There was another Stonebrige home that was purchased by a couple in business at the peak. The home was purchased for $1.9 million with 20% down. That’s $380k! When the value in Stonebrige dropped, these guys cut their losses and stopped paying. Afterall, the mortgage on the house was at least $1.5 mil and the house was probably valued at around $1 million. The home was foreclosed but the couple walked out of it a whole lot faster than this guy, they were still buying new Mercedes, and last I heard they purchased a nice place in La Jolla.
That is the difference between the Rich and the Business Savvy vs the Honest Professional.
