Underwater Homeowners Thread

[temeculaguy]

Russell, what looks like optimism is merely observations from my life, your results may vary. I’ve spent probably more than half of my scheduled time on the planet and what I’ve learned makes me understand that balance will find me, I don;t need to seek it. When things look like they are great and will only get better, they won’t, conversely when things look like they can only get worse, they wont. Pendulums swing and they always swing back, if there are too many rabbits, soon there will be coyotes, balance is the most reliable thing in our world. The study of nature and business has amazing similarities. This country has all the needed elements, it just needs to organize them. It is also a healthy thing to go through something like this current crisis every decade or two.

Ca renter-micro markets are different, peaks are different in those markets. My observations in my market put 1991 as a peak, about 1995 as the bottom and 1998 as the end of the flat part, 1999-2003 was the upswing and 2003-2006 or 2007 as the artificial phase. You can plus or minus a year or two for different markets for different reasons. The exhurbs tend to rise later and fall sooner, so you will have to research your own micro market to get your numbers and target prices.

paramount, that place is overpriced but it isn’t a short or a repo, it won’t sell until the competition changes. It’s still nuts up here, I was working on the yard today and a repo had an open house down the street. I could have a few bucks selling parking spaces, I was a little disapointed, I had hoped all the cars meant perhaps a brothel had opened.

Peter, we agree that if your mort is the same as rent, stay put, but also suggest people stay put who can afford it. I would not walk from a place that may not have turned out to be the investment I thought it was as long as I had no difficulty making the payment. I bought a high horse because I like sitting on it, if you can, honor thy debts. If you lose your job or cannot make your payment, that is one thing, but to stop paying when you have the ability to, as a strategy, bad karma.

[zzz]

Wow, I’m shocked at the I’m such a victim thread here by paramount. What goes up must come down. Who told you everything always goes up and never comes down and why did you believe them? There have ALWAYS been crooks and criminals.

If you willingly paid for your home because at the time you thought it was worth it, what makes you the victim? Like others have said, no one held a gun to your head. Now if you didn’t think assets can depreciate than you are naive and this was a good lesson. I’m so sick of people blaming other people for their actions. I don’t blame anyone but myself for the fact that my 401k has lost 40% of its value. I knew the market was softening but I didn’t move out of the funds I held into a money market. I have lots of excuses but really it boils down to the fact that I was lazy and stupid.

Should I go sue my car maker or consider them crooks because now I own a car that is worth less, but at the time I was more than happy to pay for it? Oh wait, people “expect” cars to depreciate, why would you think your home shouldn’t? Should a SUV owner sue the car manufacturer because gas prices shot up last year and devalued SUVs more than typical?

I’m sorry, but people, take ownership for your life. Stop blaming others. If you are caught in this mess, accept it. Others are too, but you “chose” to do what you did. Accept it and look within yourself as to what you have learned. Its your life, the government is here to govern, not make sure your life doesn’t suffer. If you don’t like this country and our government for its flaws (crooks, idiots included), I suggest you move to a communist country or one run by a dictator. Life isn’t fair, grow up.

Paramount, you sound like a typical whiny entitled American and that is not a flattering image to uphold. We all have misfortune, make mistakes, suffer losses. But we don’t all blame others because we make choices that didn’t work out. And like others have said, your choice hasn’t “not” worked out, you still have a roof over your head and house that you enjoy and you haven’t lost anything until you sell. You’re counting your losses before they are realized losses. That would be like people who counted their equity during the runup as wealth, before they sold, withdrew it, spent it, and now blame others because they owe more than their house is worth. Maybe if you lived on the street in cold rain night after night it would make you stop being so whiny.

[zzz]

Wow, I’m shocked at the I’m such a victim thread here by paramount. What goes up must come down. Who told you everything always goes up and never comes down and why did you believe them? There have ALWAYS been crooks and criminals.

If you willingly paid for your home because at the time you thought it was worth it, what makes you the victim? Like others have said, no one held a gun to your head. Now if you didn’t think assets can depreciate than you are naive and this was a good lesson. I’m so sick of people blaming other people for their actions. I don’t blame anyone but myself for the fact that my 401k has lost 40% of its value. I knew the market was softening but I didn’t move out of the funds I held into a money market. I have lots of excuses but really it boils down to the fact that I was lazy and stupid.

