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DoJC
ParticipantWow, this twist could really aggravate the housing problem we’re having. When people who can otherwise afford their home simply walk away due to the unfavorable ratio of mortgage debt to value on their home we’re in for some seriously bad housing market times. Lenders will become even less willing to extend loans to people that could easily buy a home due to the risk in states like CA where the plunge is still happening.
ParticipantWow, this twist could really aggravate the housing problem we’re having. When people who can otherwise afford their home simply walk away due to the unfavorable ratio of mortgage debt to value on their home we’re in for some seriously bad housing market times. Lenders will become even less willing to extend loans to people that could easily buy a home due to the risk in states like CA where the plunge is still happening.
ParticipantWow, this twist could really aggravate the housing problem we’re having. When people who can otherwise afford their home simply walk away due to the unfavorable ratio of mortgage debt to value on their home we’re in for some seriously bad housing market times. Lenders will become even less willing to extend loans to people that could easily buy a home due to the risk in states like CA where the plunge is still happening.
ParticipantWow, this twist could really aggravate the housing problem we’re having. When people who can otherwise afford their home simply walk away due to the unfavorable ratio of mortgage debt to value on their home we’re in for some seriously bad housing market times. Lenders will become even less willing to extend loans to people that could easily buy a home due to the risk in states like CA where the plunge is still happening.
ParticipantI don’t mind paying dues of or around $100 per month IF they are going to good use in the neighborhood. An example of how this can go totally wrong is a friend who lives in LA. His association decided to spend all its money upgrading the entrance of their condo complex so it raised the value of their condos. All fine and good for investors seeking to sell and move up, but bad for people like my friend. His roof leaked and needed immediate attention. Even after he and several other neighbors complained the association ignored them and continued spending on stuff to increase the value of the property, but degraded the actual condos themselves due to neglect and ignorance.
I never want to own a money pit known as a pool. I’ll gladly pay the extra money for a hot tub, gym and pool in the community over spending money on a pool and maintenance costs.
ParticipantI don’t mind paying dues of or around $100 per month IF they are going to good use in the neighborhood. An example of how this can go totally wrong is a friend who lives in LA. His association decided to spend all its money upgrading the entrance of their condo complex so it raised the value of their condos. All fine and good for investors seeking to sell and move up, but bad for people like my friend. His roof leaked and needed immediate attention. Even after he and several other neighbors complained the association ignored them and continued spending on stuff to increase the value of the property, but degraded the actual condos themselves due to neglect and ignorance.
I never want to own a money pit known as a pool. I’ll gladly pay the extra money for a hot tub, gym and pool in the community over spending money on a pool and maintenance costs.
ParticipantI don’t mind paying dues of or around $100 per month IF they are going to good use in the neighborhood. An example of how this can go totally wrong is a friend who lives in LA. His association decided to spend all its money upgrading the entrance of their condo complex so it raised the value of their condos. All fine and good for investors seeking to sell and move up, but bad for people like my friend. His roof leaked and needed immediate attention. Even after he and several other neighbors complained the association ignored them and continued spending on stuff to increase the value of the property, but degraded the actual condos themselves due to neglect and ignorance.
I never want to own a money pit known as a pool. I’ll gladly pay the extra money for a hot tub, gym and pool in the community over spending money on a pool and maintenance costs.
ParticipantI don’t mind paying dues of or around $100 per month IF they are going to good use in the neighborhood. An example of how this can go totally wrong is a friend who lives in LA. His association decided to spend all its money upgrading the entrance of their condo complex so it raised the value of their condos. All fine and good for investors seeking to sell and move up, but bad for people like my friend. His roof leaked and needed immediate attention. Even after he and several other neighbors complained the association ignored them and continued spending on stuff to increase the value of the property, but degraded the actual condos themselves due to neglect and ignorance.
I never want to own a money pit known as a pool. I’ll gladly pay the extra money for a hot tub, gym and pool in the community over spending money on a pool and maintenance costs.
ParticipantI don’t mind paying dues of or around $100 per month IF they are going to good use in the neighborhood. An example of how this can go totally wrong is a friend who lives in LA. His association decided to spend all its money upgrading the entrance of their condo complex so it raised the value of their condos. All fine and good for investors seeking to sell and move up, but bad for people like my friend. His roof leaked and needed immediate attention. Even after he and several other neighbors complained the association ignored them and continued spending on stuff to increase the value of the property, but degraded the actual condos themselves due to neglect and ignorance.
I never want to own a money pit known as a pool. I’ll gladly pay the extra money for a hot tub, gym and pool in the community over spending money on a pool and maintenance costs.
