Comments on: Why Should You Keep Paying Your Mortgage? http://masteryourcard.com/blog/2009/03/13/my-members-want-free-money-too/ The best Credit Card Debt Blog online Tue, 09 Mar 2010 09:42:31 -0500 http://wordpress.org/?v=abc hourly 1 By: Joshua http://masteryourcard.com/blog/2009/03/13/my-members-want-free-money-too/comment-page-1/#comment-32042 Joshua Tue, 24 Mar 2009 18:25:02 +0000 http://masteryourcard.com/blog/?p=1006#comment-32042 Buying a house is no doubt a beautiful thing in life. It is everyone's dream to have his or her own house. But paying the mortgage is one thing that one should not forget. This can be very stressful sometimes when we have financial problems going on but still this is the most important thing which comes up on our credit report also. So we should try to pay this as far as possible. Buying a house is no doubt a beautiful thing in life. It is everyone’s dream to have his or her own house. But paying the mortgage is one thing that one should not forget. This can be very stressful sometimes when we have financial problems going on but still this is the most important thing which comes up on our credit report also. So we should try to pay this as far as possible.

]]> By: Fabulously Broke http://masteryourcard.com/blog/2009/03/13/my-members-want-free-money-too/comment-page-1/#comment-30846 Fabulously Broke Thu, 19 Mar 2009 23:29:48 +0000 http://masteryourcard.com/blog/?p=1006#comment-30846 Am sort of NOT surprised she wants an incentive to keep paying. I'd be pissed too... But am also surprised that she almost wanted to stop paying her mortgage. Hello? just because someone jumped off the bridge and their family got money, doesn't mean you should force your brother to jump off a bridge so you can get the cash too. Weird analogy, but i have my cheapo bro on the mind right now. Am sort of NOT surprised she wants an incentive to keep paying. I’d be pissed too…

But am also surprised that she almost wanted to stop paying her mortgage.

Hello? just because someone jumped off the bridge and their family got money, doesn’t mean you should force your brother to jump off a bridge so you can get the cash too.

Weird analogy, but i have my cheapo bro on the mind right now.

]]> By: Kristy http://masteryourcard.com/blog/2009/03/13/my-members-want-free-money-too/comment-page-1/#comment-30515 Kristy Wed, 18 Mar 2009 05:40:20 +0000 http://masteryourcard.com/blog/?p=1006#comment-30515 @ mimi - Congratulations! That must be exciting that you can get into something you'll be able to call your own. I'm glad Obama's plan can help you in that respect and agree that those who can financially afford their payments now shouldn't be complaining about it. The new homebuyers and those struggling will directly benefit from the plan, but eventually it should work out in everyone's favor. It's better that those struggling with their loans are able to get help rather than having a bunch of foreclosed homes in the neighborhood. I didn't even mention to my member that increased foreclosures devalues her home and increases crime in the area. Those are pretty good reasons to keep paying...darn, always think of stuff after the fact! @ BM - Good advice! @ mimi – Congratulations! That must be exciting that you can get into something you’ll be able to call your own. I’m glad Obama’s plan can help you in that respect and agree that those who can financially afford their payments now shouldn’t be complaining about it. The new homebuyers and those struggling will directly benefit from the plan, but eventually it should work out in everyone’s favor. It’s better that those struggling with their loans are able to get help rather than having a bunch of foreclosed homes in the neighborhood. I didn’t even mention to my member that increased foreclosures devalues her home and increases crime in the area. Those are pretty good reasons to keep paying…darn, always think of stuff after the fact!

@ BM – Good advice!

]]> By: BM http://masteryourcard.com/blog/2009/03/13/my-members-want-free-money-too/comment-page-1/#comment-29645 BM Sat, 14 Mar 2009 01:36:02 +0000 http://masteryourcard.com/blog/?p=1006#comment-29645 Mimi, Congratulations on being able to buy your first house, but as a fairly recent home buyer(3 years) let me wanr you about a couple of surprises. Do not buy a house untill you are willing to pay twice your rent for house related expenses. My rent before buying was $900 and my mortgage is $1100, sounds like a good deal right....but what I neglected to calculate expenses like real estage taxes at $350/month, home association fee $125, sewer bill $100/month, electric utilities (heating & ac) $75-200 dependeing on the time of the year. This puts my house related expenses in the range of $1750 to $1900 per month. You don't pay a lot of these fees when renting and electric bills are significantly more than your apartment because houses are bigger and costs more to keep them warm in winter. The other thing is if you do not need a big house, then do not buy newly constructed houses, most new constructions are big mcmansions and costs significantly to maintain. Houses build 10+ years ago are significantly smaller than todays's houses and will be much cheaper as well. Good luck with your home purchase. Mimi,
Congratulations on being able to buy your first house, but as a fairly recent home buyer(3 years) let me wanr you about a couple of surprises. Do not buy a house untill you are willing to pay twice your rent for house related expenses.

My rent before buying was $900 and my mortgage is $1100, sounds like a good deal right….but what I neglected to calculate expenses like real estage taxes at $350/month, home association fee $125, sewer bill $100/month, electric utilities (heating & ac) $75-200 dependeing on the time of the year. This puts my house related expenses in the range of $1750 to $1900 per month. You don’t pay a lot of these fees when renting and electric bills are significantly more than your apartment because houses are bigger and costs more to keep them warm in winter.

The other thing is if you do not need a big house, then do not buy newly constructed houses, most new constructions are big mcmansions and costs significantly to maintain. Houses build 10+ years ago are significantly smaller than todays’s houses and will be much cheaper as well.

Good luck with your home purchase.

]]> By: mimi http://masteryourcard.com/blog/2009/03/13/my-members-want-free-money-too/comment-page-1/#comment-29616 mimi Fri, 13 Mar 2009 20:12:04 +0000 http://masteryourcard.com/blog/?p=1006#comment-29616 Kristy, I know a lot of people out there are angry that first time home buyers seem to be getting a great deal. They've worked hard and saved and pay their bills on time...yadda yadda. Great for them. I admire them. But Obama's plan for first time home buyers isn't only helping jerks who have bad credit -- it's helping ME! I have excellent credit. I have no credit card debt and I almost own my car. I also have a student loan debt of $50,000 (undergrad and masters). Oh, and I'm a journalist...so I don't make much money. I could never dream of being able to afford a house but this credit helps me do just that. Instead of renting (I'm 31 years old) I now have the opportunity to buy a modest house and own something. This is exciting for someone like me without a lot of money as a down payment. So good for you people out there who can afford it -- but quit complaining already. I'd LOVE to be in your shoes and financially able to afford a good life. Kristy,
I know a lot of people out there are angry that first time home buyers seem to be getting a great deal. They’ve worked hard and saved and pay their bills on time…yadda yadda. Great for them. I admire them. But Obama’s plan for first time home buyers isn’t only helping jerks who have bad credit — it’s helping ME!
I have excellent credit. I have no credit card debt and I almost own my car. I also have a student loan debt of $50,000 (undergrad and masters). Oh, and I’m a journalist…so I don’t make much money. I could never dream of being able to afford a house but this credit helps me do just that. Instead of renting (I’m 31 years old) I now have the opportunity to buy a modest house and own something. This is exciting for someone like me without a lot of money as a down payment.
So good for you people out there who can afford it — but quit complaining already. I’d LOVE to be in your shoes and financially able to afford a good life.

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