Major midwestern IL city, low cost of living, real estate rates do not fluctuate much, very consistent.

It just assumes that the house is on par with its neighbors, which can cause some fluctuation in value.

If rates are allowed to fluctuate normally, without the influx of 80 billion per month created in thin air, they'll rise.

The models could be adjusted for lease renewal and refinancing risk as well as cap rate fluctuations to see what they do to the NPV of the two alternatives.On the surface, taking payments seems the best route as the only risk is really based on one guy's ability to repay the debt (or his company or family etc).

I know there are some uncertainties with condo fees fluctuating but I'd like to think that if the numbers make sense it should not make a huge difference.

Here, the restrictions aren't too bad as to residential, if they are on a federal register you may have other issues.The market is so unique that values may not be impacted at all by local market fluctuations, economic conditions or other factors that usually influence other homes, at least here.

This one focuses a little more on the debt cycle and basis of our economic fluctuations.

Even worst case scenario HELOC's max out usually at 18% (margin and indexed considered).Credit cards and HELOC's have the same risk since both financial facilities base their rate off a fixed margin + prime rate and prime fluctuates.

I'm pretty sure this is more of an income problem and not a case of poor money management.As you look at his actual household income, if 40%+ of his income has to go to housing obligations, the real answer maybe sell the house and find something more affordable.Income fluctuates based on sales, and housing obligations likely exceed 40% in some months.

It also seems that you guys have fluctuating schedules.