By Larry Chiang
An urban myth is where people pass on incorrect information. Homeownership and real estate is a big reason why people care about their FICO credit score.
For example
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Kegel Queen (@Fatt_Stacks) |
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Talk all that home owning sh*t until you have a hard year and miss them property taxes.
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A suburban myth is information that’s very useful but very cryptic. Sometimes this useful information comes in the form of an acronym, “P.I.T.I.”
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DirtyBirds Boo (@SenoraNalgona) |
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@Fatt_Stacks @das_got_it P.I.T.I.
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Larry Chiang (@LarryChiang) |
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@SenoraNalgona @Fatt_Stacks @das_got_it Dirty Birdie’s talking about Principal, Interest, Taxes, Insurance. I call it Computer Science protocol 183 P.I.T.I. #cs183PITI #DeltaGamma! pic.twitter.com/aFZ9ClrY5M
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#cs183PITI is the college grad effort to live rent free by having a 3 bedroom house and renting out two bedrooms. Money received in the form of rental income exceeds your Principal + Interest + Taxes+ Insurance. #cs183PITI
Notes: Your home cannot be foreclosed upon when you are semi-slow to pay property taxes. There is a lien against your house that needs to be paid before you settle
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