Holy poo interest rates are low right now...

[g5jamz]

I wonder if BB&T allows bimonthly payment...

[Mrs Pantherfan]

well, it looks like I'm f*cking screwed...great

[pantherfan49]

I wonder if BB&T allows bimonthly payment...

just increase your monthly payment a few bucks and it does the same thing.

[Johnny Rockets]

well, it looks like I'm f*cking screwed...great

Nah, people who are $100K+ upside down in their homes are screwed. That's why so many people who could pay their mortgages said fug it and walked away. Can't honestly say I blame them.

[Jase]

It looks like it has been since the 50s.

Housing prices were virtually the same in 1948 and 1997. And 1907 for that matter.

The 50s were when governments started getting into the habit of manipulating the housing market for economic growth, though.... hmm...

[Mrs Pantherfan]

Nah, people who are $100K+ upside down in their homes are screwed. That's why so many people who could pay their mortgages said fug it and walked away. Can't honestly say I blame them.

I mean I'm screwed because I'm stuck there, and by the looks of it, for a while...I'll never be able to move unless that lamp I keep rubbing finally pops out a magic genie that grants my money wishes..I know I'm lucky to have a house..and I'm grateful that we're able to pay for it..I just want a different house..I want to be in a house that I know I want to be in for a long time..first world problems I guess...

[Jase]

That's not a lamp...

[pantherfan49]

Nah, people who are $100K+ upside down in their homes are screwed. That's why so many people who could pay their mortgages said fug it and walked away. Can't honestly say I blame them.

Yep. Their credit will be repaired in roughly 7 years and they won't have a 100k loss to show for it.

[Hawk]

going to go against the grain....low interest rates is the worst time to put extra money towards your payment...invest that money into something else instead.

Jase, if you are at 3.64% on your mortgage right now it shouldn't be too hard to find an investment that will pay higher than that. Nice to have the mortgage paid off of course, but you can be using your money wiser right now with low rates.

[Mvp2014]

And a lot of those people stayed in there house long after they stopped paying their mortgage. The whole thing is broken. I can't blame them for not spending the next 20 years in an upside loan so a corrupt assclown can get his new condo in Long Island.

[Johnny Rockets]

I mean I'm screwed because I'm stuck there, and by the looks of it, for a while...I'll never be able to move unless that lamp I keep rubbing finally pops out a magic genie that grants my money wishes..I know I'm lucky to have a house..and I'm grateful that we're able to pay for it..I just want a different house..I want to be in a house that I know I want to be in for a long time..first world problems I guess...

Want, want want....sheesh, fuggin women. Just kidding...I know what you are saying and it actually brings up a question I have.

So most likely when i sell my home I will come out of it owing somewhere in the $20K-$30K range. Not sure how that will be split up at the diviorce but let's say I owe $20K personally....

Question - I don't have $20K burried in a piggy bank outback to pay off that debt. I do however have spotless credit and will sell my body to 80 year old men to keep it that way if I have to but that's another story....With perfect credit and the economy the way it is, if a lender approved me for a $200K loan would they allow me to purchase a $150K home/condo and roll the $20K that I owe into that loan? I was thinking if the bank that I currently have my loan with financed my new home it might be a possibility? Anyone know?

[◄≡Anurhu≡►]

My wife and I were fortunate enough to inherit some property out of state several years ago. We sold that and bought our home here outright.

Unfortunately for us, we still have to pay the government every year for the right to own it.

[Jase]

going to go against the grain....low interest rates is the worst time to put extra money towards your payment...invest that money into something else instead.

Jase, if you are at 3.64% on your mortgage right now it shouldn't be too hard to find an investment that will pay higher than that. Nice to have the mortgage paid off of course, but you can be using your money wiser right now with low rates.

A guaranteed ROR of 3.64% is tough sledding these days...especially in the time it would take me to build the principle I would need to make a difference.

I swing trade the stock market, to usually good results. This year was brutal. Didn't make really anything. The swings on euro whims were just too wild for me.

[pstall]

just start writing naked calls and party like Charlie Sheen