[quote=sdrealtor]. . . Did I ever say he didnt live there? I said he had a tenant (i.e. roomate) so his net cost to live there was $1000 out of pocket.[/quote]
Yes.[quote]…He has a tenant and his PITI net of the rent he recieves is about $1000…[/quote]
[quote=sdrealtor]None of his equity was removed, his ex’s was and it was long before the bubble peaked or burst.[/quote]
Again, shoulda, woulda coulda sold at the peak … everyone has the same problem …
[quote=sdrealtor]I never said he had kids, he doesnt. And he’s not upper middle class for that matter. He’s also orphaned and the only family he has to hold onto the house for is his dog.[/quote]
Guess that’s a good enough reason … for HIM but not for me, tho :={ (inside joke)
[quote=sdrealtor]The mod kept him in his house and that is where he will stay as long as he wants. It was good deal for the lender and a good deal for him.
You were wrong. Please admit it so we can move on. Just say the words. Its not hard. I..WAS…WRONG!!![/quote]
sdr, in the same paragraph you used to describe your friend’s situation, you stated the following:
[quote]FWIW many of the divorcing couples I know have one spouse hold onto the house particularly when there are school age children. Thats usually what divorcing couples in upper middle class communities do in CA.[/quote]
sdr, YOU put your friend’s “story” out there (in dribs and drabs – only after I asked for more detail), ostensibly to demonstrate how great of a mod/cramdown deal he got, correct? Why did you feel a need to brag about his deal here if you didn’t expect Piggs to “dissect it?”
My last question to you, of course, would be, is “How does your friend’s credit score look today?” Of course, if you don’t wish to answer that, I’ll just use my imagination ;=]
As you might surmise, I don’t have an innate need to “sugarcoat” everything so it’s more “palatable.” I can usually be depended on to call a spade a spade when I see or hear of one.
