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im down to -$300k after this term, and I'm a 3L now.. will be down $-345k after all is said and done (undergrad, auto, student, upside down mortgage).

Is anyone here broker than me?

eddietx12 wrote:im down to -$300k after this term, and I'm a 3L now.. will be down $-345k after all is said and done (undergrad, auto, student, upside down mortgage).

Is anyone here broker than me?

I highly fucking doubt it. 345k?????? I'd start playing the lotto or working towards becoming a professional athlete. Otherwise, you are fucked.

(please don't have kids)

Well...upside-down mortage I wouldn't really count as "debt", as long as you can still make the payments for a few years you may see some appreciation in its value (unless it's in the southwest...).

eddietx12 wrote:im down to -$300k after this term, and I'm a 3L now.. will be down $-345k after all is said and done (undergrad, auto, student, upside down mortgage).

Is anyone here broker than me?

Damn it will take a hell of a lot of broker's commissions to pay that off. GL

pugalicious wrote:Well...upside-down mortage I wouldn't really count as "debt", as long as you can still make the payments for a few years you may see some appreciation in its value (unless it's in the southwest...).

Really? If a mortgage isn't debt, what the hell is it?


And OP, that is freakin' crazy. I doubt very many have you beat in the debt category.

an asset

The home is an asset, the debt is not.

You are an inspiration to us all. Hope you have Biglaw.

Flanker1067 wrote:You are an inspiration to us all. Hope you have Biglaw.

I mean, even that isn't going to do it. I don't see how you can actually pay that off. Who even lets you borrow that much?

stinger35 wrote:

Flanker1067 wrote:You are an inspiration to us all. Hope you have Biglaw.

I mean, even that isn't going to do it. I don't see how you can actually pay that off. Who even lets you borrow that much?

The robot overlords running this country.

stinger35 wrote:

Flanker1067 wrote:You are an inspiration to us all. Hope you have Biglaw.

I mean, even that isn't going to do it. I don't see how you can actually pay that off. Who even lets you borrow that much?

Its very doable, even on less than a BigLaw salary.

macattaq wrote:

stinger35 wrote:

Flanker1067 wrote:You are an inspiration to us all. Hope you have Biglaw.

I mean, even that isn't going to do it. I don't see how you can actually pay that off. Who even lets you borrow that much?

Its very doable, even on less than a BigLaw salary.

Well lets see, less than Biglaw salary lets say $50,000. minus taxes $35,000 net. $345k @ 8% interest over 30 years equals $30k per year. If you can live on $5,000./year very doable.

AtticusFinch wrote:Well lets see, less than Biglaw salary lets say $50,000. minus taxes $35,000 net. $345k @ 8% interest over 30 years equals $30k per year. If you can live on $5,000./year very doable.

I'm guessing OP has a working spouse to help shoulder the mortgage and auto debt. $50k est. salary is pretty low for a UT grad. 345k is doable