Get out of debt....
- Thread starter Chrishaune
- Start date
RennisDeynolds
I am untethered and my rage knows no bounds!
lolThat's the entry fee
You can do it all well and still be screwed. A lot of folks in canada bought a house or condo 2 years ago and are now carrying a mortgage that's higher than the value of their home. If they can't afford their payments and sell they are now in debt.
It’s insane but so true
Bboystyle
Bang Bang Packers gang!
For all i did for them
You not wrong, but
That ship done sailed. You not gonna get the average American to save money. Even senior citizens have given in to consumerism and the need to spend money needlessly.
Why Retirees Are Carrying More and More Debt
Why Retirees Are Carrying More and More Debt
Fed data shows sharp rise in how much older adults owewww.aarp.org
Creditors are going to be the first ones running up into bankruptcy courts filing their own bankruptcies.
Facts
Toronto condo buyers abandon units worth less than they paid
Developers and banks scramble to offer financing solutions as buyers struggle to secure mortgages
www.mpamag.com
The issue isn’t limited to high-end condos. In one case, a 535-square-foot one-bedroom unit at 55 Charles St. East, purchased for $850,000 in January 2020, was appraised at just $700,000 when the building was completed in 2024.
You walk away you lose you're deposit, you stay you're struggling to get a mortgage and even if you do you're paying more per month than what the value is. Just like that you're whole life savings can be gone and you're in debt
It’s so crazy but I bet this is super commonToronto condo buyers abandon units worth less than they paid
Developers and banks scramble to offer financing solutions as buyers struggle to secure mortgages
The issue isn’t limited to high-end condos. In one case, a 535-square-foot one-bedroom unit at 55 Charles St. East, purchased for $850,000 in January 2020, was appraised at just $700,000 when the building was completed in 2024.
You walk away you lose you're deposit, you stay you're struggling to get a mortgage and even if you do you're paying more per month than what the value is. Just like that you're whole life savings can be gone and you're in debt
Leaving nothing behind for your kids or grandkids because you spent it all. And having them foot the bill for your funeral is nasty work.shyt, being a retiree is the best time to be in debt. U on your last legs and dont need credit for anything. Let them cards pile up, u gonna die in the next decade or so anyways
This is true. Goal is to leave something for them to build with.Leaving nothing behind for your kids or grandkids because you spent it all. And having them foot the bill for your funeral is nasty work.
Bboystyle
Bang Bang Packers gang!
Leaving nothing behind for your kids or grandkids because you spent it all. And having them foot the bill for your funeral is nasty work.
Sir Richard Spirit
Superstar
Get you a credit union. Borrow from the credit union to pay your debt off. Then pay them back at a lower rate. I’ve done it for my wife and myself.