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Dept store Quartermaster
Join Date: Jul 2001
Location: I'm right here Tati
Posts: 19,858
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How far in the hole are you?
Per Shuie's request I thought this would be a good chance for me to try a poll. So how upside-down are you financially?
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Cornpoppin' Pony Soldier |
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08-12-2004, 08:00 AM
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Detached Member
Join Date: May 2003
Location: southern California
Posts: 26,964
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House loan 14 years left which I can manage, car loan, ditto. Daughter going to college in September, will be borrowing on a second for that. Otherwise a few thou on credit cards, which is due to wife's recent mastectomy. Otherwise doing OK. House is worth several hundred thou more than I bought it for today, who knows about tomorrow(southern california you know).
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Hugh |
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08-12-2004, 08:24 AM
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Too big to fail
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$148k mortgage. I own everything else free and clear, 'cept ~$500 I spent @ Home Depot el al last weekend. I'm guessing my house is worth mid-high $200k's
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"You go to the track with the Porsche you have, not the Porsche you wish you had." '03 E46 M3 '57 356A Various VWs |
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08-12-2004, 08:33 AM
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Join Date: Aug 2003
Location: SF Bay Area
Posts: 7,970
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Well if you count mortgage, especially in the Bay Area, this'll be a very lopsided poll.
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08-12-2004, 08:42 AM
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Dept store Quartermaster
Join Date: Jul 2001
Location: I'm right here Tati
Posts: 19,858
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This is not just "total debt". This is for those with a negative net worth. So you guys with big mortgages are fine unless you owe more than your home is saleable for.
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Cornpoppin' Pony Soldier |
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08-12-2004, 09:02 AM
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A Man of Wealth and Taste
Join Date: Dec 2002
Location: Out there somewhere beyond the doors of perception
Posts: 51,063
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Assets MINUS debt = Net Worth
600K house MINUS 500K mortgage = 100K Net Worth Upside down looks like this 600K house Minus 700K mortgage = Sweet Mother just put me down.... This is a scenerio that Wayne is betting on.....
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Copyright "Some Observer" |
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08-12-2004, 09:05 AM
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hmmm,..... i owe my co-worker $5.00 for my share of yesterday's lotto ticket.
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poof! gone |
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08-12-2004, 09:15 AM
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Registered
Join Date: Jan 2001
Location: So. Cal.
Posts: 9,115
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I consider myself lucky. I own everything outright (of course I'm still driving my '89 Ford Club Wagon - great shape w/about 220K miles, so I'm looking at getting a new one this coming year). I don't have any obligations other than monthly bills & credit cards, which I pay off each month. If there is a So Cal housing bubble burst, I might consider taking some advantage of it on a cash basis.
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Marv Evans '69 911E |
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08-12-2004, 09:15 AM
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Join Date: Aug 2003
Location: SF Bay Area
Posts: 7,970
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Ok, if that's the case, the picture is indeed brighter. 17 years left on the mortgage, lots of equity, pay cash for everything except for Costco stuff in which I use their AMEX card and pay it off every month in full plus get a rebate at year's end. I'm not rolling in dough but that wouldn't matter anyway since I'm a cheap ba$tard. So take me off the "Sweet mother" category and put me in the "I'm a miser and owe nothing" group.
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08-12-2004, 09:26 AM
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I just have my VW to pay off. I can't afford to even think about a mortgage.
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Modes of Transportation: 1984 Porsche 911 Targa 2003 VW Jetta GLI |
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08-12-2004, 10:04 AM
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Too big to fail
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Quote:
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"You go to the track with the Porsche you have, not the Porsche you wish you had." '03 E46 M3 '57 356A Various VWs |
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08-12-2004, 11:12 AM
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Join Date: Jul 2000
Location: Central Kentucky
Posts: 3,686
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I don't owe anything - I even use AMEX rather than credit cards and it's clear. Which makes me wonder why a debt consolidation company keeps leaving me voice mails, almost daily. I'll be swimming in debt next year though, when I take the plunge and buy a condo. Ahh, utilities, property taxes, mortgage, furniture, assessments - the American Dream.
Emanuel (or is that winning the lottery now?)
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"Motorcycles... the cigarettes of transportation." Seth Myers |
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08-12-2004, 06:28 PM
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Registered
Join Date: Apr 2000
Location: Mid-life crisis, could be anywhere
Posts: 10,382
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I owe approximately $1.5 million on real estate loans.
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'95 993 C4 Cabriolet Bunch of motorcycles |
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08-12-2004, 07:43 PM
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entertaining the idea
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My parents made too much for me to get financial aid....so I owe a small fortune in college loans
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There are some who call me... 'Tim'. a well set-up 1983 Guards Red 944 |
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08-12-2004, 08:12 PM
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Join Date: Jul 2000
Location: Central Kentucky
Posts: 3,686
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Hey, sell me that '83 and you'll make a dent!
 Just kidding, but I do plan to buy a nicer one next month - I've been running the numbers on fixing my '44 up and I think I'll do better tracking down a low-mileage "garage queen" for 5 grand or so. Emanuel
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"Motorcycles... the cigarettes of transportation." Seth Myers |
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08-13-2004, 03:00 PM
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Join Date: Feb 2004
Location: SEAL BEACH,CALIF
Posts: 620
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3.7 MILLION IN PROPERTY, 92K IN LOANS 2,200. CREDIT CARDS PAID OFF EACH MONTH NO OTHER DEBTS
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08-29-2004, 06:07 PM
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1984 Porsche 911 Carrera Targa 3.2 L
1983 Porsche 944 2.5L
