Reply to Borrowing from TSP for down payment?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Any reputable financial adviser would tell you this is a very bad idea.  You need to pretend that money doesn’t exist and don’t touch it.[/quote]

right....as opposed to missing out on the opportunity to own a home and create equity that often surpasses what you would earn if you leave that money in your account.

[/quote]

That's what ALL the realtors and finance people used to say... see how that turned out.

You seem to want your cake and to eat it too!  You can have a house and no TSP or you can have your TSP and no house (at least not right now).  You want both.  The mindset of wanting everything without waiting is what gets people in trouble.[/quote]

^^^^ you have no idea how life works, or how finances work^^^^  But you go right ahead and stay on the side-lines and NOT buy a home because you're too chicken to take advantage of a perfectly safe tool that is at your disposal, that HAS YOUR OWN MONEY IN IT!   It's a mind-set. Clearly you are in the "afraid to live life" mind-set.[/quote]

I am guessing you are mid-30s? Not old enough to experience 2008 housing bubble?

-np[/quote]

Nope! I'm 52 which is why I know what I'm talking about.  I've been around long enough to see/experience the recession in the 70's, 80's, 90's and again in 2008.  it's this experience that has shown me that the market always bounces back, and then some.  I have bought and sold 5 different homes throughout my adult life.  By no means does that make me an expert, but I have been around the block enough times to see how the chips usually end up landing. [/quote]

PP do you think Midwest market will come back eventually? We bought a house in Midwest right before the crash, it has been 10 years and still can't even break even . What do you say?[/quote]

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