“Dear Homeowner, we lowered your payment” letter

[Coronita]

[quote=dd123][quote=23109VC]i believe this. while there could be a catch, such as making the debt recourse, or some other catch – prepayment penalties? whatever it is – the banks are screwed.

i bought my temecula house for $350k thinking it was such a smoking deal. 1900 sq ft. it is a very nice house and I like it, but the house next to me just went into foreclosure/bank owned and the bank is asking $299k and THAT house is 2500sq ft. so more space, far less money. who knows what it will ultimately sell for.. 250-275k?

making my house worth what?? $200k?

why in the hell woudl the bank want to foreclose on me when they KNOW that they have a $350k loan and they can only get maybe $200k PLUS COSTS to foreclose….

if lowering the payments by $1000/month or whatever keeps people in the home – they will do it b/c the alternative is even worse.

i’m one of those people who CAN afford to stay, does pay on time, am responsible, bought a house within my means… and it pisses me off to see idiots who bought a hosue they had no busines buying, aon an ARM, now cry foul and get their loan % rate, principle all whacked to nothing… b/c they were stupid.

that is such BS. so you know what, why not do it too? i am really thinking of not apying my mortgage. what will happen. the bank is’nt going to foreclose on me. they would lose over $150k. they will threaten me, try to scaer me into paying, but ultimately, if i say “f**K you” and I become a jerk who manipulates the system – guess what, they will renegotiate with me, reduce my int rate, reduce my balnce, they will do something to keep me in the house.

it’s a system that drives good responsible people to do things they normally wouldn’t do. but if the “system” is goign to reward losers – then why be a good guy and get royally screwed?

[/quote]

Someone has aptly said so “If you owe bank 10K, it’s your problem but if you owe your back 100K, its the bank problem”
It looks like this saying is becoming reality..
[/quote]

I said something like this, but for me it was if you owe $100k, it’s your problem, if you owe something like $10million, it’s the bank problem. But i guess if you multiple the number of people that owe $100k, then it really becomes the bank problem.

[HarryBosch]

[quote=PadreBrian]Not sure where you can rent a bigger better house in the same area for 2k. Check craigslist.[/quote]

23109, you can indeed rent a “…bigger better house in the same area for 2k.”

I rent a 3000+ sq.ft. house, 5+BR, 3.5+BA, 3 car garage, in Redhawk area for $2000/month. Also have a pool and spa. But I do my own lawn service and pool service. Not a bad deal.

[HarryBosch]

[quote=PadreBrian]Not sure where you can rent a bigger better house in the same area for 2k. Check craigslist.[/quote]

23109, you can indeed rent a “…bigger better house in the same area for 2k.”

I rent a 3000+ sq.ft. house, 5+BR, 3.5+BA, 3 car garage, in Redhawk area for $2000/month. Also have a pool and spa. But I do my own lawn service and pool service. Not a bad deal.

[HarryBosch]

[quote=PadreBrian]Not sure where you can rent a bigger better house in the same area for 2k. Check craigslist.[/quote]

23109, you can indeed rent a “…bigger better house in the same area for 2k.”

I rent a 3000+ sq.ft. house, 5+BR, 3.5+BA, 3 car garage, in Redhawk area for $2000/month. Also have a pool and spa. But I do my own lawn service and pool service. Not a bad deal.

[HarryBosch]

[quote=PadreBrian]Not sure where you can rent a bigger better house in the same area for 2k. Check craigslist.[/quote]

23109, you can indeed rent a “…bigger better house in the same area for 2k.”

I rent a 3000+ sq.ft. house, 5+BR, 3.5+BA, 3 car garage, in Redhawk area for $2000/month. Also have a pool and spa. But I do my own lawn service and pool service. Not a bad deal.

[HarryBosch]

[quote=PadreBrian]Not sure where you can rent a bigger better house in the same area for 2k. Check craigslist.[/quote]

23109, you can indeed rent a “…bigger better house in the same area for 2k.”

I rent a 3000+ sq.ft. house, 5+BR, 3.5+BA, 3 car garage, in Redhawk area for $2000/month. Also have a pool and spa. But I do my own lawn service and pool service. Not a bad deal.

[ibjames]

[quote=HarryBosch][quote=PadreBrian]Not sure where you can rent a bigger better house in the same area for 2k. Check craigslist.[/quote]

23109, you can indeed rent a “…bigger better house in the same area for 2k.”

