Re: House prices and Equity release?

Mar 25, 2007 3 Replies


I can now borrow lots of money on my house or I can sell it for lots more


>money because, apparently, it is worth more.
>
> Since my house is an even worse shithole than it was a couple of years ago
> I'm wondering how that happened.....
>
> I've sort of noticed that shitholes similar to mine have also risen in
> price so if I sold mine to realise the profit I could buy a similar
> shithole for the same price.
>
> I have also noticed that if I did not have a shithole in the first place I
> could borrow more money than I could before to buy one.
>
> I think I am then allowed to remortgage it, put a plastic thing in the
> garden, buy a new sofa and have an MDF kitchen.
>
> Then I can get a loan to pay off all of my debts.
>
> I'm sort of confused.
>
> Has someone got some good advice?
>
> DNA
>

Buy your neighbors house, that they cant afford. and rent it out to them. ;)


Cheers


He's already tried that, but hobo-joe won't part with his cardboard box.

*THAT* is a superb idea. To keep them as renters, give them a discount on the 12th month if all payments during proceeding months are on time.

Upgrade him to a tinfoil hat?

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