Comments on: Ask Fizzle: Home Foreclosures & Cat Workouts http://www.fiscalfizzle.com/2009/08/foreclosure-saving-on-cats/ Spicy Thoughts on Personal Finance Sat, 13 Mar 2010 19:34:32 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: The Best of Black Coffee: 43 of the Worst Personal Finance Articles of 2009 http://www.fiscalfizzle.com/2009/08/foreclosure-saving-on-cats/#comment-11835 The Best of Black Coffee: 43 of the Worst Personal Finance Articles of 2009 Thu, 31 Dec 2009 02:41:32 +0000 http://www.fiscalfizzle.com/?p=2023#comment-11835 [...] to be when I was growing up.  Anyway, Wojciech tackled an ethical dilemma regarding whether it is appropriate to walk away from a home that is worth less than is owed on it. (Note to self: find out Wojciech’s nickname ASAP [...] [...] to be when I was growing up.  Anyway, Wojciech tackled an ethical dilemma regarding whether it is appropriate to walk away from a home that is worth less than is owed on it. (Note to self: find out Wojciech’s nickname ASAP [...]

]]> By: Wojciech Kulicki http://www.fiscalfizzle.com/2009/08/foreclosure-saving-on-cats/#comment-5108 Wojciech Kulicki Fri, 28 Aug 2009 11:19:01 +0000 http://www.fiscalfizzle.com/?p=2023#comment-5108 Thanks for sharing, Len! I think renting is becoming 'cool' again, for the reasons you mention - people saw houses as in-and-out investments for a long time and suddenly realized that they could get stuck. A lot of them didn't like it! For those of us looking for stability and a long-term commitment, homes are a good bet (although circumstances change unpredictably, so who knows what will happen in 3-5 years?). Ultimately, it should be a very personal decision, and far from automatic. Thanks for sharing, Len! I think renting is becoming ‘cool’ again, for the reasons you mention – people saw houses as in-and-out investments for a long time and suddenly realized that they could get stuck. A lot of them didn’t like it!

For those of us looking for stability and a long-term commitment, homes are a good bet (although circumstances change unpredictably, so who knows what will happen in 3-5 years?).

Ultimately, it should be a very personal decision, and far from automatic.

]]> By: Wojciech Kulicki http://www.fiscalfizzle.com/2009/08/foreclosure-saving-on-cats/#comment-5107 Wojciech Kulicki Fri, 28 Aug 2009 11:15:27 +0000 http://www.fiscalfizzle.com/?p=2023#comment-5107 I'd like to think so too; otherwise, I fear a worse collapse of the system than what we saw over the last few years. I think many people are in your position as well (stability for kids plays a part, too!), and are too attached beyond the simple finances. I’d like to think so too; otherwise, I fear a worse collapse of the system than what we saw over the last few years. I think many people are in your position as well (stability for kids plays a part, too!), and are too attached beyond the simple finances.

]]> By: Len Penzo http://www.fiscalfizzle.com/2009/08/foreclosure-saving-on-cats/#comment-5089 Len Penzo Fri, 28 Aug 2009 01:42:31 +0000 http://www.fiscalfizzle.com/?p=2023#comment-5089 Before I start, Wojciech, I hope you don't mind if say hello to Logo Girl! I've got a big crush on her. ;-) Okay, let me compose myself... ;-) Having been in that position for seven long years during the southern California housing slump of the 1990s, I don't feel bad saying heck yes it's unethical (!) - assuming the owners have the means to pay their mortgage, of course. I was stuck for seven years in a house I had completely outgrown, but that's the way it goes. If I wanted to move badly enough I would have sucked it up and paid the extra $15000 required to get out from under that mortgage. It all worked out, I got into my next house at the absolute bottom of the last housing run-up in 1997 (remember that one?) and still have massive equity built up despite the huge losses suffered over the past couple of years. :-) My $0.02 (after taxes), Len Len Penzo dot Com Before I start, Wojciech, I hope you don’t mind if say hello to Logo Girl! I’ve got a big crush on her. ;-)

Okay, let me compose myself… ;-)

Having been in that position for seven long years during the southern California housing slump of the 1990s, I don’t feel bad saying heck yes it’s unethical (!) – assuming the owners have the means to pay their mortgage, of course.

I was stuck for seven years in a house I had completely outgrown, but that’s the way it goes. If I wanted to move badly enough I would have sucked it up and paid the extra $15000 required to get out from under that mortgage.

It all worked out, I got into my next house at the absolute bottom of the last housing run-up in 1997 (remember that one?) and still have massive equity built up despite the huge losses suffered over the past couple of years. :-)

My $0.02 (after taxes),

Len
Len Penzo dot Com

]]> By: The Smarter Wallet http://www.fiscalfizzle.com/2009/08/foreclosure-saving-on-cats/#comment-5057 The Smarter Wallet Thu, 27 Aug 2009 05:29:29 +0000 http://www.fiscalfizzle.com/?p=2023#comment-5057 Thanks for the coverage. Walking away is an incredibly tough dilemma indeed. My inclination is that I wouldn't do it, if I were ever in this situation, because I love my home. I'd tough it out. But many people are backed in the corner and have no other choice -- I'd like to think that most people who do have the choice won't do it. Thanks for the coverage. Walking away is an incredibly tough dilemma indeed. My inclination is that I wouldn’t do it, if I were ever in this situation, because I love my home. I’d tough it out. But many people are backed in the corner and have no other choice — I’d like to think that most people who do have the choice won’t do it.

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