1) Can’t rent out that investment property to cover your costs
2) Can’t sell because the homebuilder is offering your exact same model for 30% less (see Sacramento)
3) Can’t afford carrying costs
4) Fall behind on mortgage for 2nd or 3rd property…perhaps lose the house
5) Screw up your credit so no more REFIs, no more purchases for a LONG time
6) Your I/O negative amortizing loan resets and you start to lose your PRIMARY residence
7) Your Hummer H2 breaks down and you can’t afford to fix it.
8) You learn that there is no such thing as a secondary market for a USED Hummer H2 so you can’t sell it.
9) Gas goes up 1-penny per gallon and pushes you completely over the cliff as you couldn’t afford any of this S*%t to begin with…
10) Finally, they come and take that McMansion off your hands (they=the bank w/his buddy the sheriff)
11) From here on out the only thing you (the former investor) will be “camping out” for is government cheese.
Since I feel somewhat sorry for your gullibility…feel free to “dive my dumpster”…trash day is Wednesday.
