c.t.coburn
August 12, 2008, 10:11 PM
a call-in program on cnbc just told a 36? year old single lady to dump her home, even if she had to cut the price 10% more.
in return she could save a whopping $200 mo. while renting a smaller apt.
the goal? pay off her $40k in credit card bills with the monthly savings , since she's not going to realize any equity in this market.
this is financial advice?
I'm all for paying your bills but when do you sacrifice a home before defaulting on credit cards? which you could settle later?
she had $650 car expenses they didn't mention -- I thought she should get a $650 car! period.
mom's renting a room for $300 mo., is there room for another older lady? what about storing a car or belongings for $60-90 mo.
I'll bet this forum could come up with at least couple dozen ways to beat $200 savings from dumping a home.
in return she could save a whopping $200 mo. while renting a smaller apt.
the goal? pay off her $40k in credit card bills with the monthly savings , since she's not going to realize any equity in this market.
this is financial advice?
I'm all for paying your bills but when do you sacrifice a home before defaulting on credit cards? which you could settle later?
she had $650 car expenses they didn't mention -- I thought she should get a $650 car! period.
mom's renting a room for $300 mo., is there room for another older lady? what about storing a car or belongings for $60-90 mo.
I'll bet this forum could come up with at least couple dozen ways to beat $200 savings from dumping a home.
