Interesting article published today. https://www.foxbusiness.com/features/10-cities-in-...To make the list, cities had to have rates of negative equity in excess of 8.2 percent, which is the current the U.S. national average rate of homes “underwater.” combined with the city’s mortgage delinquency rate from Zillow’s February 2019 index.

As long as you’re willing to lose the deal over it, ask away.

That's a newbie who is losing and will probably like to cut their losses.

But Dave loses his mind when he states never use credit for anything.

Is it worth losing a little money each month to live in a nice house that we actually own as opposed to renting?

I know I can lose my butt quick with reckless loans like that, the whole point is to make money after all, not pay it all in interest to a loan shark.

If you sold the car and got a $3000 car that will get you from A to B reliably, you can put that other $14k to work for you instead of putting it into a car that is (likely) losing value.

Of course, the eventual plan is to refinance the home as soon as possible through a traditional mortgage, to reduce the excessive amount of costs with high interest rates from hml.

This will save you from losing out on revenue from people who want to stay longer. 

Probably lost about 2-3 months of rent trying to “save” on labor, when really the opportunity cost was probably more expensive when you add monthly holding costs + losing out on rent.