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<blockquote data-quote="Artee" data-source="post: 5643152" data-attributes="member: 24351"><p>Look how many people tried to pretend they were banks back in 2005-06. Borrowed money out of their 401k's, took seconds out on their homes, all to purchase another house or two. Gotta put that money to work. The one thing people forget is you don't get the same protections and bailouts from the government that banks do. Their risk is very little compared to yours. </p><p></p><p>By 2009 I had two co-workers who had well worth of a million plus in real estate in 2007, walk away from everything. One guy walked away from two rentals and his primary along with $250k he had taken from his 401k. Starting all over at 46 years old. Here he is at 60 and is making payments on his two bedroom condo and trying to save every penny possible so he can retire in a few years.</p></blockquote><p></p>
[QUOTE="Artee, post: 5643152, member: 24351"] Look how many people tried to pretend they were banks back in 2005-06. Borrowed money out of their 401k's, took seconds out on their homes, all to purchase another house or two. Gotta put that money to work. The one thing people forget is you don't get the same protections and bailouts from the government that banks do. Their risk is very little compared to yours. By 2009 I had two co-workers who had well worth of a million plus in real estate in 2007, walk away from everything. One guy walked away from two rentals and his primary along with $250k he had taken from his 401k. Starting all over at 46 years old. Here he is at 60 and is making payments on his two bedroom condo and trying to save every penny possible so he can retire in a few years. [/QUOTE]
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