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Started By
Message
re: Nearly a Million Americans Fear Losing Their Home to Foreclosure in the next two months
Posted on 10/20/22 at 11:42 am to bubbaprohn
Posted on 10/20/22 at 11:42 am to bubbaprohn
quote:
This is just idiotic. There is 0 downside to paying things off. It is a great financial decision to pay things off. Laughing at those who say so is just stupid.
Calm down, Dave Ramsay.
1
Posted on 10/20/22 at 11:43 am to Yellerhammer5
Posted on 10/20/22 at 11:44 am to Mootsman
quote:
Ok Nostradamus. I get it's a 30 year window. But when do you expect the market to be back to all time highs when you would but these great dividend paying mutual funds. For all you know it could be 10 years. Also for all you know this guy is trying to retire soon. You're making all sorts of accusations and know absolutely nothing about the situation you're smugly criticizing.
quote:
You're missing the point here.
The guy simply said he was glad he paid off his homes and you went bezerk. You have no idea about his situation but you went straight to him being inept then bragging about being inept.
Like upgrayed said, douche.
like i said, it was a general statement about the lack of understanding of money on the OT. so many have this thinking like dave ramsey that i have to pay off everything as fast as possible no matter what the economic conditions say
and again if you read my post i freely admitted to trolling and i specifically address that individual poster.
Posted on 10/20/22 at 11:48 am to lsu777
You might find this shocking but leveraging your paid off home to try and create some kind of arbitrage in the stock market isn't always the best idea. It depends on the situation. And you know nothing about the situation.
Posted on 10/20/22 at 11:49 am to Mootsman
quote:
You might find this shocking but leveraging your paid off home to try and create some kind of arbitrage in the stock market isn't always the best idea. It depends on the situation. And you know nothing about the situation.
no shite but neither is pulling money out the market to pay off a home or vehicle if they are offering the type of interest they were a year ago.
Posted on 10/20/22 at 11:50 am to lsu777
When did he say he pulled money out of the stock market to pay off the home. he literally said he paid it off years ago. You're reaching for straws now.
Posted on 10/20/22 at 11:52 am to Mootsman
Guy is just pulling shite out of his arse. Dude is arguably the angriest poster on this site
Posted on 10/20/22 at 11:55 am to GetCocky11
quote:
Don't buy houses you can't afford just because rates were low
Or to keep up with the Joneses.
Posted on 10/20/22 at 11:55 am to bubbaprohn
quote:
There is 0 downside to paying things off. It is a great financial decision to pay things off.
I mean, that isn't true across the board. We bought a new car (before the COVID shortages) and financed for 0 percent interest. The car is now worth more than what we paid for it, and with inflation doing its thing, it just wouldn't make financial sense to pay it off, even though we could.
Posted on 10/20/22 at 11:55 am to stout
Quit buying homes you cannot afford.
Posted on 10/20/22 at 11:56 am to bubbaprohn
quote:
This is just idiotic. There is 0 downside to paying things off. It is a great financial decision to pay things off. Laughing at those who say so is just stupid.
This completely depends on your earning potential, debt/income ratio, and how close you are to retirement. In MANY cases, you are better off financially to leverage your money and make it work for you.
Posted on 10/20/22 at 12:05 pm to lsu777
Being all inflammatory and bombastic then going with “lol I’m trolling” is so fricking gay
Posted on 10/20/22 at 12:15 pm to stout
quote:
Month-to-month or quarter-to-quarter is the data that we need to be looking at and it is going the wrong way after declining for over a decade.
quote:
There were a total of 31,836 U.S. properties with foreclosure filings in September 2022, down 8% from August 2022
Posted on 10/20/22 at 12:16 pm to stout
A lot of Americans that paid too much for their homes (above asking price) are going to walk away from their mortgage in the coming 2 years. They’ll need the $ for other expenses and bills. It will be months if not a year to get them out of their house but at that point a person with a $1200/month mortgage has cleared other bills/debts and set money aside for their rent after eviction. You can do all the surveys, pie charts and analysis you want but never underestimate how many Americans can collectively say ‘Ah frick it’ and walk.
Posted on 10/20/22 at 12:18 pm to GreatLakesTiger24
I think it’s just an argument that neither side can win
Yes borrowing money at extremely low rates to make large purchases like a home, while inflation eats away at the value of the principle and you can take the money in your pocket to invest at hopefully a higher return than the interest owed in your loan.
But some people like the freedom of being debt free and not having to worry about “what if” and juggle payments and make lifestyle decisions based on their monthly debt payments.
It’s more about do you want more money possibly in the future or do you want peace of mind to pick up whenever you want and do what you want.
Yes borrowing money at extremely low rates to make large purchases like a home, while inflation eats away at the value of the principle and you can take the money in your pocket to invest at hopefully a higher return than the interest owed in your loan.
But some people like the freedom of being debt free and not having to worry about “what if” and juggle payments and make lifestyle decisions based on their monthly debt payments.
It’s more about do you want more money possibly in the future or do you want peace of mind to pick up whenever you want and do what you want.
Posted on 10/20/22 at 12:18 pm to GreatLakesTiger24
Yea thats horseshite. Dude goes off the rails in every thread he is in. He can always be seen freaking out in youth sports threads.
But yea trolling today
But yea trolling today
Posted on 10/20/22 at 12:27 pm to stout
BlackRock and others fixing to eat
Going as planned
Going as planned
Posted on 10/20/22 at 12:44 pm to JohnnyKilroy
quote:
There were a total of 31,836 U.S. properties with foreclosure filings in September 2022, down 8% from August 2022
Yep winter time is always the slow down in foreclosure. March until August is always peak season.
Posted on 10/20/22 at 12:53 pm to stout
quote:
Don't read it. Keep your head in the sand that an economic shitshow isn't coming I guess.
Yea … more blah blah blah
Armageddon is coming, end of times is near, economy going to crumble
Pulling at the emotional strings of people who take sound bytes as gospel.
Posted on 10/20/22 at 12:57 pm to stout
“You’ll own nothing and like it”
Commie plan is all coming together nicely.
Commie plan is all coming together nicely.
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