brewer12345
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Mar 6, 2003
- Messages
- 18,085
Thanks Brewer,
That is where I am at now. I hate servicing the loan month in and month out knowing I am house trapped, but there are worse places I could be. Of course isn't there a common rule about not paying interest on a depreciating asset?
Now lets hope that the large number of empty homes that are accumulating in my subdivision begin clearing and don't begin to deteriorate too badly.
My worst fear is that we get ourselves into a Japanese style housing deflation.
For now, I would say keep treading water and wait for things to improve. Keep your options open and take care of priorities 1, 2 and 3: kid, wife and you. In time things will get better, you will gradually amortize your loans, and you'll probably be OK. If it makes you feel better, throw an exra $100 a month at the second when you can, but don't worry about it too much.