Posted on 02/15/2008 10:48:40 PM PST by RKBA Democrat
“Isn’t the real point whether or not you have the discipline to hold on to the equity in iquidity, vs having it locked up in the house-—where you’re unable to splurge it?”
Leverage can be a good thing. HOWEVER, given the large amount of consumer debt already out there and the low savings rate, I question whether most people have the discipline to invest the proceeds and not spend the money. It’s also a different issue to risk your personal shelter in the process.
“I like Dave Ramsey and he has some really good advice for people who don’t know how to manage what little money they have, but he is wrong on paying off your mortgage.”
Key point: people who don’t know how to manage what little money they have. The folks that Dave Ramsey caters to are generally within this category and are usually up to their eyeballs in hock. They are addicted to debt. They don’t need an investment program, they need to get clean and sober.
Right. And that doesn’t mean the idea wasn’t ludicrous, in any case. LOL.
It's a good feeling knowing that a lender can't take my home if I lose my job.
Thanks!
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