to walk away...
oh there are so many things i want to blog about today. i could blog about kanye taking the mic from taylor swift, but i have nothing new to add to that discussion. i could talk about the 4th, debatable F, but i'm not in the mood for that, so i'll save that for later, or i could again talk about obamacare, and how it's strange that there was a huge march against it, but i haven't seen any mainstream news coverage of it. the streets were full. that's news. but i'll save that for a day when i have more energy. for today, i'll talk about underwater mortgages, bitchass HOAs and walking away. not just any mortgage. mine.
So, my mortgage is underwater. listen to the county of alameda and what they want me to pay in taxes and it's $100,000 underwater. listen to independent appraisers with no incentive to overinflate the value, and it's just over $200,000 underwater. or just over 50%.
okay, that's fine. as i said in an earlier post, equity, gained or lost, is not real until you sell. at least by the accounting rules that i have to play by. so because i'm gainfully employed and have cash reserves, there is no urgent financial pressure to make any moves. i'm not on the brink of foreclosure.
however, i do have a bitchass HOA. one that likes to mail out nasty grams about fees and shit. one that likes to raise fees but not fix shit. hello perpetually borken gate. what is the point of having a gate, if it's stuck open half of the time. but back to their fees. they throw out $100 fees left and right, and say they are due immediatley. with no due process. even the government isn't on that much of a power trip. you at least have about 3 months to pay your tickets and there is a process by which you can appeal said ticket. so should i get a fine from the HOA, i'll be sure to tell them to go f- themselves. oh wait, they tried that and i told them i'd see them in court. fee magically disappeared.
so anyhow, their latest act of bitchassness is to require that we put stickers on our back windows, to identify our cars, so that they know if someone is committing a parking infraction. last i checked, i PAID for my parking spots. i will let you know if someone is in one of them. i don't need you hiring security to verify stall numbers with stickers. security i have to pay for via the ever rising HOA dues. and i don't put stickers on my beemer unless there is huge incentive for ME. providing you another way to bother me is not incentive.
so anyhow, i have an underwater no-recourse mortgage. a bitchass HOA, cash on hand, a husband (in a family way, but not a legal way your debt is my debt way) with perfect credit, and enough knowledge to get my name on the next title but not the mortgage. because with a default i can't for a few years. but i can pay him directly. or something, since he's in favor of me walking away, i'm sure we can work something out.
so what does that mean? it's the perfect storm for walking away.
i've gone from that not being an option to considering it. why? because of the HOA and the stress they cause from their constant threats and nasty grams.
and this my friends, is why i say save your money and always have cash. no matter what your credit score, boatloads of cash will solve all problems.
that is all. time to go back to getting my f-u-money.
So, my mortgage is underwater. listen to the county of alameda and what they want me to pay in taxes and it's $100,000 underwater. listen to independent appraisers with no incentive to overinflate the value, and it's just over $200,000 underwater. or just over 50%.
okay, that's fine. as i said in an earlier post, equity, gained or lost, is not real until you sell. at least by the accounting rules that i have to play by. so because i'm gainfully employed and have cash reserves, there is no urgent financial pressure to make any moves. i'm not on the brink of foreclosure.
however, i do have a bitchass HOA. one that likes to mail out nasty grams about fees and shit. one that likes to raise fees but not fix shit. hello perpetually borken gate. what is the point of having a gate, if it's stuck open half of the time. but back to their fees. they throw out $100 fees left and right, and say they are due immediatley. with no due process. even the government isn't on that much of a power trip. you at least have about 3 months to pay your tickets and there is a process by which you can appeal said ticket. so should i get a fine from the HOA, i'll be sure to tell them to go f- themselves. oh wait, they tried that and i told them i'd see them in court. fee magically disappeared.
so anyhow, their latest act of bitchassness is to require that we put stickers on our back windows, to identify our cars, so that they know if someone is committing a parking infraction. last i checked, i PAID for my parking spots. i will let you know if someone is in one of them. i don't need you hiring security to verify stall numbers with stickers. security i have to pay for via the ever rising HOA dues. and i don't put stickers on my beemer unless there is huge incentive for ME. providing you another way to bother me is not incentive.
so anyhow, i have an underwater no-recourse mortgage. a bitchass HOA, cash on hand, a husband (in a family way, but not a legal way your debt is my debt way) with perfect credit, and enough knowledge to get my name on the next title but not the mortgage. because with a default i can't for a few years. but i can pay him directly. or something, since he's in favor of me walking away, i'm sure we can work something out.
so what does that mean? it's the perfect storm for walking away.
i've gone from that not being an option to considering it. why? because of the HOA and the stress they cause from their constant threats and nasty grams.
and this my friends, is why i say save your money and always have cash. no matter what your credit score, boatloads of cash will solve all problems.
that is all. time to go back to getting my f-u-money.
posted by techdiva at
11:57 AM
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