Should I go sue my car maker or consider them crooks because now I own a car that is worth less, but at the time I was more than happy to pay for it? Oh wait, people “expect” cars to depreciate, why would you think your home shouldn’t? Should a SUV owner sue the car manufacturer because gas prices shot up last year and devalued SUVs more than typical?

I’m sorry, but people, take ownership for your life. Stop blaming others. If you are caught in this mess, accept it. Others are too, but you “chose” to do what you did. Accept it and look within yourself as to what you have learned. Its your life, the government is here to govern, not make sure your life doesn’t suffer. If you don’t like this country and our government for its flaws (crooks, idiots included), I suggest you move to a communist country or one run by a dictator. Life isn’t fair, grow up.

Paramount, you sound like a typical whiny entitled American and that is not a flattering image to uphold. We all have misfortune, make mistakes, suffer losses. But we don’t all blame others because we make choices that didn’t work out. And like others have said, your choice hasn’t “not” worked out, you still have a roof over your head and house that you enjoy and you haven’t lost anything until you sell. You’re counting your losses before they are realized losses. That would be like people who counted their equity during the runup as wealth, before they sold, withdrew it, spent it, and now blame others because they owe more than their house is worth. Maybe if you lived on the street in cold rain night after night it would make you stop being so whiny.

[zzz]

Wow, I’m shocked at the I’m such a victim thread here by paramount. What goes up must come down. Who told you everything always goes up and never comes down and why did you believe them? There have ALWAYS been crooks and criminals.

If you willingly paid for your home because at the time you thought it was worth it, what makes you the victim? Like others have said, no one held a gun to your head. Now if you didn’t think assets can depreciate than you are naive and this was a good lesson. I’m so sick of people blaming other people for their actions. I don’t blame anyone but myself for the fact that my 401k has lost 40% of its value. I knew the market was softening but I didn’t move out of the funds I held into a money market. I have lots of excuses but really it boils down to the fact that I was lazy and stupid.

Should I go sue my car maker or consider them crooks because now I own a car that is worth less, but at the time I was more than happy to pay for it? Oh wait, people “expect” cars to depreciate, why would you think your home shouldn’t? Should a SUV owner sue the car manufacturer because gas prices shot up last year and devalued SUVs more than typical?

I’m sorry, but people, take ownership for your life. Stop blaming others. If you are caught in this mess, accept it. Others are too, but you “chose” to do what you did. Accept it and look within yourself as to what you have learned. Its your life, the government is here to govern, not make sure your life doesn’t suffer. If you don’t like this country and our government for its flaws (crooks, idiots included), I suggest you move to a communist country or one run by a dictator. Life isn’t fair, grow up.

Paramount, you sound like a typical whiny entitled American and that is not a flattering image to uphold. We all have misfortune, make mistakes, suffer losses. But we don’t all blame others because we make choices that didn’t work out. And like others have said, your choice hasn’t “not” worked out, you still have a roof over your head and house that you enjoy and you haven’t lost anything until you sell. You’re counting your losses before they are realized losses. That would be like people who counted their equity during the runup as wealth, before they sold, withdrew it, spent it, and now blame others because they owe more than their house is worth. Maybe if you lived on the street in cold rain night after night it would make you stop being so whiny.

[zzz]

Wow, I’m shocked at the I’m such a victim thread here by paramount. What goes up must come down. Who told you everything always goes up and never comes down and why did you believe them? There have ALWAYS been crooks and criminals.

If you willingly paid for your home because at the time you thought it was worth it, what makes you the victim? Like others have said, no one held a gun to your head. Now if you didn’t think assets can depreciate than you are naive and this was a good lesson. I’m so sick of people blaming other people for their actions. I don’t blame anyone but myself for the fact that my 401k has lost 40% of its value. I knew the market was softening but I didn’t move out of the funds I held into a money market. I have lots of excuses but really it boils down to the fact that I was lazy and stupid.

Should I go sue my car maker or consider them crooks because now I own a car that is worth less, but at the time I was more than happy to pay for it? Oh wait, people “expect” cars to depreciate, why would you think your home shouldn’t? Should a SUV owner sue the car manufacturer because gas prices shot up last year and devalued SUVs more than typical?

