Comments on: How to Ruin Your Finances and Risk Losing Your Home http://blog.redfin.com/losangeles/2008/05/how_to_ruin_your_finances_and_risk_losing_your_home.html Redfin Los Angeles Sweet Digs Thu, 09 Feb 2012 13:33:45 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: How a $170,000 House Turned Into Bankruptcy | Redfin Los Angeles Sweet Digs http://blog.redfin.com/losangeles/2008/05/how_to_ruin_your_finances_and_risk_losing_your_home.html/comment-page-1#comment-12168 How a $170,000 House Turned Into Bankruptcy | Redfin Los Angeles Sweet Digs Wed, 14 May 2008 15:02:09 +0000 http://blog.redfin.com/losangeles/2008/05/how_to_ruin_your_finances_and_risk_losing_your_home.html#comment-12168 [...] yesterday’s post was Part 1 of People Who Have No Self-Control When It Comes to Money (And the Lenders Who Love [...] [...] yesterday’s post was Part 1 of People Who Have No Self-Control When It Comes to Money (And the Lenders Who Love [...]

]]> By: theron http://blog.redfin.com/losangeles/2008/05/how_to_ruin_your_finances_and_risk_losing_your_home.html/comment-page-1#comment-12159 theron Tue, 13 May 2008 23:25:26 +0000 http://blog.redfin.com/losangeles/2008/05/how_to_ruin_your_finances_and_risk_losing_your_home.html#comment-12159 Same again Lance. The bailout talk is particularly annoying for someone like me who has been saving for a house for years but felt that the market was way overheated. Any bailout just pushes the inevitable a little further away for those of us who can control our impulses. Sigh... Same again Lance. The bailout talk is particularly annoying for someone like me who has been saving for a house for years but felt that the market was way overheated. Any bailout just pushes the inevitable a little further away for those of us who can control our impulses. Sigh…

]]> By: Cindy Allen http://blog.redfin.com/losangeles/2008/05/how_to_ruin_your_finances_and_risk_losing_your_home.html/comment-page-1#comment-12148 Cindy Allen Tue, 13 May 2008 17:39:00 +0000 http://blog.redfin.com/losangeles/2008/05/how_to_ruin_your_finances_and_risk_losing_your_home.html#comment-12148 Lance, I could not agree with you more. Lance, I could not agree with you more.

]]> By: Cindy Allen http://blog.redfin.com/losangeles/2008/05/how_to_ruin_your_finances_and_risk_losing_your_home.html/comment-page-1#comment-12147 Cindy Allen Tue, 13 May 2008 17:38:22 +0000 http://blog.redfin.com/losangeles/2008/05/how_to_ruin_your_finances_and_risk_losing_your_home.html#comment-12147 Anita, I seriously doubt it, although I agree that it would be nice. I once worked with a guy -- an assistant business editor, who should know about personal finance -- who ran up $50K in credit-card debt every two years, then refi'd his house to pay it off. He and his wife just had poor impulse control, and an inability to delay gratification. In my experience, that doesn't usually change in people. Anita, I seriously doubt it, although I agree that it would be nice. I once worked with a guy — an assistant business editor, who should know about personal finance — who ran up $50K in credit-card debt every two years, then refi’d his house to pay it off. He and his wife just had poor impulse control, and an inability to delay gratification. In my experience, that doesn’t usually change in people.

]]> By: Lance http://blog.redfin.com/losangeles/2008/05/how_to_ruin_your_finances_and_risk_losing_your_home.html/comment-page-1#comment-12145 Lance Tue, 13 May 2008 16:56:32 +0000 http://blog.redfin.com/losangeles/2008/05/how_to_ruin_your_finances_and_risk_losing_your_home.html#comment-12145 I read this article on Sunday and could only shake my head. I love reading the Money Makeover, however this was the most depressing one yet. This is exactly why there should not be a bailout. There has to come a time when people need to be responsible for their decisions. A financial planner would have most likely recommended that Ms. Cardena's sell her home after the breakup, however she rather use the home as an ATM and continue to rack up debt knowing all the time that she really couldn't afford the mortgage. Then the financial irresponsibility continues in light of her current financial trouble, she buys her daughter a car and takes an extravagant trip. Homeownership does not change your life. You will still wake up and take a shower, get dressed and go to work. Guess what? You will even still get the chance to come home eat Dinner and get ready for bed. The gig is up. Tax payers should not be held responsible for this kind of irresponsibility. I read this article on Sunday and could only shake my head. I love reading the Money Makeover, however this was the most depressing one yet. This is exactly why there should not be a bailout. There has to come a time when people need to be responsible for their decisions. A financial planner would have most likely recommended that Ms. Cardena’s sell her home after the breakup, however she rather use the home as an ATM and continue to rack up debt knowing all the time that she really couldn’t afford the mortgage. Then the financial irresponsibility continues in light of her current financial trouble, she buys her daughter a car and takes an extravagant trip.

Homeownership does not change your life. You will still wake up and take a shower, get dressed and go to work. Guess what? You will even still get the chance to come home eat Dinner and get ready for bed. The gig is up.

Tax payers should not be held responsible for this kind of irresponsibility.

]]> By: Anita http://blog.redfin.com/losangeles/2008/05/how_to_ruin_your_finances_and_risk_losing_your_home.html/comment-page-1#comment-12144 Anita Tue, 13 May 2008 16:34:00 +0000 http://blog.redfin.com/losangeles/2008/05/how_to_ruin_your_finances_and_risk_losing_your_home.html#comment-12144 I wonder if they ever go back and do a follow up? I'd be interested to see if she learned from her mistakes. I wonder if they ever go back and do a follow up? I’d be interested to see if she learned from her mistakes.

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