Wealthy Asian Parents and Outpatient Care
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graceomalley
New member
[quote author="mogul"]graceomalley, people can do whatever they want with their money.
[/quote]
Did I hit a sore spot there? I hope I did not just describe your scenario in offending you when you might be considering your inlaws money for the downpayment of a home?
Many over extended themselves to a point when they lose their job or become ill that their dream would be over after having missed several months of mortgage payment. Having a little one one should even be more conservative in expediture.
You are young and have not been through the last 3 recessions like I have.
Let me share an example with you. A Korean couple who bought a house in Woodbury and I won't name the tract were facing unemployment problem. Without their dual incomes they can't make it. This led to other arguments in their marriage.
They lost the will to even keeping the house neat and tidy to show off their home. His anger and frustration also resulted in several fist size holes on the walls that he did not even care enough to patch. They just wanted out.
You should have at least a year of Mortgage and living expenses in your saving.
I have seen way too many incidents like this.
[/quote]
Did I hit a sore spot there? I hope I did not just describe your scenario in offending you when you might be considering your inlaws money for the downpayment of a home?
Many over extended themselves to a point when they lose their job or become ill that their dream would be over after having missed several months of mortgage payment. Having a little one one should even be more conservative in expediture.
You are young and have not been through the last 3 recessions like I have.
Let me share an example with you. A Korean couple who bought a house in Woodbury and I won't name the tract were facing unemployment problem. Without their dual incomes they can't make it. This led to other arguments in their marriage.
They lost the will to even keeping the house neat and tidy to show off their home. His anger and frustration also resulted in several fist size holes on the walls that he did not even care enough to patch. They just wanted out.
You should have at least a year of Mortgage and living expenses in your saving.
I have seen way too many incidents like this.
panda
Well-known member
[quote author="graceomalley"]
[quote author="mogul"]graceomalley, people can do whatever they want with their money.
[/quote]
Did I hit a sore spot there? I hope I did not just describe your scenario in offending you when you might be considering your inlaws money for the downpayment of a home?
Many over extended themselves to a point when they lose their job or become ill that their dream would be over after having missed several months of mortgage payment. Having a little one one should even be more conservative in expediture.
You are young and have not been through the last 3 recessions like I have.
Let me share an example with you. A Korean couple who bought a house in Woodbury and I won't name the tract were facing unemployment problem. Without their dual incomes they can't make it. This led to other arguments in their marriage.
They lost the will to even keeping the house neat and tidy to show off their home. His anger and frustration also resulted in several fist size holes on the walls that he did not even care enough to patch. They just wanted out.
You should have at least a year of Mortgage and living expenses in your saving.
I have seen way too many incidents like this.
[/quote]
Wow! that is intense BK. I never imagined to see this behind woodbury doors. Financial and money problems are the primary reason for divorce and break down in marriages.
I know that TIC is making everyone believe that the worst recession is behind us in 2009, but what we saw in 2007-2009 is only the appetizer. 2010 - 2012 is when we will see some SERIOUS Sh$t hit the fan.
[quote author="mogul"]graceomalley, people can do whatever they want with their money.
[/quote]
Did I hit a sore spot there? I hope I did not just describe your scenario in offending you when you might be considering your inlaws money for the downpayment of a home?
Many over extended themselves to a point when they lose their job or become ill that their dream would be over after having missed several months of mortgage payment. Having a little one one should even be more conservative in expediture.
You are young and have not been through the last 3 recessions like I have.
Let me share an example with you. A Korean couple who bought a house in Woodbury and I won't name the tract were facing unemployment problem. Without their dual incomes they can't make it. This led to other arguments in their marriage.
They lost the will to even keeping the house neat and tidy to show off their home. His anger and frustration also resulted in several fist size holes on the walls that he did not even care enough to patch. They just wanted out.
You should have at least a year of Mortgage and living expenses in your saving.
I have seen way too many incidents like this.
[/quote]
Wow! that is intense BK. I never imagined to see this behind woodbury doors. Financial and money problems are the primary reason for divorce and break down in marriages.
I know that TIC is making everyone believe that the worst recession is behind us in 2009, but what we saw in 2007-2009 is only the appetizer. 2010 - 2012 is when we will see some SERIOUS Sh$t hit the fan.
graceomalley
New member
They are selling their home but apparently not much luck due to the spot light on 2010 C for many months.
A
Anonymous
Guest
[quote author="irvinehomeowner"]
[quote author="traceimage"]
But how foreign do they have to be? Do they have to currently live in a foreign country, or maybe just have been born there?[/quote]
Would "not caucasian" be better? Although I've learned recently that Middle Easterners are technically considered "caucasian".
Not sure if that answers your question, they don't necessarily have to be living over there... or even born over there. The "F" stands for ethnicity... regardless of generation.
Heck... I think CK can qualify for "F" by now... LV wallet, Kogi tacos, soju... hehe.[/quote]
I guess "non-Caucasian" or "non-white" would be more accurate if that is what we mean, since these Asian, etc buyers are not necessarily foreign.
I always thought that for someone to be a true FCB, the person, or at least the money, had to come from some other country.
I do kind of have a problem with equating non-Caucasian with "foreign," since non-Caucasian people can be just as American as anyone else. I know nobody here means any harm, I'm just saying.
[quote author="traceimage"]
But how foreign do they have to be? Do they have to currently live in a foreign country, or maybe just have been born there?[/quote]
Would "not caucasian" be better? Although I've learned recently that Middle Easterners are technically considered "caucasian".
