I CAN afford my mortgage I have chosen not to pay it to forclose. The reason that is.... I bought this for $300k 2 years ago within 6 weeks roof fell in and destroyed the upstairs so i put in another 30k.
It is now only worth $190k and I owe 290K my mortgage payment is $2500 a month. I can pay that but it would mean we could not save much each month or top up our retirement.. I could also take another job and so could dh... worth it for a house with neg equity??? NO!
So rentals here go for around $1500 a month that is an extra $1000 in my pocket each month so if gas and heating oil goes up, or an emergency happens, I have money behind me and never need to use credit again, see the difference??
keep yourself tight to stay in a home you bought in the past and if things go wrong resort to cards??? or move and save save save and get your self in a good position. Also the houses are going to continue to drop and no one knows where it will end.... why should I pay a huge mortgage for a house that is droping daily when it could be money in my bank, or retirement.... we do well hubby earns over $100k per year so please dont tell me I cannot afford it, I chose to NOT afford it and throw my money down a drain......
you just look after yourself and do not worry what i can or cannot afford.
It is now only worth $190k and I owe 290K my mortgage payment is $2500 a month. I can pay that but it would mean we could not save much each month or top up our retirement.. I could also take another job and so could dh... worth it for a house with neg equity??? NO!
So rentals here go for around $1500 a month that is an extra $1000 in my pocket each month so if gas and heating oil goes up, or an emergency happens, I have money behind me and never need to use credit again, see the difference??
keep yourself tight to stay in a home you bought in the past and if things go wrong resort to cards??? or move and save save save and get your self in a good position. Also the houses are going to continue to drop and no one knows where it will end.... why should I pay a huge mortgage for a house that is droping daily when it could be money in my bank, or retirement.... we do well hubby earns over $100k per year so please dont tell me I cannot afford it, I chose to NOT afford it and throw my money down a drain......
you just look after yourself and do not worry what i can or cannot afford.
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