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- A Shooting Star
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Shooting Star — Bad Company
Sometimes when you see an egregious case of HELOC abuse, you have to ask, “On what did you spend the money?” On many of the properties we profile, the owners at least put some of the money into the property and outfitted it with pergraniteel. Apologists offer the possibility of health issues or investment, but it seem pretty obvious that most of these people just blew the money. It is living like a shooting star, you burn brightly, but it can’t go on forever, and when your equity has burned up, you just fade away. Today’s featured property took over $400,000 out of their home, and it is being offered for sale as a fixer upper. So I ask again, “On what did you spend the money?…
Original Source
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21 May, 2008| housingblogs |
@ 20:30