I rent a 3000+ sq.ft. house, 5+BR, 3.5+BA, 3 car garage, in Redhawk area for $2000/month. Also have a pool and spa. But I do my own lawn service and pool service. Not a bad deal.
[/quote]
I never understood houses that big. Cleaning it must be such a chore

[ibjames]

[quote=HarryBosch][quote=PadreBrian]Not sure where you can rent a bigger better house in the same area for 2k. Check craigslist.[/quote]

23109, you can indeed rent a “…bigger better house in the same area for 2k.”

I rent a 3000+ sq.ft. house, 5+BR, 3.5+BA, 3 car garage, in Redhawk area for $2000/month. Also have a pool and spa. But I do my own lawn service and pool service. Not a bad deal.
[/quote]
I never understood houses that big. Cleaning it must be such a chore

[ibjames]

[quote=HarryBosch][quote=PadreBrian]Not sure where you can rent a bigger better house in the same area for 2k. Check craigslist.[/quote]

23109, you can indeed rent a “…bigger better house in the same area for 2k.”

I rent a 3000+ sq.ft. house, 5+BR, 3.5+BA, 3 car garage, in Redhawk area for $2000/month. Also have a pool and spa. But I do my own lawn service and pool service. Not a bad deal.
[/quote]
I never understood houses that big. Cleaning it must be such a chore

[ibjames]

[quote=HarryBosch][quote=PadreBrian]Not sure where you can rent a bigger better house in the same area for 2k. Check craigslist.[/quote]

23109, you can indeed rent a “…bigger better house in the same area for 2k.”

I rent a 3000+ sq.ft. house, 5+BR, 3.5+BA, 3 car garage, in Redhawk area for $2000/month. Also have a pool and spa. But I do my own lawn service and pool service. Not a bad deal.
[/quote]
I never understood houses that big. Cleaning it must be such a chore

[ibjames]

[quote=HarryBosch][quote=PadreBrian]Not sure where you can rent a bigger better house in the same area for 2k. Check craigslist.[/quote]

23109, you can indeed rent a “…bigger better house in the same area for 2k.”

I rent a 3000+ sq.ft. house, 5+BR, 3.5+BA, 3 car garage, in Redhawk area for $2000/month. Also have a pool and spa. But I do my own lawn service and pool service. Not a bad deal.
[/quote]
I never understood houses that big. Cleaning it must be such a chore

[PadreBrian]

Okay, so he has to move to Temecula. 🙂

[quote=HarryBosch][quote=PadreBrian]Not sure where you can rent a bigger better house in the same area for 2k. Check craigslist.[/quote]

23109, you can indeed rent a “…bigger better house in the same area for 2k.”

I rent a 3000+ sq.ft. house, 5+BR, 3.5+BA, 3 car garage, in Redhawk area for $2000/month. Also have a pool and spa. But I do my own lawn service and pool service. Not a bad deal.
[/quote]

[PadreBrian]

Okay, so he has to move to Temecula. 🙂

[quote=HarryBosch][quote=PadreBrian]Not sure where you can rent a bigger better house in the same area for 2k. Check craigslist.[/quote]

23109, you can indeed rent a “…bigger better house in the same area for 2k.”

I rent a 3000+ sq.ft. house, 5+BR, 3.5+BA, 3 car garage, in Redhawk area for $2000/month. Also have a pool and spa. But I do my own lawn service and pool service. Not a bad deal.
[/quote]

[PadreBrian]

Okay, so he has to move to Temecula. 🙂

[quote=HarryBosch][quote=PadreBrian]Not sure where you can rent a bigger better house in the same area for 2k. Check craigslist.[/quote]

23109, you can indeed rent a “…bigger better house in the same area for 2k.”

I rent a 3000+ sq.ft. house, 5+BR, 3.5+BA, 3 car garage, in Redhawk area for $2000/month. Also have a pool and spa. But I do my own lawn service and pool service. Not a bad deal.
[/quote]

[PadreBrian]

Okay, so he has to move to Temecula. 🙂

[quote=HarryBosch][quote=PadreBrian]Not sure where you can rent a bigger better house in the same area for 2k. Check craigslist.[/quote]

23109, you can indeed rent a “…bigger better house in the same area for 2k.”

I rent a 3000+ sq.ft. house, 5+BR, 3.5+BA, 3 car garage, in Redhawk area for $2000/month. Also have a pool and spa. But I do my own lawn service and pool service. Not a bad deal.
[/quote]

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