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I'd like to know other people's opinion on something and if they had personal experiences on this.
Was any of you bothered with knowing that the guy you're dating has huge debt to pay on the house that he (or she) lives in and will be paying it of for a long time? I'm saying this because it most probably means that he actually has nothing other than a huge debt, or having a house with so-called "negative equity".
How much would this affect your opinion about this person as your potential spouse or their seriousness/standing in life? Let's just say you know this person for two weeks and this person has no parents around to live with them either - meaning that they could be homeless if something goes wrong in the long years of paying off their mortgage.
I'm sorry, I've checked other forums and even this sub-forum and couldn't find a topic that deals with this.
I'd like to know other people's opinion on something and if they had personal experiences on this.
Was any of you bothered with knowing that the guy you're dating has huge debt to pay on the house that he (or she) lives in and will be paying it of for a long time? I'm saying this because it most probably means that he actually has nothing other than a huge debt, or having a house with so-called "negative equity".
How much would this affect your opinion about this person as your potential spouse or their seriousness/standing in life? Let's just say you know this person for two weeks and this person has no parents around to live with them either - meaning that they could be homeless if something goes wrong in the long years of paying off their mortgage.
I'm sorry, I've checked other forums and even this sub-forum and couldn't find a topic that deals with this.
Someone who has the credit, career and means to be eligible for a mortgage is a GOOD catch in my eyes.
There is nothing "negative" about a person having debt in the form of a mortgage - that's "good" debt.
Location: Huntersville/Charlotte, NC and Washington, DC
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Quote:
Originally Posted by nald
I'd like to know other people's opinion on something and if they had personal experiences on this.
Was any of you bothered with knowing that the guy you're dating has huge debt to pay on the house that he (or she) lives in and will be paying it of for a long time? I'm saying this because it most probably means that he actually has nothing other than a huge debt, or having a house with so-called "negative equity".
How much would this affect your opinion about this person as your potential spouse or their seriousness/standing in life? Let's just say you know this person for two weeks and this person has no parents around to live with them either - meaning that they could be homeless if something goes wrong in the long years of paying off their mortgage.
I'm sorry, I've checked other forums and even this sub-forum and couldn't find a topic that deals with this.
Being upside down in a mortgage is pretty common these days. Now, how upside down could be a problem.
Someone who has the credit, career and means to be eligible for a mortgage is a GOOD catch in my eyes.
There is nothing "negative" about a person having debt in the form of a mortgage - that's "good" debt.
In this case it kind of does though. Doesn't it? If I understand right, the house is worth less than the balance of the mortgage. Even if it gets reposessed, it won't be enough to pay off the mortgage. Then he's on the street, and still in debt.
I just bought a house, but as far as right now goes, it was assesed at 133K, and I bought it for 107K.
If you're only willing to date people whose retirement savings exceed their debts (home, car, student loans, etc.) you're going to really be limiting yourself, especially if you like to date people younger than 40 or 50.
In this case it kind of does though. Doesn't it? If I understand right, the house is worth less than the balance of the mortgage. Even if it gets reposessed, it won't be enough to pay off the mortgage. Then he's on the street, and still in debt.
I just bought a house, but as far as right now goes, it was assesed at 133K, and I bought it for 107K.
So I'm sort of in a good spot....for now. lol
Read what he wrote again - he is considering having a mortgage for a home a negative period.
He said nothing about REAL equity or being upside down on the mortgage.
He's apparently just worried something could happen to prevent the person from paying the mortgage and then losing the house and being homeless
Anything beyond car payment and mortgage makes me skittish. I am a very debt adverse person.
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Someone who has the credit, career and means to be eligible for a mortgage is a GOOD catch in my eyes.
There is nothing "negative" about a person having debt in the form of a mortgage - that's "good" debt.
Disagree.
If you have too little equity you cannot even refi, that tells me you made a crap ass decision and took on too much house with too little down payment.
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