A Quote by Ric Edelman
The people who are taking these loans because it's the only way they can afford their house are exposing themselves to a lot of risk. They're not saving money and they're not building equity, which means they could find themselves in a scenario where they owe more money than their house is worth.
Related Quotes
Now, suppose that a homeowner puts down only 3% of their own money or 3.5% for the FHA. That means if prices go down by only 3%, the house will be in negative equity and it would pay the homeowner just to walk away and say, "The house now is worth less than the mortgage I owe. I think I'm just going to move out and buy a cheaper house." So it's very risky when you have only a 3% or 3.5% equity for the loan. The bank really isn't left with much cushion as collateral.
I'm short-selling my house. I have more loans than I can sell the house for. The house will not go into foreclosure. It will be a short sale. I can't afford the house as I once could.
To mistake money for wealth, is the same sort of error as to mistake the highway which may be the easiest way of getting to your house or lands, for the house and lands themselves.
Let us never forget this fundamental truth: the State has no source of money other than money which people earn themselves. If the State wishes to spend more it can do so only by borrowing your savings or by taxing you more. It is no good thinking that someone else will pay - that 'someone else' is you. There is no such thing as public money; there is only taxpayers' money.
Once the brokerage house, rather than the bank, became the locus for American savings, that money would find its way into the stock market, because the broker was someone with a much higher tolerance for risk than the banker.
Because bankers measure their self-worth in money, and pay themselves a lot of it, they think they're fine fellows and don't need to explain themselves.
A consolidation makes sense only if you can lower your overall interest rate. Many people consolidate by taking out a home equity line loan or home equity line of credit (HELOC), refinancing a mortgage, or taking out a personal loan. They then use this cheaper debt to pay off more expensive debt, most frequently credit card loans, but also auto loans, private student loans, or other debt.
. . . you did not seem to me over-fond of money. And this is the way in general with those who have not made it themselves, while those who have are twice as fond of it as anyone else. For just as poets are fond of their own poems, and fathers of their own children, so money-makers become devoted to money, not only because, like other people, they find it useful, but because it's their own creation.
I connect with techno way more than house. I find it frustrating people call me a house artist because I think my music in general is more in the tradition of techno. House is celebratory and extroverted. I don't connect with that sentiment.
People who identify themselves as conservatives donate money to charity more often than people who identify themselves as liberals. They donate more money and a higher percentage of their incomes.
I believe that a lot of people in our society today, people who have been hurt and even people who haven't been hurt, get their worth and value from what they do, what they look like, what they own, what kind of job they have, what kind of house they live in, how much money they have, what social circles they're in, what level of education they have, especially even how other people respond to them. They feel better about themselves if everybody is giving a smiling nod to the way they look and all their choices.
People go into debt when they judge it beneficial to borrow money against their future earnings. Few can afford to buy a house outright, but many consider it worthwhile to take out a loan, which they will service and pay off over time, for the immediate privilege of living and investing in a house.
You hear a lot of rap songs about spending money. I thought, wouldn't it be funny to make a song about saving money because it's ironic, but beyond irony, I genuinely have pride in saving money.
I'm encouraging you to know what you're worth. And know that no matter who has more money in class, who has more stuff, who has a country house - nobody is worth more than anybody else.
No, I don't want your money. The world moves less by money than by what you owe people and what they owe you. I don't like to owe anybody anything, so I keep to myself as much on the lending side as I can.
A lot of ppl are making more money than they ever had nowadays - so when they get their flat they can, they always find themselves with an extra room.
Related Authors
Brian Tracy Quotes
American
Author
Cassandra Clare Quotes
American
Author
Frederick Lenz Quotes
American
Author
Henry David Thoreau Quotes
American
Author
J. K. Rowling Quotes
English
Author
Jodi Picoult Quotes
American
Author
John Green Quotes
American
Author
Joyce Meyer Quotes
American
Author
Marianne Williamson Quotes
American
Author
Neil Gaiman Quotes
British
Author
Richelle Mead Quotes
American
Author
Rick Riordan Quotes
American
Author
Robert Kiyosaki Quotes
American
Author
Stephen King Quotes
American
Author
Terry Pratchett Quotes
English
Author
Virginia Woolf Quotes
British
Author