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Liberal_in_LA (1000+ posts) Send PM | Profile | Ignore | Mon Dec-20-10 08:14 PM Original message |
More see walking on mortgage as a viable plan |
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Arctic Dave (1000+ posts) Send PM | Profile | Ignore | Mon Dec-20-10 08:20 PM Response to Original message |
1. Smart decision on her part. |
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jtuck004 (1000+ posts) Send PM | Profile | Ignore | Tue Dec-21-10 12:39 AM Response to Reply #1 |
40. Absolutely. AIG, Goldman Sachs, all the investment banks had |
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KT2000 (1000+ posts) Send PM | Profile | Ignore | Mon Dec-20-10 08:27 PM Response to Original message |
2. not sure about this |
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Kennah (1000+ posts) Send PM | Profile | Ignore | Mon Dec-20-10 08:35 PM Response to Reply #2 |
6. Suppose they get laid off and can't find work where they're paid enough to even make the payment? |
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leftofcool (1000+ posts) Send PM | Profile | Ignore | Mon Dec-20-10 08:41 PM Response to Reply #6 |
9. How do they afford a place to rent then? |
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Kennah (1000+ posts) Send PM | Profile | Ignore | Mon Dec-20-10 08:49 PM Response to Reply #9 |
16. Maybe they don't |
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KT2000 (1000+ posts) Send PM | Profile | Ignore | Mon Dec-20-10 08:52 PM Response to Reply #6 |
18. that is a different scenario |
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SoCalDem (1000+ posts) Send PM | Profile | Ignore | Mon Dec-20-10 08:58 PM Response to Reply #18 |
19. They probably could not get enough rent to cover the payments |
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eridani (1000+ posts) Send PM | Profile | Ignore | Mon Dec-20-10 09:53 PM Response to Reply #19 |
24. Indeed. Re-reading Unca Karl on use-value vs exchange value would be helpful |
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sendero (1000+ posts) Send PM | Profile | Ignore | Mon Dec-20-10 09:31 PM Response to Reply #2 |
22. The market's not going to change.. |
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eridani (1000+ posts) Send PM | Profile | Ignore | Mon Dec-20-10 09:52 PM Response to Reply #2 |
23. If you can afford the mortgage, hanging on until better times makes sense |
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Mojorabbit (1000+ posts) Send PM | Profile | Ignore | Tue Dec-21-10 02:27 AM Response to Reply #2 |
41. I get what you are saying |
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pnwmom (1000+ posts) Send PM | Profile | Ignore | Mon Dec-20-10 08:30 PM Response to Original message |
3. I wonder how many of the underwater mortgages are |
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Liberal_in_LA (1000+ posts) Send PM | Profile | Ignore | Mon Dec-20-10 08:34 PM Response to Reply #3 |
4. Watch that show 'real estate intervention' sometimes. everyone of them: |
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SoCalDem (1000+ posts) Send PM | Profile | Ignore | Mon Dec-20-10 08:39 PM Response to Reply #4 |
7. Exactly.. they used the house as an ATM, extracting their vapor-equity |
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Liberal_in_LA (1000+ posts) Send PM | Profile | Ignore | Mon Dec-20-10 08:42 PM Response to Reply #7 |
11. yep. And there were 101% loans in 2005-2006. Giving bigger mortgages |
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SoCalDem (1000+ posts) Send PM | Profile | Ignore | Mon Dec-20-10 08:44 PM Response to Reply #11 |
13. around here they had 125% re fi loans |
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Liberal_in_LA (1000+ posts) Send PM | Profile | Ignore | Mon Dec-20-10 08:51 PM Response to Reply #13 |
17. because home values can only go up. of course. |
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SoCalDem (1000+ posts) Send PM | Profile | Ignore | Mon Dec-20-10 08:41 PM Response to Reply #3 |
10. These re-fis were advertised to do just that.. turn non-deductible |
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jmowreader (1000+ posts) Send PM | Profile | Ignore | Tue Dec-21-10 12:13 AM Response to Reply #10 |
36. How Reagan Fucked America, Exhibit 99,843 |
