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piggipiggy

New member
Hello everyone!  I stumbled across this forum and found the discussions here very interesting and insightful.  I'd like to introduce myself and my husband to the community and we're here to learn and exchange ideas with everyone. We are DINKs (Dual Income No Kids) in our early 30s and we currently have a 2br condo in the UTC area.  My husband purchased the condo back in 2001 so we're really grateful our expenses are low compared to others who bought later on.  We are on track to be debt free and will be finished paying off our last mortgage payment at the end of this year.  We're keeping an eye out for good opportunities to upgrade to a 3br once we're done paying off our condo.  In this age of short sales and foreclosures, we're really glad we made the decision to be conservative, become true homeowners and have the financial peace and freedom to be stress free.  Our decision to be debt free definitely raised a lot of questions among our friends who believe that we're not taking advantage of low interest rates,etc but we've made a decision as a family that financial peace will be our focus and value.

Looking forward to all the good discussion on this forum!  :)


 
Welcome to TalkIrvine Piggipiggy!
Your goals are very admirable and congratulations on being able to pay your mortgage in full by year end. You'll find many great people here in the Talk Irvine community. You shouldn't have any difficulty fitting in at all. Thanks for sharing.

Panda
 
 
Welcome to TI and it's nice to see you had the patience to wait it out (and pay your home off) for the last 9 years.

If you can muster it... you may want to hold off a few years more until we see how this all pans out... there still seems to be lots of foreclosure shadow inventory out there and according to the people who know more... that's going to affect the market quite a bit once they hit.
 
Thanks for the warm welcome! 

We're just observing silently on what's going on in the market, we're not in a big hurry at all to buy (and get right back into debt).  My husband works in the foreclosed mortgage industry and his company is projecting more defaults in the upcoming years due to all the 5/1 ARMs coming to term.  Hopefully in the next few years while we wait it out we'll save up a sizeable down payment or to buy all cash (rice and beans for the next 10 years!).

We're only looking for a really good deal these days, if that's possible anymore.
 
Hi, Piggy. Congrats. Your financial prudence is wise and your discipline admirable. It is freeing to not have the bondage of debt.

(You mentioned introducing your husband. Did he register here too?)
 
Welcome and what you are doing is very admirable.  That's great.  Definitely wait it out if you could.  Also having "in industry" insight from your husband will help a lot.  I think the effect on interest rate change on the arms will not be as big as people think.  The IO to PI payment shock will be a bigger effect as well as the drop in property value.  I also believe the main driver is still jobs.  So there are still a lot of things that can change.
 
Welcome to TI.  You have put yourself in a great financial position and will be able to benefit if another housing downturn comes up.  I too have been living under my means for the past 2 years or so and it feels good to be saving as much money as I do each month.  One day I hope to be a FCB.  haha
 
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