NCTimes Article – Murrietta family loses home

[admin]

A real tragedy….I’m beginning to think that we should bail these guys out. I’ll go so far as being willing to take a one-time personal tax hike of a few % to fund a rescue of millions of folks like this. They are true victims of a corrupt, evil system. Why can’t a family just have a decent place to live???!!! WHY???!!!

Article in NCTimes today

“HOUSING: Caught in the crash, Murrieta family nears losing it all. Caught in the crash, Murrieta family nears losing it all

By ERIC WOLFF – [email protected] | Posted: Friday, January 1, 2010 6:35 pm

The Daniels family is living the flip side of their dream.

In early 2008, Steve and Lisa Daniels, along with their six children, were afloat in the housing market bubble. An adjustable-rate mortgage allowed them to springboard from a Corona condominium to a $630,000 home on Sherry Lane in Murrieta, where they lived while construction finished on their $1.5 million, custom-built house in the nearby community of La Cresta.

When they moved to La Cresta in November 2008, Steve had a thriving small business, and everything seemed to be going great”..

rest on Nctimes website

http://www.nctimes.com/business/article_e69886cd-cc3e-5f38-a2ae-e0835b63fc4d.html

[NeetaT]

I don’t feel sorry for this couple. Well, I do feel sorry for the six-too-many kids who have to deal with financially irresponsible parents. You can go only so far in blaming bad luck. Over indulgence has a far-reaching effect.

[NeetaT]

I don’t feel sorry for this couple. Well, I do feel sorry for the six-too-many kids who have to deal with financially irresponsible parents. You can go only so far in blaming bad luck. Over indulgence has a far-reaching effect.

[NeetaT]

I don’t feel sorry for this couple. Well, I do feel sorry for the six-too-many kids who have to deal with financially irresponsible parents. You can go only so far in blaming bad luck. Over indulgence has a far-reaching effect.

[NeetaT]

I don’t feel sorry for this couple. Well, I do feel sorry for the six-too-many kids who have to deal with financially irresponsible parents. You can go only so far in blaming bad luck. Over indulgence has a far-reaching effect.

[NeetaT]

I don’t feel sorry for this couple. Well, I do feel sorry for the six-too-many kids who have to deal with financially irresponsible parents. You can go only so far in blaming bad luck. Over indulgence has a far-reaching effect.

[sdrealtor]

How does someone whose peak earnings were only $15,000/month think they could every repay at $1.5M loan?

[sdrealtor]

How does someone whose peak earnings were only $15,000/month think they could every repay at $1.5M loan?

[sdrealtor]

How does someone whose peak earnings were only $15,000/month think they could every repay at $1.5M loan?

[sdrealtor]

How does someone whose peak earnings were only $15,000/month think they could every repay at $1.5M loan?

[sdrealtor]

How does someone whose peak earnings were only $15,000/month think they could every repay at $1.5M loan?

[Allan from Fallbrook]

NewtoSanDiego: I think you left your /snark or /sarcasm tag off. By “decent”, you of course mean a 6,000sf custom built home on 6ac of land, right?

By my calculations, they were tied up in over $2MM worth of mortgage obligations and on $180K of income per year. This guy was ostensibly a white collar professional (insurance) and apparently failed to do even basic arithmetic.

I’m sorry, but this mess is entirely of his (and his wife’s) making. Even at his diminished salary of $60K per year, he should still be able to afford a nice, solidly middle class existence in Murrieta, but that clearly wasn’t good enough for someone wanting his own “ranch”.

[Allan from Fallbrook]

NewtoSanDiego: I think you left your /snark or /sarcasm tag off. By “decent”, you of course mean a 6,000sf custom built home on 6ac of land, right?

By my calculations, they were tied up in over $2MM worth of mortgage obligations and on $180K of income per year. This guy was ostensibly a white collar professional (insurance) and apparently failed to do even basic arithmetic.

I’m sorry, but this mess is entirely of his (and his wife’s) making. Even at his diminished salary of $60K per year, he should still be able to afford a nice, solidly middle class existence in Murrieta, but that clearly wasn’t good enough for someone wanting his own “ranch”.

[Allan from Fallbrook]

NewtoSanDiego: I think you left your /snark or /sarcasm tag off. By “decent”, you of course mean a 6,000sf custom built home on 6ac of land, right?

By my calculations, they were tied up in over $2MM worth of mortgage obligations and on $180K of income per year. This guy was ostensibly a white collar professional (insurance) and apparently failed to do even basic arithmetic.

I’m sorry, but this mess is entirely of his (and his wife’s) making. Even at his diminished salary of $60K per year, he should still be able to afford a nice, solidly middle class existence in Murrieta, but that clearly wasn’t good enough for someone wanting his own “ranch”.

[Allan from Fallbrook]

NewtoSanDiego: I think you left your /snark or /sarcasm tag off. By “decent”, you of course mean a 6,000sf custom built home on 6ac of land, right?

By my calculations, they were tied up in over $2MM worth of mortgage obligations and on $180K of income per year. This guy was ostensibly a white collar professional (insurance) and apparently failed to do even basic arithmetic.

I’m sorry, but this mess is entirely of his (and his wife’s) making. Even at his diminished salary of $60K per year, he should still be able to afford a nice, solidly middle class existence in Murrieta, but that clearly wasn’t good enough for someone wanting his own “ranch”.

[Author]

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