2.9% compared to the previous three months and 4.1% compared to the last quarter of 2008.

Home prices fell 12% in 2009 - Feb. 11, 2010

 

[Two-er]

Home prices fell 12% in 2009 - Feb. 11, 2010

Actually, DC area homes increased in value 3.8% last year.

Seems like a windfall until you consider that the S&P 500 earned 26.46% last year.

 

[somdrenter]

Actually, DC area homes increased in value 3.8% last year.

Seems like a windfall until you consider that the S&P 500 earned 26.46% last year.

At $306k, that puts D.C. back up to 2003 prices...