I’m sorry, but people, take ownership for your life. Stop blaming others. If you are caught in this mess, accept it. Others are too, but you “chose” to do what you did. Accept it and look within yourself as to what you have learned. Its your life, the government is here to govern, not make sure your life doesn’t suffer. If you don’t like this country and our government for its flaws (crooks, idiots included), I suggest you move to a communist country or one run by a dictator. Life isn’t fair, grow up.

Paramount, you sound like a typical whiny entitled American and that is not a flattering image to uphold. We all have misfortune, make mistakes, suffer losses. But we don’t all blame others because we make choices that didn’t work out. And like others have said, your choice hasn’t “not” worked out, you still have a roof over your head and house that you enjoy and you haven’t lost anything until you sell. You’re counting your losses before they are realized losses. That would be like people who counted their equity during the runup as wealth, before they sold, withdrew it, spent it, and now blame others because they owe more than their house is worth. Maybe if you lived on the street in cold rain night after night it would make you stop being so whiny.

[zzz]

Wow, I’m shocked at the I’m such a victim thread here by paramount. What goes up must come down. Who told you everything always goes up and never comes down and why did you believe them? There have ALWAYS been crooks and criminals.

If you willingly paid for your home because at the time you thought it was worth it, what makes you the victim? Like others have said, no one held a gun to your head. Now if you didn’t think assets can depreciate than you are naive and this was a good lesson. I’m so sick of people blaming other people for their actions. I don’t blame anyone but myself for the fact that my 401k has lost 40% of its value. I knew the market was softening but I didn’t move out of the funds I held into a money market. I have lots of excuses but really it boils down to the fact that I was lazy and stupid.

Should I go sue my car maker or consider them crooks because now I own a car that is worth less, but at the time I was more than happy to pay for it? Oh wait, people “expect” cars to depreciate, why would you think your home shouldn’t? Should a SUV owner sue the car manufacturer because gas prices shot up last year and devalued SUVs more than typical?

I’m sorry, but people, take ownership for your life. Stop blaming others. If you are caught in this mess, accept it. Others are too, but you “chose” to do what you did. Accept it and look within yourself as to what you have learned. Its your life, the government is here to govern, not make sure your life doesn’t suffer. If you don’t like this country and our government for its flaws (crooks, idiots included), I suggest you move to a communist country or one run by a dictator. Life isn’t fair, grow up.

Paramount, you sound like a typical whiny entitled American and that is not a flattering image to uphold. We all have misfortune, make mistakes, suffer losses. But we don’t all blame others because we make choices that didn’t work out. And like others have said, your choice hasn’t “not” worked out, you still have a roof over your head and house that you enjoy and you haven’t lost anything until you sell. You’re counting your losses before they are realized losses. That would be like people who counted their equity during the runup as wealth, before they sold, withdrew it, spent it, and now blame others because they owe more than their house is worth. Maybe if you lived on the street in cold rain night after night it would make you stop being so whiny.

[paramount]

zzz: I can tell from your naive post that you have basically no clue what your talking about.

Or are/were you a FB for “some” reason?

[paramount]

zzz: I can tell from your naive post that you have basically no clue what your talking about.

Or are/were you a FB for “some” reason?

[paramount]

zzz: I can tell from your naive post that you have basically no clue what your talking about.

Or are/were you a FB for “some” reason?

[paramount]

zzz: I can tell from your naive post that you have basically no clue what your talking about.

Or are/were you a FB for “some” reason?

[paramount]

zzz: I can tell from your naive post that you have basically no clue what your talking about.

Or are/were you a FB for “some” reason?

[TheBreeze]

paramount,

What would you have done in 2006, if a representative from the government had come to you and said, “Look, there’s been a ton of fraud in the housing market. We’re going to unwind all the housing transactions back to 2001. You’ll be made whole, but that 50% equity increase (or whatever it was between your purchase in 2003 and 2006) was basically a product of fraud, so you won’t be getting any of that.”

I bet you would’ve screamed bloody murder! This is what bugs me about you ‘victims’. You’re only claiming victimhood because you ended up upside down. If you had made money due to all the fraud in the market and the government tried to take it from you, you would again characterize yourself as a victim.

