i forget the street name. it’s the section of Harveston near the large sports park…
if these houses are going down to high 200s… then it will only be a matter of time until they are ALL in this range, or even lower. wow.
almost makes me think about just buying one of these when they hit 250k, and then just WALK from my house. $hit why not!?!
i am starting to see why people who have good jobs, good income, but wind up WAY upside down, and then see a house twice as nice as theirs for $150k LESS than they owe on their house… for sale they buy it and somehow come up with SOME way to get OUT of their existing home, INTO the new one and then hose thelender on the old house.
foreclose on me.. go ahead. if you get into the PERFECT house and the paymetns are even LESS than the old payments… let your credit take the hit, live there for 10 years..
i like my house and have no problem staying there a while. the only thing that would get me thinking to dump it and move to somethig else would be if I could get into a MUCH MUCH nicer house for LESS money. there may come a point where values have dropped so much, and a person can be so upside down that they could replace their house, get MORE house, with MUCH LESS payment, LESS taxes, and some financial advisor would actually ADVISE you to walk from your house and let htem foreclose on it..even with the credit score hit…
who knows. if your house was bought for 350k, and suddenly it’s worth 200k… you are 150 negative. have NO equity, and did 100% financing..so you lose NO DOWN payment..
and you then see a bigger better house that is down the street for $250k that is twice as good as your existing house and you could buy it, save $1000/month.. BUT you’d get foreclosed on the old house.. would you do it?
