Comments on: Don’t Lose Money On a House Again!

By: Diane

Diane — Wed, 10 Mar 2010 18:55:13 +0000

This is more or less like those very risky derivatives that caused the whole house of cards to come tumbling down. I wouldn’t touch this with a ten foot pole. It’s nutty to promote this as a good idea for anyone but suckers.

And frankly I don’t care if my house value goes up or down in the short term, as I bought it to live in, not as an investment. It’s not liquid, and I will not be selling it for many many years.

By: andrew Herzberg

andrew Herzberg — Wed, 10 Mar 2010 04:31:52 +0000

The problem with this type of forum is that once the initial writer gets it wrong than everyone follows. This program was designed to help buyer preserve the long term value of their home while offering them a significant cash payment should the market recover. What almost everyone failed to understand is the the consumer is not paying for the program. It is the developer or bank that provided the construction loan that is taking a price reduction in order to offer this innovative product to the buyer. The idea is that we are finally doing something positive and addressing the issues that plauge this market.

Yes………..as one of he founding partners of Sirius I am always available to discuss the pros and cons. Please visit our website at http://www.siriusvpi.com

By: frod ditector

frod ditector — Mon, 08 Mar 2010 18:12:59 +0000

These gentlemen are not the creators of the product. Kenneth Herzberg was introduced to the product when still employed by Carlton Advisory Group. The two brothers stole the idea from a Canadian Entrepeneur who is now taking legal action. The product is a good start to making positive changes although the two gentlemen “The Herzbergs” are in my opinion being very untruthful in their statement they created the product. In fact in July 2008 Kennedth Herzberg boasted to one of his failed funding clients in Costa Rica that the Canadian was the creator. So watch out for the fine print, it appears these two fellas like to rewrite history.

By: Daddy Paul

Daddy Paul — Sun, 07 Mar 2010 16:12:45 +0000

I would not touch this thing with a ten foot pole. We need to accept things may go up or down. Right now home prices are low. If you are thinking about buying you will be rewarded handsomely.

By: Sid in Missouri

Sid in Missouri — Sun, 07 Mar 2010 04:40:13 +0000

Another product for “sophisticated” investors. Aren’t they the ones who thought sub-prime mortgages were a good deal.
In 5 – 10 years, the government will be bailing this company (and the fools who bought their product) with our tax dollars. All hail the United Socialists of America!

By: Financial Samurai

Financial Samurai — Sat, 06 Mar 2010 19:18:29 +0000

Interesting product.

I thought you were going to write about your own house buying experience.

You got me!

By: janette

janette — Sat, 06 Mar 2010 05:47:04 +0000

A bit like an annuity…
worthless to most of us. A scare tactic for a select group who messed up buying last time.

By: gn

gn — Fri, 05 Mar 2010 21:41:14 +0000

This is a little like an OTC derivative — betting with someone else on the value of something in the future (8 years, wow!) As Wayne notes, above, a key piece people always forget to consider with such bets is counter-party risk.
It’s bad enough when you pay upfront for an extended warranty on a TV from some shaky company (you didn’t think Best Buy actually stood behind those warranties, did you?)… All you are out if they fold up shop or refuse to pay is the $50 or $100 you ponied up. It’s a whole different thing when you consider a single company “insuring” (taking bets on) housing values for hundreds of homeowners with values that correlate strongly with each other. They’ll never be able to pay if things go south. Heads they win, tails you lose.

By: Frugal Dad

Frugal Dad — Fri, 05 Mar 2010 19:40:21 +0000

I don’t know sloopy, in this market, I think both terms (weary and wary) could apply!

By: sloopy

sloopy — Fri, 05 Mar 2010 19:32:57 +0000

The word “weary” means tired. It does not mean “wary” or “leery,” despite the apparent temptation of so many people to combine those two words into one.