The economy, is it good or bad. (Page 62/181)
84fiero123 OCT 07, 08:55 AM
What about all the people who didn’t credit themselves to bankruptcy? And lost all the equity in their homes they bought before the housing boom.

Now they have a home worth less than they paid for it because of all the bankruptcies going on around them, yet they did it right. Are they not victims too?

Is your home paid for Ace?

If not you may be in the same boat as those people, your home may loose all that equity you tried to build up.

Now are you a victim?

The people who did it right and are still loosing what they worked hard for, they are loosing to.

This works against all of us. All these bankruptcies are deflating the values of even those who bought before the housing boom.

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Technology is great when it works,
and one big pain in the ass when it doesn't.
Detroit iron rules all the rest are just toys.

aceman OCT 07, 09:06 AM
Read my post. I layed my housing example out there for you to read.

Bought for $105,000
Owe: $95,000
Owe: $10,000 (Home Improvement loan. Replaced sewer, carpet and put in egress window)
Value 2 yrs ago: $225,000
Value today: $190,000
Probably Sale price: $175,000
Real Estate Fees: $10,000

I'm still walking away with $50,000-$75,000. I bought a home, not an investment property. I stayed in my home for 8 years and I'm selling only because I moved 400 miles away.

Houses are not losing their values to those that bought smartly. Most people in a NORMAL housing market are going to "lose" money if they're only in a house for 1-3 years.

To make it really clear.........I could sell my $190,000 market valued house for $130,000 and still walk away with cash in my pocket!!!!!!!!! These people that bought when the market was high maybe should have rented and waited for the market to adjust.

[This message has been edited by aceman (edited 10-07-2007).]

FrugalFiero OCT 07, 09:11 AM

quote
Originally posted by 84Bill:

So if I set a trap... and you walk into it and it utterly destroys your life.... then it's your fault for walking into it?




If you walk into a trap...and it utterly destroys your life...and I know how to avoid the trap...am I financially responsible to get you out of that trap?

Phranc OCT 07, 09:42 AM
Is it a "trap" if you didn't read all papers you willing signed? Is it a "trap" if can see it right in front of you and agree to walk into it. Yes you are an idiot and it is your fault if you walk in to a "trap" you know is there. But this wasn't a trap now was it.
84fiero123 OCT 07, 10:39 AM

quote
Originally posted by aceman:
They were victims? Or idiots?

The article is layed out to show these fools as victims. No, a person with common sense can see they're idiots.



But these people have educations and degrees. One guy in the story was a nuclear inspector.

So what does that make them?

------------------
Technology is great when it works,
and one big pain in the ass when it doesn't.
Detroit iron rules all the rest are just toys.

aceman OCT 07, 10:43 AM
Idiots with no common sense.
84fiero123 OCT 07, 10:45 AM

quote
Originally posted by aceman:

Idiots with no common sense.



No educated idiots with no common sense.

So as I have said before an education does not make for common sense.

------------------
Technology is great when it works,
and one big pain in the ass when it doesn't.
Detroit iron rules all the rest are just toys.

84fiero123 OCT 07, 10:46 AM
Got ya!

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Technology is great when it works,
and one big pain in the ass when it doesn't.
Detroit iron rules all the rest are just toys.

aceman OCT 07, 10:48 AM
Steve, get out of the deep end and go play in the kiddie pool. I wouldn't want you to drown!
aceman OCT 07, 10:49 AM
So the educated idiot has 1 strike against him.

You're uneducated and an idiot. You have two strikes against you!