13348 Shadetree Ct

[ocrenter]

[quote=enron_by_the_sea]In 3 years he might have also paid about ~30K of principal assuming ~7% interest rate. (OTOH He might have gone IO route and paid nothing or he might have had a lower interest rate and paid more down towards principal)[/quote]

yup, totally forgot the most important carrying cost. I have to assume 5% interest since his first was full jumbo. Which means $5200/month in principal and interest. That’s roughly $187k.

with the $220k from my prior post, we are looking at $407k loss for the whole affair.

of course, a third of it should be tax deductible. so probably just around $270k in real losses.

[jpinpb]

Yeah, I/O seems more like the type of loan that would be taken on this place as an investor trying to flip, keeping costs as low as possible allowing more time to sell.

ocr – don’t know if you’re still monitoring any places. Probably not. I’ve seen greater losses than this.

Anyway, though, this certainly was a knifecatching lesson exemplar. To me, it’s one thing to see banks lose money (which not really b/c taxpayers are easing the pain) but when someone actually is out of pocket this much. Ouch.

[jpinpb]

Yeah, I/O seems more like the type of loan that would be taken on this place as an investor trying to flip, keeping costs as low as possible allowing more time to sell.

ocr – don’t know if you’re still monitoring any places. Probably not. I’ve seen greater losses than this.

Anyway, though, this certainly was a knifecatching lesson exemplar. To me, it’s one thing to see banks lose money (which not really b/c taxpayers are easing the pain) but when someone actually is out of pocket this much. Ouch.

[jpinpb]

Yeah, I/O seems more like the type of loan that would be taken on this place as an investor trying to flip, keeping costs as low as possible allowing more time to sell.

ocr – don’t know if you’re still monitoring any places. Probably not. I’ve seen greater losses than this.

Anyway, though, this certainly was a knifecatching lesson exemplar. To me, it’s one thing to see banks lose money (which not really b/c taxpayers are easing the pain) but when someone actually is out of pocket this much. Ouch.

[jpinpb]

Yeah, I/O seems more like the type of loan that would be taken on this place as an investor trying to flip, keeping costs as low as possible allowing more time to sell.

ocr – don’t know if you’re still monitoring any places. Probably not. I’ve seen greater losses than this.

Anyway, though, this certainly was a knifecatching lesson exemplar. To me, it’s one thing to see banks lose money (which not really b/c taxpayers are easing the pain) but when someone actually is out of pocket this much. Ouch.

[jpinpb]

Yeah, I/O seems more like the type of loan that would be taken on this place as an investor trying to flip, keeping costs as low as possible allowing more time to sell.

ocr – don’t know if you’re still monitoring any places. Probably not. I’ve seen greater losses than this.

Anyway, though, this certainly was a knifecatching lesson exemplar. To me, it’s one thing to see banks lose money (which not really b/c taxpayers are easing the pain) but when someone actually is out of pocket this much. Ouch.

[Coronita]

Note to self: if I ever buy a new home, I’m going to put it into a LLC based in Wyoming so peeking inquirying piggies don’t post my personal info in this site, heh heh

Dude what is the fascination of what people do for a living? So the $200k loss on the home for the chiro… What’s that, 6 months of salary? 🙂

[Coronita]

Note to self: if I ever buy a new home, I’m going to put it into a LLC based in Wyoming so peeking inquirying piggies don’t post my personal info in this site, heh heh

Dude what is the fascination of what people do for a living? So the $200k loss on the home for the chiro… What’s that, 6 months of salary? 🙂

[Coronita]

Note to self: if I ever buy a new home, I’m going to put it into a LLC based in Wyoming so peeking inquirying piggies don’t post my personal info in this site, heh heh

Dude what is the fascination of what people do for a living? So the $200k loss on the home for the chiro… What’s that, 6 months of salary? 🙂

[Coronita]

Note to self: if I ever buy a new home, I’m going to put it into a LLC based in Wyoming so peeking inquirying piggies don’t post my personal info in this site, heh heh

Dude what is the fascination of what people do for a living? So the $200k loss on the home for the chiro… What’s that, 6 months of salary? 🙂

[Coronita]

Note to self: if I ever buy a new home, I’m going to put it into a LLC based in Wyoming so peeking inquirying piggies don’t post my personal info in this site, heh heh

Dude what is the fascination of what people do for a living? So the $200k loss on the home for the chiro… What’s that, 6 months of salary? 🙂

[jpinpb]

[quote=flu]Dude what is the fascination of what people do for a living? So the $200k loss on the home for the chiro… What’s that, 6 months of salary? :)[/quote]

Attention Piggs: flu now available to work for free for 6 months, not a problem 😉

[jpinpb]

[quote=flu]Dude what is the fascination of what people do for a living? So the $200k loss on the home for the chiro… What’s that, 6 months of salary? :)[/quote]

Attention Piggs: flu now available to work for free for 6 months, not a problem 😉

[jpinpb]

[quote=flu]Dude what is the fascination of what people do for a living? So the $200k loss on the home for the chiro… What’s that, 6 months of salary? :)[/quote]

Attention Piggs: flu now available to work for free for 6 months, not a problem 😉

[jpinpb]

[quote=flu]Dude what is the fascination of what people do for a living? So the $200k loss on the home for the chiro… What’s that, 6 months of salary? :)[/quote]

Attention Piggs: flu now available to work for free for 6 months, not a problem 😉

[Author]

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