Real Estate Pickle
- Thread starter Niko
- Start date
kcowan
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
There is honor among thieves.
Is there any honor among bankers these days? Especially investment bankers?
Is there any honor among bankers these days? Especially investment bankers?
Thanks everyone for your kind comments. I spent about a month moping over the lost money, but honestly I don't even think of it anymore. I've since moved abroad and am earning more now than I did before. I've replenished the lost retirement funds (and then some) and my ER fund is back. In the grand scheme of things, this will likely be no more than a blip -- if that -- in my grand ER scheme.
Walking away from the loan, however, would probably stay with me much longer. I know some people have no choice but to walk. But I did have a choice.
Walking away from the loan, however, would probably stay with me much longer. I know some people have no choice but to walk. But I did have a choice.
Spanky
Thinks s/he gets paid by the post
There may be some, but good luck in finding them.
calmloki
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
"Is there any honor among bankers these days? Especially investment bankers?"
Doesn't matter - as Niko said, the $30k hit bothered him, but he's getting over it. Walking on a debt he could pay would have bothered him longer. I think he made a good "what price do you put on honor?" choice.
Doesn't matter - as Niko said, the $30k hit bothered him, but he's getting over it. Walking on a debt he could pay would have bothered him longer. I think he made a good "what price do you put on honor?" choice.
Niko, you were very lucky to have only taken a $30K hit. Luckily, too, you are young and can recoup the loss. I think you made the right decision and you were also fortunate that the housing market had the first time home buyer stimulus going for it at the time. So congrats!
I don't see it as a question of honor though. It was a financial decision. I think it was the right one though, mostly because taking the $30K hit will taste better over the long term than a short sale or walkaway. Niko will be able to put this bad experience behind him.
I don't see it as a question of honor though. It was a financial decision. I think it was the right one though, mostly because taking the $30K hit will taste better over the long term than a short sale or walkaway. Niko will be able to put this bad experience behind him.
