Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : ahhaha's ahs -- Ignore unavailable to you. Want to Upgrade?

To: ahhaha who wrote (4988)	7/25/2002 11:53:54 AM
From: Ahda	Read Replies (3) \| Respond to of 24758

Federal Reserve Chairman Alan Greenspan noted this during an appearance before Congress this month. interest.com "So long as home wealth, the value of homes and the equity we have in them, continues to increase, that is clearly going to significantly temper the impact that the decline in stock prices has had," he said. Thursday, July 25, 2002 Owing More on Your House than its Worth is Risky James R. DeBoth, President--Interest.com www.interest.com -------------------------------------------------------------------------------- We all want to own our own home. What we don't want is to have our home own us. That, however, can happen if you buy a home with no money down, or if you refinance with a loan that leaves you owing 110, 115, or even 125 percent of the total value of your house. The other way people get "upside down" in a house is with a second mortgage that can leave them owing 110 or even 125 percent of the value of their home. Many people max out their credit cards and then get a second mortgage -- a home equity loan or line of credit -- to pay them off. This option gives borrowers a low-interest loan and usually lets them write off the interest on their taxes. Pridgen points out, however, that the temptation is to run those credit cards back up to the limit again