Mass. foreclosures

[AlanM]

I saw a report in the paper that Mass. foreclosures hit a 12 year high. People are finding they can't refinance their houses to pull out equity because of the housing price downturn, plus variable rates are climbing. This could be the start of a recession.

[tracysaboe]

Yup.

I'll have my house all paid off in about 3 years so I'll be insulated from just things. Then hopefully by that time housing prices are hitting lows, so that I can afford to purchase a home in NH outright.  The Bubble didn't hit the Midwest that much -- compaired to the costs, so hopefully 3 years from now Property values will be lower in NH then they are now but my equity where I'm at won't be decreased so much.

Tracy

[Russell Kanning]

Yup.

Good thinking Tracy ..... it might not work out quite as planned, but you will be far better off than most people.