sdrealtor, I rent in Harveston in Temecula, after checking the tax records for my surrounding neighbors, I saw that nearly all of them have refi-ed or owe more than 90% on their homes.
This was a few months ago, I suspect that many are now underwater. The guy across the street says its a matter of time before he hands the bank the keys to his home that he ows over $780k on. My street is lined with new cars, trucks, suvs, fancy entry ways, pools, etc. I was very surprised to find out that I have more equity than the so called “rich” people around me.