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girl gone mad (1000+ posts) Send PM | Profile | Ignore | Mon Dec-20-10 11:08 PM Response to Reply #3 |
31. Refis are recourse loans. |
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knitter4democracy (1000+ posts) Send PM | Profile | Ignore | Mon Dec-20-10 11:26 PM Response to Reply #3 |
33. Mine's an original mortgage. I'm hoping to be able to keep paying. |
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pnwmom (1000+ posts) Send PM | Profile | Ignore | Mon Dec-20-10 11:48 PM Response to Reply #33 |
34. You're in a tough position - good luck. |
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SoCalDem (1000+ posts) Send PM | Profile | Ignore | Mon Dec-20-10 08:34 PM Response to Original message |
5. "...3,000-square-foot home she owned..." |
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leftofcool (1000+ posts) Send PM | Profile | Ignore | Mon Dec-20-10 08:41 PM Response to Reply #5 |
8. On the other hand, good luck finding a place to rent |
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SoCalDem (1000+ posts) Send PM | Profile | Ignore | Mon Dec-20-10 08:43 PM Response to Reply #8 |
12. or have a family member with good credit do it for you.. |
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Liberal_in_LA (1000+ posts) Send PM | Profile | Ignore | Mon Dec-20-10 08:45 PM Response to Reply #12 |
14. Maybe she'll have a good ref from current landlord to get her the next place |
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leftofcool (1000+ posts) Send PM | Profile | Ignore | Mon Dec-20-10 08:45 PM Response to Reply #12 |
15. Tricky indeed! |
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sendero (1000+ posts) Send PM | Profile | Ignore | Mon Dec-20-10 10:01 PM Response to Reply #5 |
26. True.. |
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aikoaiko (1000+ posts) Send PM | Profile | Ignore | Mon Dec-20-10 08:59 PM Response to Original message |
20. Its perfectly OK for people to make their best economic decisions within the bounds of the law. |
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Arctic Dave (1000+ posts) Send PM | Profile | Ignore | Mon Dec-20-10 09:27 PM Response to Reply #20 |
21. +1 |
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NashVegas (1000+ posts) Send PM | Profile | Ignore | Mon Dec-20-10 10:00 PM Response to Original message |
25. I Only Wish I Could Criticize Her |
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girl gone mad (1000+ posts) Send PM | Profile | Ignore | Mon Dec-20-10 11:17 PM Response to Reply #25 |
32. She's a decent human being. |
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KansasVoter (1000+ posts) Send PM | Profile | Ignore | Mon Dec-20-10 10:02 PM Response to Original message |
27. Don't people still owe what if left after the bank sells the house? |
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TheOther95Percent (202 posts) Send PM | Profile | Ignore | Mon Dec-20-10 11:02 PM Response to Reply #27 |
29. It depends |
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KansasVoter (1000+ posts) Send PM | Profile | Ignore | Mon Dec-20-10 11:06 PM Response to Reply #29 |
30. Thanks for the info and link!!! |
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unkachuck (1000+ posts) Send PM | Profile | Ignore | Mon Dec-20-10 10:12 PM Response to Original message |
28. oh my.... |
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tridim (1000+ posts) Send PM | Profile | Ignore | Tue Dec-21-10 12:05 AM Response to Original message |
35. I chose the "empty the saving account and get foreclosed" option |
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Liberal_in_LA (1000+ posts) Send PM | Profile | Ignore | Tue Dec-21-10 12:18 AM Response to Reply #35 |
37. Wasn't a mistake if you thought you were making the best decision at the time |
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tridim (1000+ posts) Send PM | Profile | Ignore | Tue Dec-21-10 12:26 AM Response to Reply #37 |
39. True, damn hindsight.. |
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Dappleganger (1000+ posts) Send PM | Profile | Ignore | Tue Dec-21-10 12:19 AM Response to Original message |
38. No house (or man) is worth ruining your life over. |
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DU AdBot (1000+ posts) | Mon Sep 16th 2024, 02:04 PM Response to Original message |
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