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For Many House Equity Loans, Payment Shock Is Near

By tovarichpeter   Follow   Sat, 14 Jul 2012, 5:56pm   583 views   5 comments
In South San Francisco CA 94080   Watch (0)   Share   Quote   Permalink   Like   Dislike  

http://www.nytimes.com/2012/07/15/business/for-many-home-equity-loans-payment-shock-is-near.html?ref=business&gwh=6D0C4625EE5C2BF22D59CBA98029E561

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1. hidarez Follow Befriend 1 threads 11 comments Rancho Palos Verdes, CA

   1   9:59pm Mon 16 Jul 2012   Share   Quote   Permalink   Like (1)   Dislike   I can't wait to experience the schadenfreude from this outcome.

2. robertoaribas Follow Befriend (23) 55 threads 3,825 comments Scottsdale, AZ robertoaribas's website

   2   12:10am Tue 17 Jul 2012   Share   Quote   Permalink   Like   Dislike   hidarez says I can't wait to experience the schadenfreude from this outcome. pretty sad commentary about you... but oh well. I heloced the hell out of a payed off condo in 2007. I wanted to get the cash out, before the value crashed. used the cash to buy 3 more at the bottom. Don't count on that foreclosure in your arithmetic... by 2014 mentioned in the article, many of these helocs will be 7 years old. Mine doesn't reset to pay principle until 2017, are you sure the market won't be a tad better by then? are you sure? case-shiller just showed 10% increase year on year in Phoenix...

3. StoutFiles Follow Befriend (1) 24 threads 557 comments

   3   5:37am Tue 17 Jul 2012   Share   Quote   Permalink   Like (1)   Dislike   robertoaribas says case-shiller just showed 10% increase year on year in Phoenix... Please stop using Phoenix to say the entire country is quickly getting better. Phoenix had one of the biggest freefalls in the country, so naturally it's going to raise quicker and higher than most areas during the buying season. Phoenix is not representative of America as a whole.

4. dunnross Follow Befriend 28 threads 1,489 comments San Jose, CA Premium

   4   5:48am Tue 17 Jul 2012   Share   Quote   Permalink   Like (1)   Dislike   StoutFiles says Phoenix had one of the biggest freefalls in the country, so naturally it's going to raise quicker and higher than most areas during the buying season. Phoenix had one of the biggest 1st leg freefalls in the country, so naturally it's going to have the biggest 1st dead-cat bounce too.

5. FortWayne Follow Befriend (13) 103 threads 3,768 comments

   5   7:42am Tue 17 Jul 2012   Share   Quote   Permalink   Like   Dislike   robertoaribas says Mine doesn't reset to pay principle until 2017, are you sure the market won't be a tad better by then? are you sure? case-shiller just showed 10% increase year on year in Phoenix... I don't think American economy will recover by 2017. Too much government intervention holding us from hitting the bottom, and without hitting the bottom recovery can't begin. Neither party will make a difference, Democrat or Republican will be all same... fundamentals are not there for this nation. And with our deficits taxes will have to go up, Obamacare won't be free either... And with Republican military spending overseas budgets will never balance... We are likely to see another decade of permanent deflation in every industry. Our empire shrink, and we being passed by China and Russia.