It looks to me like you are trying to build some type of ‘moral case’ so that you can walk away with a ‘clear conscience.’ I’m sure at this point that you are going to walk away no matter what anybody on this board says, but if you walk away, you won’t be sticking it to the fraudsters. At this point, the American taxpayer essentially owns your loan and that is who you will be sticking it to. The fraudsters are long gone and many taxpaying citizens like myself who never participated in the housing bubble one way or the other will be forced to pay for a mess that we had no part in.

It sucks that I as a responsible bill-paying person have to have my taxes go to paying for people like you, but that’s life.

[TheBreeze]

paramount,

What would you have done in 2006, if a representative from the government had come to you and said, “Look, there’s been a ton of fraud in the housing market. We’re going to unwind all the housing transactions back to 2001. You’ll be made whole, but that 50% equity increase (or whatever it was between your purchase in 2003 and 2006) was basically a product of fraud, so you won’t be getting any of that.”

I bet you would’ve screamed bloody murder! This is what bugs me about you ‘victims’. You’re only claiming victimhood because you ended up upside down. If you had made money due to all the fraud in the market and the government tried to take it from you, you would again characterize yourself as a victim.

It looks to me like you are trying to build some type of ‘moral case’ so that you can walk away with a ‘clear conscience.’ I’m sure at this point that you are going to walk away no matter what anybody on this board says, but if you walk away, you won’t be sticking it to the fraudsters. At this point, the American taxpayer essentially owns your loan and that is who you will be sticking it to. The fraudsters are long gone and many taxpaying citizens like myself who never participated in the housing bubble one way or the other will be forced to pay for a mess that we had no part in.

It sucks that I as a responsible bill-paying person have to have my taxes go to paying for people like you, but that’s life.

[TheBreeze]

paramount,

What would you have done in 2006, if a representative from the government had come to you and said, “Look, there’s been a ton of fraud in the housing market. We’re going to unwind all the housing transactions back to 2001. You’ll be made whole, but that 50% equity increase (or whatever it was between your purchase in 2003 and 2006) was basically a product of fraud, so you won’t be getting any of that.”

I bet you would’ve screamed bloody murder! This is what bugs me about you ‘victims’. You’re only claiming victimhood because you ended up upside down. If you had made money due to all the fraud in the market and the government tried to take it from you, you would again characterize yourself as a victim.

It looks to me like you are trying to build some type of ‘moral case’ so that you can walk away with a ‘clear conscience.’ I’m sure at this point that you are going to walk away no matter what anybody on this board says, but if you walk away, you won’t be sticking it to the fraudsters. At this point, the American taxpayer essentially owns your loan and that is who you will be sticking it to. The fraudsters are long gone and many taxpaying citizens like myself who never participated in the housing bubble one way or the other will be forced to pay for a mess that we had no part in.

It sucks that I as a responsible bill-paying person have to have my taxes go to paying for people like you, but that’s life.

[TheBreeze]

paramount,

What would you have done in 2006, if a representative from the government had come to you and said, “Look, there’s been a ton of fraud in the housing market. We’re going to unwind all the housing transactions back to 2001. You’ll be made whole, but that 50% equity increase (or whatever it was between your purchase in 2003 and 2006) was basically a product of fraud, so you won’t be getting any of that.”

I bet you would’ve screamed bloody murder! This is what bugs me about you ‘victims’. You’re only claiming victimhood because you ended up upside down. If you had made money due to all the fraud in the market and the government tried to take it from you, you would again characterize yourself as a victim.

It looks to me like you are trying to build some type of ‘moral case’ so that you can walk away with a ‘clear conscience.’ I’m sure at this point that you are going to walk away no matter what anybody on this board says, but if you walk away, you won’t be sticking it to the fraudsters. At this point, the American taxpayer essentially owns your loan and that is who you will be sticking it to. The fraudsters are long gone and many taxpaying citizens like myself who never participated in the housing bubble one way or the other will be forced to pay for a mess that we had no part in.

It sucks that I as a responsible bill-paying person have to have my taxes go to paying for people like you, but that’s life.

[Author]

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