HGTV

There's a daily show on HGTV called My House is Worth What? People have a realtor assess their property making suggestions and uncovering what they would list their house for. Many of these people are not interested in selling but rather in knowing the equity they have in their houses.

Many of them are seeking this knowledge so they can "tap" the equity for improvements. Some want to make other large purchases. Tonight's show made the homeowners very happy. They can now buy jet skis.

Tapping the equity means a loan. Either a home equity loan or a new mortgage contract completely. Everyone is so happy as if it is all found money but the truth is, it's more debt.

So many are "under water" because they tapped or took out equity from their homes as prices rose. Now as prices are decreasing, these debts are breaking the backs of good hard working people.

Bob and I enjoy watching the houses and seeing the improvements made and the suggested ones made by professionals. We know we need to redo our master bath and our kitchen needs a complete gut job. For now, we'll live with the laminate counter tops and vinyl floors, the cream colored appliances and cheap cabinets, the gilded framed mirror hiding the medicine cabinet and the stove vent fan that doesn't work.

'til later