I am interested to hear what the readers of this blog are doing or are planning on doing about the current market situation. Have you done any of the following?
- Reviewed your mortgage note to ensure that you are not susceptible to interest rate/payment increases/shock?
- Talked with a mortgage professional about your current loan and options to consider?
- Reviewed your current monthly ‘nut’ or outflow as compared to your income situation?
- Talked with your spouse about future plans including family changes, job changes, income changes?
- Considered your equity position in your home and whether it is one you are comfortable with?
- Considered selling your home?
- Decided to rent?
- Have considered getting out of short term loans, pay-option loans or second mortgages?
Please email me and let me know what you are doing to be proactive about the situation. I am putting together a post and would love to hear how you are protecting yourself and your family from any downturn in the housing market. I hope that everyone is doing something. As for me, I’m planning on selling. More on that later.
Last 3 posts by Morgan
- Subprime Bananas - June 28th, 2009
- Roubini: No confidence in government exit strategy - June 24th, 2009
- Goldman bonuses largest in firm's 140-year history - June 21st, 2009
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