Posted by jason on March 28, 2006 at 10:45:39:
The fella COULD get a 100% HELOC and take his 12k equity, & put it as a down payment on an investment.
I feel like I may be missing things - Posted by Tim in AR
Posted by Tim in AR on March 28, 2006 at 09:43:56:
I know opportunity is everywhere but suspect I have difficulty seeing it. For example: Say a fella owns a small house in a middling neighborhood that appraised for $56,000, has a note of $44,000 and is OO. There is little liklihood of selling the house for more than $44,000. It could be safely expected to rent for $450. The fella wants to do whatever can be done, get moving forward, rather than just live in the little house and pay the payment each month. Did I mention that the fella has no cash? What would a smart person do?