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| View Poll Results: Is a home an asset or liability? | |||
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17 | 56.67% |
| Liability |
  
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7 | 23.33% |
| I live in tater's whore of an ex-wife's chlamydia infested vag. |
  
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6 | 20.00% |
| Voters: 30. You may not vote on this poll | |||
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12-14-2009, 05:27 PM
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#1 |
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WSB Champion
Join Date: Feb 2008
Location: Springfield, MO
Posts: 7,146
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Is a home an asset or liability?
Which do you think and why?
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12-14-2009, 05:28 PM
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#2 | |
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Serious Business
Join Date: Nov 2008
Location: New York
Moto: 1993 ZX-11 2008 CBR1000rr
Posts: 9,723
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House is an asset
Mortgage is a liability
__________________
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12-14-2009, 05:29 PM
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#3 | |
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What?
Join Date: Nov 2008
Location: Lancaster, PA
Moto: Dirt
Posts: 578
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Quote:
__________________
Lean till you see sparks. If they are coming from your pegs you are doing good. If they are coming from you tank, you've just gained wisdom... Wisdom usually hurts. |
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12-14-2009, 05:30 PM
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#4 | |
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Follower
Join Date: Nov 2008
Posts: 5,549
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Quote:
Thanks Cap'n.
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Racing For Smiles |
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12-14-2009, 05:31 PM
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#5 | |
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WSB Champion
Join Date: Feb 2008
Location: Springfield, MO
Posts: 7,146
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Quote:
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12-14-2009, 05:32 PM
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#6 |
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Follower
Join Date: Nov 2008
Posts: 5,549
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I wish more people treated their home as a liability rather than an "investment".
__________________
Racing For Smiles |
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12-14-2009, 05:36 PM
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#7 | ||
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Serious Business
Join Date: Nov 2008
Location: New York
Moto: 1993 ZX-11 2008 CBR1000rr
Posts: 9,723
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Quote:
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12-14-2009, 05:36 PM
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#8 | ||
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Ride Naked.
Join Date: Feb 2008
Location: Flat and Straight ND
Moto: 08 BUELL 1125R, 05 SV650S
Posts: 7,916
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It is a liabilty when you first purchase it.
As you maintain/improve it and make payments on it, it becomes an asset. An asset by def is an item of ownership convertible into cash, which a house is.
__________________
Adrenaline... the wonder drug. Quote:
Quote:
3662 Supply NCO 
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12-14-2009, 05:44 PM
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#9 | |
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Serious Business
Join Date: Nov 2008
Location: New York
Moto: 1993 ZX-11 2008 CBR1000rr
Posts: 9,723
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I own a structure called a house.
In order to purchase this structure, I got SECURED loan. The value of the home after the loan agreement is irrelevant. It's mine. Its an asset. Basic stuff
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12-14-2009, 05:47 PM
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#10 |
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Custom User Title
 
Join Date: Nov 2008
Location: Central NY
Moto: 2003 SV650S
Posts: 14,959
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both
it's an asset until something happens to it and makes it a liability
__________________
I'm not "fat." I'm "Enlarged to show texture." Handle every stressful situation like a DOG: If you can't eat it or hump it, pi$$ on it & walk away. |
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