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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: ggamer who wrote (4676)8/26/2002 4:28:13 PM
From: deenoRead Replies (1) of 306849
 
So it sounds like your trying to hedge $100,000. How about the Enron approach. Get a second on the home, one of those high cost 125% deals. pulling out about $150,000. use this money to buy a place in Texas or other banckrupcy protected state. If you lose your job, let the bank forclose on the property, head out on to Texas, file bankrupt (remember your homsteded!) and get another job. If the job in SF works out ok, the economy must be good, both houses will appreciate, sell the texas one off for a profit and use the proceeds to pay off the high second. Even if you only break even on Texas the costs of the expensive loan would be nothing compared to losing your 20% ;^D
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