My plan was to only stay in the house for the 2 years until my daughter had graduated, and then I was going to sell it and move. My plan didn’t include having the market price dip below what I had paid. Now that that has happened, I’m not able to continue on with my plan.
And, vagabondo, I do agree with you. It would feel, to me, like stealing if I were to stop making the payments completely. I did enter into an agreement with the lender and I should continue to meet that agreement.
“I am in a house that I’ve owned for 3 years now.”
No, you’ve RENTED the house for 3 years at about double the market rental rate once taxes and insurance are included. No money down, no principal payments, no problem.
“I am in a house that I’ve owned for 3 years now.”
No, you’ve RENTED the house for 3 years at about double the market rental rate once taxes and insurance are included. No money down, no principal payments, no problem.
“I am in a house that I’ve owned for 3 years now.”
No, you’ve RENTED the house for 3 years at about double the market rental rate once taxes and insurance are included. No money down, no principal payments, no problem.
“I am in a house that I’ve owned for 3 years now.”
No, you’ve RENTED the house for 3 years at about double the market rental rate once taxes and insurance are included. No money down, no principal payments, no problem.
“I am in a house that I’ve owned for 3 years now.”
No, you’ve RENTED the house for 3 years at about double the market rental rate once taxes and insurance are included. No money down, no principal payments, no problem.
If I were you I wouldn’t feel bad about walking away. The mortgage contract essentially said:
– If you make timely payment, you get to keep the house.
– If you don’t, the lender get to foreclose.
When you tell the lender: “go ahead, take the house”, you have done nothing wrong. The lender knew the risks when they lended you the money.
In my opinion, in the next few years we will see a tremendous amount of foreclosures. Since foreclosures will be so common, the stigma will be lessened/eliminated.
It’s like divorce. It used to be a big deal in the 80s (in term of the stigma).
If I were you I wouldn’t feel bad about walking away. The mortgage contract essentially said:
– If you make timely payment, you get to keep the house.
– If you don’t, the lender get to foreclose.
When you tell the lender: “go ahead, take the house”, you have done nothing wrong. The lender knew the risks when they lended you the money.
In my opinion, in the next few years we will see a tremendous amount of foreclosures. Since foreclosures will be so common, the stigma will be lessened/eliminated.
It’s like divorce. It used to be a big deal in the 80s (in term of the stigma).
If I were you I wouldn’t feel bad about walking away. The mortgage contract essentially said:
– If you make timely payment, you get to keep the house.
– If you don’t, the lender get to foreclose.
When you tell the lender: “go ahead, take the house”, you have done nothing wrong. The lender knew the risks when they lended you the money.
In my opinion, in the next few years we will see a tremendous amount of foreclosures. Since foreclosures will be so common, the stigma will be lessened/eliminated.
It’s like divorce. It used to be a big deal in the 80s (in term of the stigma).
If I were you I wouldn’t feel bad about walking away. The mortgage contract essentially said:
– If you make timely payment, you get to keep the house.
– If you don’t, the lender get to foreclose.
When you tell the lender: “go ahead, take the house”, you have done nothing wrong. The lender knew the risks when they lended you the money.
In my opinion, in the next few years we will see a tremendous amount of foreclosures. Since foreclosures will be so common, the stigma will be lessened/eliminated.
It’s like divorce. It used to be a big deal in the 80s (in term of the stigma).
