Comments on: Scratch troubled, we are screwed as a country http://www.christopherspenn.com/2007/12/scratch-troubled-we-are-screwed-as-a-country/ Wed, 08 Feb 2012 23:56:00 +0000 hourly 1 By: Shane Bugbee http://www.christopherspenn.com/2007/12/scratch-troubled-we-are-screwed-as-a-country/#comment-1551 Shane Bugbee Sun, 16 Dec 2007 04:50:04 +0000 http://www.christopherspenn.com/2007/12/15/scratch-troubled-we-are-screwed-as-a-country/#comment-1551 bravo! after only being on the road for little over a month, we are looking to head out of the US of A... bravo!

after only being on the road for little over a month, we are looking to head out of the US of A…

]]> By: Shane Bugbee http://www.christopherspenn.com/2007/12/scratch-troubled-we-are-screwed-as-a-country/#comment-14023 Shane Bugbee Sun, 16 Dec 2007 04:50:00 +0000 http://www.christopherspenn.com/2007/12/15/scratch-troubled-we-are-screwed-as-a-country/#comment-14023 bravo! after only being on the road for little over a month, we are looking to head out of the US of A... bravo!

after only being on the road for little over a month, we are looking to head out of the US of A…

]]> By: Christopher S. Penn http://www.christopherspenn.com/2007/12/scratch-troubled-we-are-screwed-as-a-country/#comment-1550 Christopher S. Penn Sun, 16 Dec 2007 02:19:02 +0000 http://www.christopherspenn.com/2007/12/15/scratch-troubled-we-are-screwed-as-a-country/#comment-1550 Justin - sometimes it does evaporate. Example: You buy a house at $600K. You take out a mortgage for $600K. You owe $600K. Next, the house price declines to $300K. If you have paid $320K towards the mortgage but can only sell the house for $300K, $20K has evaporated. Justin – sometimes it does evaporate.

Example:

You buy a house at $600K. You take out a mortgage for $600K. You owe $600K.

Next, the house price declines to $300K. If you have paid $320K towards the mortgage but can only sell the house for $300K, $20K has evaporated.

]]> By: Christopher S. Penn http://www.christopherspenn.com/2007/12/scratch-troubled-we-are-screwed-as-a-country/#comment-14022 Christopher S. Penn Sun, 16 Dec 2007 02:19:00 +0000 http://www.christopherspenn.com/2007/12/15/scratch-troubled-we-are-screwed-as-a-country/#comment-14022 Justin - sometimes it does evaporate. Example: You buy a house at $600K. You take out a mortgage for $600K. You owe $600K. Next, the house price declines to $300K. If you have paid $320K towards the mortgage but can only sell the house for $300K, $20K has evaporated. Justin – sometimes it does evaporate.

Example:

You buy a house at $600K. You take out a mortgage for $600K. You owe $600K.

Next, the house price declines to $300K. If you have paid $320K towards the mortgage but can only sell the house for $300K, $20K has evaporated.

]]> By: JohnBlue http://www.christopherspenn.com/2007/12/scratch-troubled-we-are-screwed-as-a-country/#comment-1549 JohnBlue Sun, 16 Dec 2007 01:35:25 +0000 http://www.christopherspenn.com/2007/12/15/scratch-troubled-we-are-screwed-as-a-country/#comment-1549 Chris, thanks for the link to the fair debt info! I learned something from it. John Chris, thanks for the link to the fair debt info! I learned something from it. John

]]> By: JohnBlue http://www.christopherspenn.com/2007/12/scratch-troubled-we-are-screwed-as-a-country/#comment-14021 JohnBlue Sun, 16 Dec 2007 01:35:00 +0000 http://www.christopherspenn.com/2007/12/15/scratch-troubled-we-are-screwed-as-a-country/#comment-14021 Chris, thanks for the link to the fair debt info! I learned something from it. John Chris, thanks for the link to the fair debt info! I learned something from it. John

]]> By: Justin http://www.christopherspenn.com/2007/12/scratch-troubled-we-are-screwed-as-a-country/#comment-1548 Justin Sat, 15 Dec 2007 19:52:52 +0000 http://www.christopherspenn.com/2007/12/15/scratch-troubled-we-are-screwed-as-a-country/#comment-1548 Am I missing something here? If you put your $110k into paying off your mortgage, does that money just evaporate? Unless your home price never recovers you should be able to get that money back. Granted in some areas the housing prices were so over the top it's going to be a long time before they recover. Most places around the country it seems like a couple year offset is probably what's going to happen. Am I missing something here?
If you put your $110k into paying off your mortgage, does that money just evaporate? Unless your home price never recovers you should be able to get that money back. Granted in some areas the housing prices were so over the top it’s going to be a long time before they recover. Most places around the country it seems like a couple year offset is probably what’s going to happen.

]]> By: Justin http://www.christopherspenn.com/2007/12/scratch-troubled-we-are-screwed-as-a-country/#comment-14020 Justin Sat, 15 Dec 2007 19:52:00 +0000 http://www.christopherspenn.com/2007/12/15/scratch-troubled-we-are-screwed-as-a-country/#comment-14020 Am I missing something here? If you put your $110k into paying off your mortgage, does that money just evaporate? Unless your home price never recovers you should be able to get that money back. Granted in some areas the housing prices were so over the top it's going to be a long time before they recover. Most places around the country it seems like a couple year offset is probably what's going to happen. Am I missing something here?
If you put your $110k into paying off your mortgage, does that money just evaporate? Unless your home price never recovers you should be able to get that money back. Granted in some areas the housing prices were so over the top it’s going to be a long time before they recover. Most places around the country it seems like a couple year offset is probably what’s going to happen.

]]> By: John Wall http://www.christopherspenn.com/2007/12/scratch-troubled-we-are-screwed-as-a-country/#comment-1547 John Wall Sat, 15 Dec 2007 16:28:31 +0000 http://www.christopherspenn.com/2007/12/15/scratch-troubled-we-are-screwed-as-a-country/#comment-1547 This is great advice, I've even known some ethically challenged people who've declared bankruptcy upon graduation from med school just to unload the debt. I personally feel there's a spot in hell reserved and pre-paid for them, but for others this beats being an 80 year old greeter at Wal-mert with no health insurance. This is great advice, I’ve even known some ethically challenged people who’ve declared bankruptcy upon graduation from med school just to unload the debt. I personally feel there’s a spot in hell reserved and pre-paid for them, but for others this beats being an 80 year old greeter at Wal-mert with no health insurance.

]]> By: John Wall http://www.christopherspenn.com/2007/12/scratch-troubled-we-are-screwed-as-a-country/#comment-14019 John Wall Sat, 15 Dec 2007 16:28:00 +0000 http://www.christopherspenn.com/2007/12/15/scratch-troubled-we-are-screwed-as-a-country/#comment-14019 This is great advice, I've even known some ethically challenged people who've declared bankruptcy upon graduation from med school just to unload the debt. I personally feel there's a spot in hell reserved and pre-paid for them, but for others this beats being an 80 year old greeter at Wal-mert with no health insurance. This is great advice, I’ve even known some ethically challenged people who’ve declared bankruptcy upon graduation from med school just to unload the debt. I personally feel there’s a spot in hell reserved and pre-paid for them, but for others this beats being an 80 year old greeter at Wal-mert with no health insurance.

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