About Erikintx


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Registered Aug 30, 2012

Erikintx's most recent comments:

  • On Tue, 4 Dec 2012, 2:39am PST in Owner walks away from his loft, then sees someone living inside, Erikintx said:

    Is the HOA allowed to foreclose themselves for unpaid dues? Seems like they sat on the sidelines for a long, long time too to have amassed $35K in dues owed! If I was sitting on a HOA board anything without owner contact would go to foreclosure after 12 months. At least then the mortgage company might pay up to keep it from being foreclosed upon.

    Or am I missing something about CA HOA foreclosure law?

  • On Fri, 30 Nov 2012, 2:15am PST in Mortgage interest deduction benefits realtors and rich, not middle class, Erikintx said:

    The really rich like Buffet and hedge fund managers making hundreds of millions per year get the low 15% dividends (scheduled to go to 20%) rate. I think that's a better fat cat target than the capital gains tax (isn't that supposed to go to earned income rate if the scheduled law expirations happen??)

  • On Fri, 30 Nov 2012, 1:22am PST in Mortgage interest deduction benefits realtors and rich, not middle class, Erikintx said:

    I'm out in Abilene, TX but did live in CA at one point. We had a $600,000 or so mortgage and the interest deduction did matter. Remember we're also at historically low interest rates and when rates go up so will the mortgage interest (some people still take adjustable loans out, and HELOCs are adjustable).

    I do think it should be income based and capped. For instance you can only deduct it against W-2 income so the WalMart kids and Buffet won't get to offset their dividend income. If you don't EARN money by working then you can afford to lose the deduction. This could be fazed in over 10 years (10%/year starting in 2014). That'll give them a full year or so to pay off/down the mortgage or adjust their finances. It'll also faze in the impact to the high end real estate market. Those bastard hedge fund managers with their "carried interest" BS tax break wouldn't get to write off their mortgage interest.

    I'd argue for full tax deduction for families making W-2 income of $250K or less, with an adjustment upward on the $250K multiplier for high-expense/income counties. Or even double that to $500,000/couple of W-2 income to take full deduction. We never make even close to the $250K when living in CA so a full deduction still covers a SFR in Campbell, CA.

    For those fortunate to make W-2 income of $250K/year (or even make it $500K/year) as a couple I think proper budgeting will allow even the affordability of Palo Alto, SF, NYC, etc.

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