Was anyone else blown away by the woman (who talked about foreclosing because they were underwater in their mortgage) responded to the commentators question about being in a contract and honoring that contract with, "Yea but only if the home is going up in value."
Un-freaking-believable.
Edit. Here is the actually conversation:
Matt: The value of the house keeps going down and the payments keep going up. Where's the logic in that?
Stephanie: Why make a $3200 a month payment on a 1200 square foot home? It makes no sense.
Steve Kroft: But that's what you agreed to do when you bought the house.
Stephanie: Fine if the value was going up. The value is going down.
Steve Kroft: You are saying essentially you are going to stop making payments.
Stephanie: The only advice we've gotten so far is to walk away.
What I find interesting is how some people can make those $3200+/month payments. That's a lot of money. I doubt those folk make that much to support this. Seriously, how do people come up with this.
I can't believe some of the stuff I get in the mail. I get spammed alot with new car flyers. Some of the outrageous "deals" I get are things like "lease a BMW 750il for the incredible lease of $800/month"…. $800/month to LEASE A CAR? That's just nuts.
