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Beware Taking On Debt

December 24, 2012 by  

Dear Bob,

I am at a financial CROSSROAD and am going “nuts” trying to figure out what the best way to go may be. 

I have a second mortgage on my home of approx. $44,000 and (at the same time) I have a total of about $43,000 (spread across 3 different investments: Merrill Edge, Charles Schwab, and an IRA at Chase Morgan).    Do I cash everything in and pay the second mortgage, …… or just leave everything where it is?

Another idea I had was to purchase any type of 2-bdrm sound structure with a little bit of land (no matter how little)… “down South”… maybe in North Carolina or Tennessee.  The prices down there seem to be EXTREMELY low these days.   Why?  In case the country SPLITS, I see the South becoming its own country… again!   And… it looks like most of the conservatives may just be in the South.  I don’t like the heat down there, but I definitely do not want to end being surrounded by communist liberals….no matter how mild the weather may be.

I REALLY hope I won’t get “….sorry, but I cannot give you financial advise”… back.  I’m just an old woman, by myself  trying desperately to get somewhat ready for the upcoming disaster (financial, social, and every other way one can think of).    One would have to be blind not to see (and feel) that something terrible is coming.

I TRULY hope you can give me some direction on this.   The above  is ALL I have in the world and don’t want to do the wrong thing, especially “now”. 


Mrs. S. Winberry

Dear Mrs. Winberry,

I am sorry but the lawyers will not allow me to give individual financial advice. I will say this: You should be leery of taking on more debt.

Best wishes,


Bob Livingston

is an ultra-conservative American and author of The Bob Livingston Letter™, founded in 1969. Bob has devoted much of his life to research and the quest for truth on a variety of subjects. Bob specializes in health issues such as nutritional supplements and alternatives to drugs, as well as issues of privacy (both personal and financial), asset protection and the preservation of freedom.

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  • Buster the Anatolian

    This is just my personal opinion. I think if you dislike the people you are surrounded by now enough to consider taking on even more debt you should sell out and move South as you say and put up with the heat.

  • anon

    Tennessee and North Carolina are Not South enough…
    A more Southern state that doesn’t have as many “persons whom you dislike” of the Very Socialist persuasion for you to consider is ALABAMA or even better Texas as they are the only state that has the right to Successio…
    I vote for Alabama since I live there….

  • gene

    That is exactly what is wrong with this country. Screw the lawyers give this nice person some good advice!

    • s. white

      Right! You can always give general advise for people with debt, older single women, etc.

  • Paul

    Question, Would you borrow money on your house to invest? If you answer no then perhaps you should sell your investments and pay off your second mortgage. Just a thought the choice is always yours. As for moving to a less expensive location, I believe you should live in a place you love to live in. Also remember the further from town you live the cheaper the housing cost will be. you might also want to see To your happiness!

  • Cheaptrick

    Believe it or not, Mrs. Winberry, there are still some people that care about their fellow Americans. One such group can be contacted at:

    They are conservatives that offer a solution for the coming dilemma, for people such as yourself.

  • Mikey

    Dear Mrs. Winberry,
    In my opinion, you should sell your assets and move south. From my most recent research, Texas would be your best bet. The economy is strong there, and Texas has it’s own ports and electrical grid. This gives them the best chance of survival if they secede. And, Texas is the only state to my knowledge that has retained the right to secede.

  • identitee

    Mrs. Winberry,

    If I were in your position, I would definitely be looking at cheap land in a red state. I wouldn’t worry too much about about my mortgages as long as I currently had enough cash flow to keep both mortgages current. (If you don’t, consider paying one off.) If the brown stuff hits the fan, you can always abandon the property with the mortgages: whether you have one mortgage or two won’t matter in that situation.

    On the other hand, it’s always good to have some assets in a more liquid form than real estate. I would either (a) keep the investments and the second mortgage; or (b) sell the assets to buy land in the South, which will be tangibly useful to you if there’s a crisis, and keep the second mortgage.

    Just my two cents.


    I am doing everything that I can to flee NC. High taxes, corruption, unemployment. If you have morals and honesty, do not come here.

  • jj

    Mr Livingston…you are very disappointing with your response to this innocent woman who has been shafted by the very system she supported for entire life…and all you can be concerned about is the F–in Attorneys who are responsible for the mess this country is in at present…shame on you!!! Ever heard of disclaimer?…or are all the Attorneys ignorant about any ways to mitigate your possible liabilities…Gene had it correct in his post above…
    It is time you grew a pair & stood up for what is right, not what is legally safe…where is your integrity & courage locked up in a safety deposit box at one of the 5 Big banks?

  • TIM

    make sure you invest wisely,if you choose to go that way,however long term(high) inflation will wipe away your investments(after Shock)

  • joe momma

    gee bob….you rant and rave of milque toast republicans and then answer just like one…..your answer points to the correct direction anywhooo

  • Right Brain Thinker

    If you DO move “south”, why not go all the way to the bottom and go to MS while you’re at it?. If the “south” does in fact “secede”, don’t forget that your Social Security and Medicare (and any other federal benefits you may be receiving since you’re just an old “moocher” like me), will likely STOP. And do remember also, that since the “red” states are net “takers” of federal benefits, that their economies will be hurt by “secession” and less able to provide for you.

    PS Don’t worry too much about being “surrounded by communist liberals” if you stay “north”—-there aren’t as many of them around as certain people would like you to think—-they’re just “boogeymen” invented by the 1% to scare the uninformed and easily misled.

  • deminiowa

    By all means – Take on the additional debt – and all of you move far far far South as fast as you can – you all need to get far away from those Northern Liberals. Ha Ha Ha – better run fast those liberals will getcha! Scarry people they are… Ha Ha Ha!!!!

  • George Conoly

    Mrs. Winberry,
    Maybe you should consult a Property Manger about renting your present home. The Affordable Health Care Act imposes a 3 or 4% penalty on rental income, but you may still clear enough to cover the payments. A PM may charge 10% of rental income, but a good one should take care of most of the problems and paperwork. Then you would have some funds to start a new life in a friendlier place. Let me know if I can help if you consider SC midlands area.

  • Shani

    I would pay off all outstanding debt. If things end up where they seem to be heading money/investments will be worthless. Once your mortgage is paid you can then decide if you want to sell and buy somewhere else and pay in full so you are not paying interest.


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