Not sure if that answers your question, they don't necessarily have to be living over there... or even born over there. The "F" stands for ethnicity... regardless of generation.
Heck... I think CK can qualify for "F" by now... LV wallet, Kogi tacos, soju... hehe.[/quote]
I guess "non-Caucasian" or "non-white" would be more accurate if that is what we mean, since these Asian, etc buyers are not necessarily foreign.
I always thought that for someone to be a true FCB, the person, or at least the money, had to come from some other country.
I do kind of have a problem with equating non-Caucasian with "foreign," since non-Caucasian people can be just as American as anyone else. I know nobody here means any harm, I'm just saying.
[quote author="graceomalley"]
[quote author="mogul"]graceomalley, people can do whatever they want with their money.
[/quote]
Did I hit a sore spot there? I hope I did not just describe your scenario in offending you when you might be considering your inlaws money for the downpayment of a home?
Many over extended themselves to a point when they lose their job or become ill that their dream would be over after having missed several months of mortgage payment. Having a little one one should even be more conservative in expediture.
You are young and have not been through the last 3 recessions like I have.
Let me share an example with you. A Korean couple who bought a house in Woodbury and I won't name the tract were facing unemployment problem. Without their dual incomes they can't make it. This led to other arguments in their marriage.
They lost the will to even keeping the house neat and tidy to show off their home. His anger and frustration also resulted in several fist size holes on the walls that he did not even care enough to patch. They just wanted out.
You should have at least a year of Mortgage and living expenses in your saving.
I have seen way too many incidents like this.
[/quote]
That's why you buy with cash not debt where income is not relevant. You totally don't get it.
[quote author="mogul"]graceomalley, people can do whatever they want with their money.
[/quote]
Did I hit a sore spot there? I hope I did not just describe your scenario in offending you when you might be considering your inlaws money for the downpayment of a home?
Many over extended themselves to a point when they lose their job or become ill that their dream would be over after having missed several months of mortgage payment. Having a little one one should even be more conservative in expediture.
You are young and have not been through the last 3 recessions like I have.
Let me share an example with you. A Korean couple who bought a house in Woodbury and I won't name the tract were facing unemployment problem. Without their dual incomes they can't make it. This led to other arguments in their marriage.
They lost the will to even keeping the house neat and tidy to show off their home. His anger and frustration also resulted in several fist size holes on the walls that he did not even care enough to patch. They just wanted out.
You should have at least a year of Mortgage and living expenses in your saving.
I have seen way too many incidents like this.
[/quote]
That's why you buy with cash not debt where income is not relevant. You totally don't get it.
A
Anonymous
Guest
[quote author="test"]
[quote author="graceomalley"]
Did I hit a sore spot there? I hope I did not just describe your scenario in offending you when you might be considering your inlaws money for the downpayment of a home?
Many over extended themselves to a point when they lose their job or become ill that their dream would be over after having missed several months of mortgage payment. Having a little one one should even be more conservative in expediture.
You are young and have not been through the last 3 recessions like I have.
Let me share an example with you. A Korean couple who bought a house in Woodbury and I won't name the tract were facing unemployment problem. Without their dual incomes they can't make it. This led to other arguments in their marriage.
They lost the will to even keeping the house neat and tidy to show off their home. His anger and frustration also resulted in several fist size holes on the walls that he did not even care enough to patch. They just wanted out.
You should have at least a year of Mortgage and living expenses in your saving.
I have seen way too many incidents like this.
[/quote]
That's why you buy with cash not debt where income is not relevant. You totally don't get it.
[/quote]
Yeah, it would seem that the scenario BK/Grace described above would not have happened at all if the Korean couple had purchased their home with all cash.
[quote author="graceomalley"]
Did I hit a sore spot there? I hope I did not just describe your scenario in offending you when you might be considering your inlaws money for the downpayment of a home?
Many over extended themselves to a point when they lose their job or become ill that their dream would be over after having missed several months of mortgage payment. Having a little one one should even be more conservative in expediture.
You are young and have not been through the last 3 recessions like I have.
Let me share an example with you. A Korean couple who bought a house in Woodbury and I won't name the tract were facing unemployment problem. Without their dual incomes they can't make it. This led to other arguments in their marriage.
They lost the will to even keeping the house neat and tidy to show off their home. His anger and frustration also resulted in several fist size holes on the walls that he did not even care enough to patch. They just wanted out.
You should have at least a year of Mortgage and living expenses in your saving.
I have seen way too many incidents like this.
[/quote]
That's why you buy with cash not debt where income is not relevant. You totally don't get it.
[/quote]
Yeah, it would seem that the scenario BK/Grace described above would not have happened at all if the Korean couple had purchased their home with all cash.
zubs
Well-known member
It seems that all the affluent Asians I know have had some kind of help from their family. It is in fact an ingrained cultural idea that the family will help with house payments. It is common in Asia for wealthy families to pay the down or more when their kids get married.
There are a lot of scenarios to this type of financial help.
~A family could buy a house and let their kids stay there for free
~A family could buy a condo near UCI when kids go to college
~A family could pay the down
~A family could pay the whole thing in cash.
You will see a lot of this in Irvine because it is where wealthy Asians want to be. Poor Asians much like poor any race can't pay sh it for their kids.
There are a lot of scenarios to this type of financial help.
~A family could buy a house and let their kids stay there for free
~A family could buy a condo near UCI when kids go to college
~A family could pay the down
~A family could pay the whole thing in cash.
You will see a lot of this in Irvine because it is where wealthy Asians want to be. Poor Asians much like poor any race can't pay sh it for their kids.