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Real Estate Discussion

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  • #76
    Originally posted by bmrigs View Post
    I would reconsider buying a house if you do sell. Homeownership is a misnomer and a scam. My reasons are in the "Let's talk politics here thread" in General Talk. Like George Carlin said: Its called the american dream because you have to be asleep to believe it.

    I looked through that thread and believe I found what you were referring to.


    So are you saying I be better off paying rent for the rest of my life ?? .. Verses me buying another home out right from the money I would get from selling mine. If I bought another house I wouldn't want to finance it. I would want to pay cash in full so that way I wouldn't have any payments.... And on the part where you said about having to pay taxes and never really never actually owning your home. Well that's just the way it is , we all have to do it unfortunately.
    Filed CH 13: 3/5/04
    First Mtg: 3/31/04
    Confirmed: 11/4/04
    I'M DONE !!

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    • #77
      Originally posted by Lacy View Post
      I looked through that thread and believe I found what you were referring to.


      So are you saying I be better off paying rent for the rest of my life ?? .. Verses me buying another home out right from the money I would get from selling mine. If I bought another house I wouldn't want to finance it. I would want to pay cash in full so that way I wouldn't have any payments.... And on the part where you said about having to pay taxes and never really never actually owning your home. Well that's just the way it is , we all have to do it unfortunately.
      If you buy a home outright without paying interest it becomes more reasonable since your only paying taxes and insurance if you want to pay the premiums. But like I said in that thread, you will not get an Allodial Title so it technically will still not be yours and can be taken away at govts will.
      "Paper is poverty,... it is only the ghost of money, and not money itself." --Thomas Jefferson to Edward Carrington, 1788

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      • #78
        Originally posted by bmrigs View Post
        If you buy a home outright without paying interest it becomes more reasonable since your only paying taxes and insurance if you want to pay the premiums. But like I said in that thread, you will not get an Allodial Title so it technically will still not be yours and can be taken away at govts will.
        But thats ony if I dont pay my taxes , right ?
        Filed CH 13: 3/5/04
        First Mtg: 3/31/04
        Confirmed: 11/4/04
        I'M DONE !!

        Comment


        • #79
          Well got some great news today from the insurance company ... my house is going to be paid off !! .. Now have to make the decision to sale it or keep it and continue to live here.



          I know no one really cares but just had this need to come in here and post that.
          Filed CH 13: 3/5/04
          First Mtg: 3/31/04
          Confirmed: 11/4/04
          I'M DONE !!

          Comment


          • #80
            Originally posted by Lacy View Post
            But thats ony if I dont pay my taxes , right ?
            or if they decide to expand an airport on your property, or maybe the city wants to put condos or widen with a new freeway instead- & they dont have to give you what it is worth...they just throw you out & give you what they think you should get. I would not say as bad as Castro but close enough.

            Originally posted by Lacy View Post
            Well got some great news today from the insurance company ... my house is going to be paid off !! .. Now have to make the decision to sale it or keep it and continue to live here.



            I know no one really cares but just had this need to come in here and post that.
            I care but I have never had my own house yet so it would be hard to say what I would do. I would rather own my own place if the conditions are right...with an olympic pool, a yacht on the lake with ocean access, tennis courts, movie room, private helicopter & pad...you know, just the little stuff.

            so how is it going to be paid off?

            Comment


            • #81
              Originally posted by Bandit View Post
              or if they decide to expand an airport on your property, or maybe the city wants to put condos or widen with a new freeway instead- & they dont have to give you what it is worth...they just throw you out & give you what they think you should get. I would not say as bad as Castro but close enough.

              Thanks Bandit I never thought about that and I guess your right. That really doesn't seem fair especially if someone didn't wont to sale. I know they built a bridge not to long ago here and I know some homes had to be torn down to build it. Now has me wondering about those peoples homes.




              Originally posted by Bandit View Post
              I care but I have never had my own house yet so it would be hard to say what I would do. I would rather own my own place if the conditions are right...with an olympic pool, a yacht on the lake with ocean access, tennis courts, movie room, private helicopter & pad...you know, just the little stuff.

              so how is it going to be paid off?
              LOL yeah I like all that little stuff myself.... but I dont see any of it in my future , unfortunately.


