The new smart financial move is walking away

[SD Realtor]

No Desmond I think you could not be more incorrect. Actually the folks who haven’t bought are mad as hell because those that did buy are getting away scott free so to speak. Others that did buy are getting mods. Others may even see REDUCTIONS in loan balances. Funny, even some of the most prolific bearish people who post here bought and are in foreclosure. The bottom line is personal responsibility. I am not saying don’t walk away. I am also not saying that the real estate industry, the fed, wall street, the ratings agency, etc did not feed the fire. However HE WHO SIGNED THE LOAN DOCS IS AND WAS RESPONSIBLE. Because if you never signed those docs, you would have never been in trouble. Yet I guess it is always more convenient to blame others. We all were living in the same time and under those same pressures to buy and not all of us did.

[davelj]

[quote=SD Realtor]Funny, even some of the most prolific bearish people who post here bought and are in foreclosure. [/quote]

Well, this sounds juicy. Do share…

[davelj]

[quote=SD Realtor]Funny, even some of the most prolific bearish people who post here bought and are in foreclosure. [/quote]

Well, this sounds juicy. Do share…

[davelj]

[quote=SD Realtor]Funny, even some of the most prolific bearish people who post here bought and are in foreclosure. [/quote]

Well, this sounds juicy. Do share…

[davelj]

[quote=SD Realtor]Funny, even some of the most prolific bearish people who post here bought and are in foreclosure. [/quote]

Well, this sounds juicy. Do share…

[davelj]

[quote=SD Realtor]Funny, even some of the most prolific bearish people who post here bought and are in foreclosure. [/quote]

Well, this sounds juicy. Do share…

[sreeb]

[quote=poorgradstudent]Faced with a choice of walking away and breaking even and facing 7 years of bad credit or 14 years of house payments to get back to zero, I have a hard time faulting people for taking 7 years, unless they LOVE their home.[/quote]

A lot depends on the loan. I continue to believe that todays loans are a bargain never to be repeated in my lifetime. As long as our government spends like there is no tomorrow, there may be no tomorrow for the dollar.

[sreeb]

[quote=poorgradstudent]Faced with a choice of walking away and breaking even and facing 7 years of bad credit or 14 years of house payments to get back to zero, I have a hard time faulting people for taking 7 years, unless they LOVE their home.[/quote]

A lot depends on the loan. I continue to believe that todays loans are a bargain never to be repeated in my lifetime. As long as our government spends like there is no tomorrow, there may be no tomorrow for the dollar.

[sreeb]

[quote=poorgradstudent]Faced with a choice of walking away and breaking even and facing 7 years of bad credit or 14 years of house payments to get back to zero, I have a hard time faulting people for taking 7 years, unless they LOVE their home.[/quote]

A lot depends on the loan. I continue to believe that todays loans are a bargain never to be repeated in my lifetime. As long as our government spends like there is no tomorrow, there may be no tomorrow for the dollar.

[sreeb]

[quote=poorgradstudent]Faced with a choice of walking away and breaking even and facing 7 years of bad credit or 14 years of house payments to get back to zero, I have a hard time faulting people for taking 7 years, unless they LOVE their home.[/quote]

A lot depends on the loan. I continue to believe that todays loans are a bargain never to be repeated in my lifetime. As long as our government spends like there is no tomorrow, there may be no tomorrow for the dollar.

[sreeb]

[quote=poorgradstudent]Faced with a choice of walking away and breaking even and facing 7 years of bad credit or 14 years of house payments to get back to zero, I have a hard time faulting people for taking 7 years, unless they LOVE their home.[/quote]

A lot depends on the loan. I continue to believe that todays loans are a bargain never to be repeated in my lifetime. As long as our government spends like there is no tomorrow, there may be no tomorrow for the dollar.

[CDMA ENG]

[quote=poorgradstudent]
End of the day, it’s a lot easier to walk away from a home you’ve lived in for 3-5 years than 25. I would have loved to see my mom sell her house at the peak of the bubble, but she’s lived there 3 decades and couldn’t clean out her basement in less than a year. Us kids grew up in that house, and there are a lot of memories there. It sounds like the woman in the article retired and bought her new home in 2005, so it’s not like she had a lot of emotional stake there.
[/quote]

Begged my mom to sell her Vegas home knowing full well she was moving in a couple of years. She was emotionally attached as well but will return to AZ after retirement. At peak should could have gotten 330K for it now she would be lucky to get 100K. And that was money she desperately needed for retirement.

Ce la Vie!

CE

[CDMA ENG]

[quote=poorgradstudent]
End of the day, it’s a lot easier to walk away from a home you’ve lived in for 3-5 years than 25. I would have loved to see my mom sell her house at the peak of the bubble, but she’s lived there 3 decades and couldn’t clean out her basement in less than a year. Us kids grew up in that house, and there are a lot of memories there. It sounds like the woman in the article retired and bought her new home in 2005, so it’s not like she had a lot of emotional stake there.
[/quote]

Begged my mom to sell her Vegas home knowing full well she was moving in a couple of years. She was emotionally attached as well but will return to AZ after retirement. At peak should could have gotten 330K for it now she would be lucky to get 100K. And that was money she desperately needed for retirement.

Ce la Vie!

CE

[CDMA ENG]

[quote=poorgradstudent]
End of the day, it’s a lot easier to walk away from a home you’ve lived in for 3-5 years than 25. I would have loved to see my mom sell her house at the peak of the bubble, but she’s lived there 3 decades and couldn’t clean out her basement in less than a year. Us kids grew up in that house, and there are a lot of memories there. It sounds like the woman in the article retired and bought her new home in 2005, so it’s not like she had a lot of emotional stake there.
[/quote]

Begged my mom to sell her Vegas home knowing full well she was moving in a couple of years. She was emotionally attached as well but will return to AZ after retirement. At peak should could have gotten 330K for it now she would be lucky to get 100K. And that was money she desperately needed for retirement.

Ce la Vie!

CE

[CDMA ENG]

[quote=poorgradstudent]
End of the day, it’s a lot easier to walk away from a home you’ve lived in for 3-5 years than 25. I would have loved to see my mom sell her house at the peak of the bubble, but she’s lived there 3 decades and couldn’t clean out her basement in less than a year. Us kids grew up in that house, and there are a lot of memories there. It sounds like the woman in the article retired and bought her new home in 2005, so it’s not like she had a lot of emotional stake there.
[/quote]

Begged my mom to sell her Vegas home knowing full well she was moving in a couple of years. She was emotionally attached as well but will return to AZ after retirement. At peak should could have gotten 330K for it now she would be lucky to get 100K. And that was money she desperately needed for retirement.

Ce la Vie!

CE

[Author]

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