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House prices and Equity release?

Discussion in 'Electronic Design' started by Genome, Mar 25, 2007.

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  1. Genome

    Genome Guest

    I can now borrow lots of money on my house or I can sell it for lots more
    money because, apparently, it is worth more.

    Since my house is an even worse shithole than it was a couple of years ago
    I'm wondering how that happened.....

    I've sort of noticed that shitholes similar to mine have also risen in price
    so if I sold mine to realise the profit I could buy a similar shithole for
    the same price.

    I have also noticed that if I did not have a shithole in the first place I
    could borrow more money than I could before to buy one.

    I think I am then allowed to remortgage it, put a plastic thing in the
    garden, buy a new sofa and have an MDF kitchen.

    Then I can get a loan to pay off all of my debts.

    I'm sort of confused.

    Has someone got some good advice?

  2. When at the bottom of the market upsize.

    When at the top of the market downsize.
  3. Buy your neighbors house, that they cant afford. and rent it out to them. ;)

  4. Guest

    He's already tried that, but hobo-joe won't part with his cardboard
  5. Robert Baer

    Robert Baer Guest

    Yes; *NEVER* borrow money!
    Most especially, !RUN! away from "easy" plans, "cheap" plans, etc ad
    nauseum (almost as good as the Nigerian scams).
    If you cannot pay for it now, do without it.
    Exception: buying a house to *live* in for 5+ years; never refi
    unless you can get a FIXED rate at least 2% lower than what you have at
    present (roughly speaking, that 2% will pay the fees, etc).
    A car?
    Get a good used one that you can afford; if you can maneuver a better
    price by signing a finance contract, look very carefully for pre-payment
    penalties before signing.
    Make sure that if you pay the balance in full within 30 days, that
    the net cost is *less* than Cash.
  6. Robert Baer

    Robert Baer Guest

    *THAT* is a superb idea.
    To keep them as renters, give them a discount on the 12th month if
    all payments during proceeding months are on time.
  7. Robert Baer

    Robert Baer Guest

    Upgrade him to a tinfoil hat?
  8. My wife wants to buy another house..... If only i could work out how
    to claim beer as a tax deduction then I would be fine.
  9. If the fox is smart, the fox will be patient and raise very fat
    chickens. The fox works hard to gain the chickens' he cares
    for them by providing slick brochures, branch offices and good-looking
    salespeople who have been trained to sound like investors.

  10. Fred Bloggs

    Fred Bloggs Guest

    It's not that your house is worth *more*, it is that your money is worth
    *less*. You might straighten up your thinking.
  11. TT_Man

    TT_Man Guest

    Have another drink mate.

  13. john jardine

    john jardine Guest

    1] Keep up the mortgage payments.
    2] Buy wisely and add value.
    3] Dis the money lenders and their parlimentary running dogs.
    4] Free up equity* by moving to mainland EC. They've more space and less
    social stress.
    5] Daily, thank the gods you've escaped enslavement.

    (* Under no circumstances move oop North. It's hell up here)
  14. You could sell your house and move in under a bridge. ;-)
  15. Or find an abandoned RV and a friend who owns a factory who will
    let you park it behind his dumpster, and live for free! ;-)

  16. BTDT, preferably close to a McDonalds, so you can use their toilets in
    the morning. RV toilets don't have much capacity

  17. amdx

    amdx Guest

    Just forget about it and do electronics!
  18. I have a Del Taco and a Carl's Jr. about a block away - the Carl's has
    the nicer head, but I won't buy anything there because the last time
    I was there to buy food, there wasn't anybody in the joint who spoke
    English. >:-[

    I like Del Taco because they'll put a "Del Beef" (ground beef & cheese
    burrito) on a bun - I call it a "Sloppy José". ;-)

    And, ironically, their counter help speak English! :)

  19. Emigrate to somewhere where your shithole buys a luxury house.

    Dirk - The UK's only occult talk show
    Presented by Dirk Bruere and Marc Power on ResonanceFM 104.4


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