              Its being paid of by credit life insurance that my husband and I got when we took out the loan. My husband recently passed away
              Filed CH 13: 3/5/04
              First Mtg: 3/31/04
              Confirmed: 11/4/04
              I'M DONE !!

              Comment


              • #82
                I am sorry for the loss, Lacy. But also glad you looked after each other in the long term.

                Comment


                • #83
                  There have been increased incidents of people committing suicide as a result of pending foreclosures on thier homes. There was a "local" woman that committed suicide and thought that her husband would be able to collect the insurance money to pay off the mortgage.
                  The information provided is not, and should not be considered legal advice. All information provided is only informational and should be verified by a law practioner whenever possible. When confronted with legal issues contact an experienced attorney in your state who specializes in the area of law most directly called into question by your particular situation.

                  Comment


                  • #84
                    Originally posted by Bandit View Post
                    I am sorry for the loss, Lacy. But also glad you looked after each other in the long term.
                    Thanks Bandit

                    No I wouldn't actually say he looked after me long term or he be here right now.

                    I have decide to put off making any decisions on selling my home for now. I have been told it is good to wait at least a year in making any type of financial decisions after losing a loved one.
                    Filed CH 13: 3/5/04
                    First Mtg: 3/31/04
                    Confirmed: 11/4/04
                    I'M DONE !!

                    Comment


                    • #85
                      Originally posted by HRx View Post
                      There have been increased incidents of people committing suicide as a result of pending foreclosures on thier homes. There was a "local" woman that committed suicide and thought that her husband would be able to collect the insurance money to pay off the mortgage.
                      And did they pay ?
                      Filed CH 13: 3/5/04
                      First Mtg: 3/31/04
                      Confirmed: 11/4/04
                      I'M DONE !!

                      Comment


                      • #86
                        Generally, insurance policies don't pay if the insured commit suicide. All policies are different, though..

                        I'm sorry to hear about your husband's passing, Lacy.
                        Filed Chapter 7: 3-22-08
                        341 Meeting: 5-15-08 It went great!!!
                        Last day for objections: 7-14-08
                        Discharged and Closed: 7-21-08

                        Comment


                        • #87
                          So sorry about your loss Lacy.

                          Most insurance policies only have a two year exclusionary period for suicide.
                          Best bet is to check the policy.

                          Comment


                          • #88
                            Originally posted by Stilltheone View Post
                            Generally, insurance policies don't pay if the insured commit suicide. All policies are different, though..

                            I'm sorry to hear about your husband's passing, Lacy.
                            Originally posted by fltoo View Post
                            So sorry about your loss Lacy.

                            Most insurance policies only have a two year exclusionary period for suicide.
                            Best bet is to check the policy.
                            Thanks Stilltheone and fltoo.

                            The insurance is paying the house off , thank goodness.. Still waiting to hear about my vehicle though if its going to be paid off or not.
                            Filed CH 13: 3/5/04
                            First Mtg: 3/31/04
                            Confirmed: 11/4/04
                            I'M DONE !!

                            Comment


                            • #89
                              Originally posted by HRx View Post
                              There have been increased incidents of people committing suicide as a result of pending foreclosures on thier homes. There was a "local" woman that committed suicide and thought that her husband would be able to collect the insurance money to pay off the mortgage.
                              A 56-year-old lady at work committed suicide and her husband and children were able to pay off the mortgage with her life insurance proceeds. Most policies have only a 2-year exception clause for suicide.

                              I agree that this dismal economy is likely to increase the suicide rate.
                              BK 7 filed and discharged in 2004 after 30+ years of perfect credit. Life HAPPENS.

                              Comment


                              • #90
                                Lacy, I am so sorry for your loss. I'm glad you and your husband had the foresight to take out mortgage life insurance when you bought the property. Nothing replaces your husband, though. I'm so sorry!
                                BK 7 filed and discharged in 2004 after 30+ years of perfect credit. Life HAPPENS.

                                Comment

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