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Politics : Formerly About Advanced Micro Devices
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To: Tenchusatsu who wrote (266789)1/2/2006 2:02:11 PM
From: tejek  Read Replies (2) of 1578244
 
These days, the housing bubble has turned many of us into speculators. That includes those who cash in on the appreciation via refinancing.

Yes, that can be dangerous. In the early 1990s, many people in S. CA ended up 'upside down' when it came to their houses. That meant that when they went to sell, they sold their houses for less than the mortgage amount owed and ending up having to use savings to close the deal. It was very scary and ruined a number of people......BKs were very high at that time. I would never take out more than 10% of the original purchase price out of appreciated equity no matter how much everyone claims a house has gone up in value.

ted
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