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'The Greater Fool Theory: Does it apply to house purchases...' blog discussion

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  • zarazara
    zarazara Posts: 2,264 Forumite
    I agree, but what about the person who just needs to buy to have somewhere to live?
    "The purpose of Life is to spread and create Happiness" :j
  • hi all we baught a 3 bed house in oct 2007 on an intrest only mortage and are now in negitive equity any ideas?
  • JimmyTheWig
    JimmyTheWig Posts: 12,199 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    macs1985 wrote: »
    hi all we baught a 3 bed house in oct 2007 on an intrest only mortage and are now in negitive equity any ideas?
    There's probably better places on the site to post this, and we'd need a lot more detail to give a decent answer, but in a nutshell I'd say do everything you can to reduce your mortgage.
    Sell stuff you don't need.
    Work longer hours / extra jobs.
    Use the different areas of this site to get your bills down.
    Take in a lodger.
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