DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - Explain to Koy using small words: housing and mortgages

**we0MA4MI** · 01-02-2008, 03:56 AM

Next were a set of questions about income and spending going up/down. The rule of thumb is that you would need to be in your place for at least 3 years for you to look toward owning it. Income or spending fluctuations have the danger of putting you out of your condo before that time period is up, either by the sherriff's deputy kicking you out for foreclosure, or by your desire for a different place.

Next were a set of questions about external circumstances that might make you need to move out of town. If something like that happens, you need to be able to get out of your condo.

Based on your answers, none of those situations seem likely. But try to think of odd stuff happening. Could you handle it if you're in a condo?

01-02-2008, 03:56 AM	#20
we0MA4MI Join Date Oct 2005 Posts 422 Senior Member	Next were a set of questions about income and spending going up/down. The rule of thumb is that you would need to be in your place for at least 3 years for you to look toward owning it. Income or spending fluctuations have the danger of putting you out of your condo before that time period is up, either by the sherriff's deputy kicking you out for foreclosure, or by your desire for a different place. Next were a set of questions about external circumstances that might make you need to move out of town. If something like that happens, you need to be able to get out of your condo. Based on your answers, none of those situations seem likely. But try to think of odd stuff happening. Could you handle it if you're in a condo?
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