Why not walk away?

[sandiego]

I am not asking for anything from the Gov’t. I am willing to take my lumps on my credit.

I didn’t cause this problem (by taking out a bad loan), but I am suffering for it because my neighbors did.

[NotCranky]

Where is your part in all of this sandiego? If I understand properly you are already losing your down payment too? 2003 wasn’t such a great time to put a lot of money down on a downtown condo I guess.Did you get the 45% equity you once had from your own capital investment? The appreciation that happened after that is because of bad choices by banks like Countrywide and by your neighbors. So effectively any hole you got yourself into your did it yourself. Am I missing something?

I do’t care about the staying or walking part I just can’t see justifying the decision by the mistakes other people made.

[NotCranky]

Where is your part in all of this sandiego? If I understand properly you are already losing your down payment too? 2003 wasn’t such a great time to put a lot of money down on a downtown condo I guess.Did you get the 45% equity you once had from your own capital investment? The appreciation that happened after that is because of bad choices by banks like Countrywide and by your neighbors. So effectively any hole you got yourself into your did it yourself. Am I missing something?

I do’t care about the staying or walking part I just can’t see justifying the decision by the mistakes other people made.

[NotCranky]

Where is your part in all of this sandiego? If I understand properly you are already losing your down payment too? 2003 wasn’t such a great time to put a lot of money down on a downtown condo I guess.Did you get the 45% equity you once had from your own capital investment? The appreciation that happened after that is because of bad choices by banks like Countrywide and by your neighbors. So effectively any hole you got yourself into your did it yourself. Am I missing something?

I do’t care about the staying or walking part I just can’t see justifying the decision by the mistakes other people made.

[NotCranky]

Where is your part in all of this sandiego? If I understand properly you are already losing your down payment too? 2003 wasn’t such a great time to put a lot of money down on a downtown condo I guess.Did you get the 45% equity you once had from your own capital investment? The appreciation that happened after that is because of bad choices by banks like Countrywide and by your neighbors. So effectively any hole you got yourself into your did it yourself. Am I missing something?

I do’t care about the staying or walking part I just can’t see justifying the decision by the mistakes other people made.

[NotCranky]

Where is your part in all of this sandiego? If I understand properly you are already losing your down payment too? 2003 wasn’t such a great time to put a lot of money down on a downtown condo I guess.Did you get the 45% equity you once had from your own capital investment? The appreciation that happened after that is because of bad choices by banks like Countrywide and by your neighbors. So effectively any hole you got yourself into your did it yourself. Am I missing something?

I do’t care about the staying or walking part I just can’t see justifying the decision by the mistakes other people made.

[nostradamus]

There are so many people in your situation that foreclosure will become a standard on credit reports and not looked down upon. In fact, there will probably be a whole new market opening up with recourse-based loans and credit packaged for people with a foreclosure on their credit history.

Once you have digested the fact that the housing market is not likely to turn around anytime soon, there is no reason not to walk. Unless you feel sorry for the poor wittle banky wanky.

[nostradamus]

There are so many people in your situation that foreclosure will become a standard on credit reports and not looked down upon. In fact, there will probably be a whole new market opening up with recourse-based loans and credit packaged for people with a foreclosure on their credit history.

Once you have digested the fact that the housing market is not likely to turn around anytime soon, there is no reason not to walk. Unless you feel sorry for the poor wittle banky wanky.

[nostradamus]

There are so many people in your situation that foreclosure will become a standard on credit reports and not looked down upon. In fact, there will probably be a whole new market opening up with recourse-based loans and credit packaged for people with a foreclosure on their credit history.

Once you have digested the fact that the housing market is not likely to turn around anytime soon, there is no reason not to walk. Unless you feel sorry for the poor wittle banky wanky.

[nostradamus]

There are so many people in your situation that foreclosure will become a standard on credit reports and not looked down upon. In fact, there will probably be a whole new market opening up with recourse-based loans and credit packaged for people with a foreclosure on their credit history.

Once you have digested the fact that the housing market is not likely to turn around anytime soon, there is no reason not to walk. Unless you feel sorry for the poor wittle banky wanky.

[nostradamus]

There are so many people in your situation that foreclosure will become a standard on credit reports and not looked down upon. In fact, there will probably be a whole new market opening up with recourse-based loans and credit packaged for people with a foreclosure on their credit history.

Once you have digested the fact that the housing market is not likely to turn around anytime soon, there is no reason not to walk. Unless you feel sorry for the poor wittle banky wanky.

[sdrealtor]

I’m with Rustico on this one. Where is your responsibility on this? When you were giddy with equity how come you didnt offer to pay the bank more because you were paying less than full price for the asset when the banks gave money away and inflated the value of your property.

[sdrealtor]

I’m with Rustico on this one. Where is your responsibility on this? When you were giddy with equity how come you didnt offer to pay the bank more because you were paying less than full price for the asset when the banks gave money away and inflated the value of your property.

[sdrealtor]

I’m with Rustico on this one. Where is your responsibility on this? When you were giddy with equity how come you didnt offer to pay the bank more because you were paying less than full price for the asset when the banks gave money away and inflated the value of your property.

[sdrealtor]

I’m with Rustico on this one. Where is your responsibility on this? When you were giddy with equity how come you didnt offer to pay the bank more because you were paying less than full price for the asset when the banks gave money away and inflated the value of your property.

[Author]

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