ParticipantThese folks who are thinking about breaking their contracts on the premise of dropping values would scream and sue everyone involved if the reverse situation was true – home prices appreciating nicely and the bank decided it wanted to break their contract and take back the house and sell it for more money. If an contractual agreement is simply a matter of convenience it should hold true that both parties that entered into the agreement aren’t bound by its terms. If people who can afford to pay are allowed to simply walk away for their own convenience and lack of due diligence then the banks have every right to enforce the contract.
My favorite line is from the woman who states: Stephanie: Why make a $3200 a month payment on a 1200 square foot home? It makes no sense.
I bet you that when the house was appreciating at 15-20% per year she was fine with making a payment like that. But, when she gambled on that trend continuing into the future, and lost that gamble, it suddenly doesn’t make sense.
Man, David Hannum (not PT Barnum who was mistakenly attributed with the famous quote) was dead on, and way ahead of his time – “There is a sucker born every minute!”
-Doug
ParticipantThese folks who are thinking about breaking their contracts on the premise of dropping values would scream and sue everyone involved if the reverse situation was true – home prices appreciating nicely and the bank decided it wanted to break their contract and take back the house and sell it for more money. If an contractual agreement is simply a matter of convenience it should hold true that both parties that entered into the agreement aren’t bound by its terms. If people who can afford to pay are allowed to simply walk away for their own convenience and lack of due diligence then the banks have every right to enforce the contract.
My favorite line is from the woman who states: Stephanie: Why make a $3200 a month payment on a 1200 square foot home? It makes no sense.
I bet you that when the house was appreciating at 15-20% per year she was fine with making a payment like that. But, when she gambled on that trend continuing into the future, and lost that gamble, it suddenly doesn’t make sense.
Man, David Hannum (not PT Barnum who was mistakenly attributed with the famous quote) was dead on, and way ahead of his time – “There is a sucker born every minute!”
-Doug
ParticipantThese folks who are thinking about breaking their contracts on the premise of dropping values would scream and sue everyone involved if the reverse situation was true – home prices appreciating nicely and the bank decided it wanted to break their contract and take back the house and sell it for more money. If an contractual agreement is simply a matter of convenience it should hold true that both parties that entered into the agreement aren’t bound by its terms. If people who can afford to pay are allowed to simply walk away for their own convenience and lack of due diligence then the banks have every right to enforce the contract.
My favorite line is from the woman who states: Stephanie: Why make a $3200 a month payment on a 1200 square foot home? It makes no sense.
I bet you that when the house was appreciating at 15-20% per year she was fine with making a payment like that. But, when she gambled on that trend continuing into the future, and lost that gamble, it suddenly doesn’t make sense.
Man, David Hannum (not PT Barnum who was mistakenly attributed with the famous quote) was dead on, and way ahead of his time – “There is a sucker born every minute!”
-Doug
ParticipantThese folks who are thinking about breaking their contracts on the premise of dropping values would scream and sue everyone involved if the reverse situation was true – home prices appreciating nicely and the bank decided it wanted to break their contract and take back the house and sell it for more money. If an contractual agreement is simply a matter of convenience it should hold true that both parties that entered into the agreement aren’t bound by its terms. If people who can afford to pay are allowed to simply walk away for their own convenience and lack of due diligence then the banks have every right to enforce the contract.
My favorite line is from the woman who states: Stephanie: Why make a $3200 a month payment on a 1200 square foot home? It makes no sense.
I bet you that when the house was appreciating at 15-20% per year she was fine with making a payment like that. But, when she gambled on that trend continuing into the future, and lost that gamble, it suddenly doesn’t make sense.
Man, David Hannum (not PT Barnum who was mistakenly attributed with the famous quote) was dead on, and way ahead of his time – “There is a sucker born every minute!”
-Doug
ParticipantThese folks who are thinking about breaking their contracts on the premise of dropping values would scream and sue everyone involved if the reverse situation was true – home prices appreciating nicely and the bank decided it wanted to break their contract and take back the house and sell it for more money. If an contractual agreement is simply a matter of convenience it should hold true that both parties that entered into the agreement aren’t bound by its terms. If people who can afford to pay are allowed to simply walk away for their own convenience and lack of due diligence then the banks have every right to enforce the contract.
My favorite line is from the woman who states: Stephanie: Why make a $3200 a month payment on a 1200 square foot home? It makes no sense.
I bet you that when the house was appreciating at 15-20% per year she was fine with making a payment like that. But, when she gambled on that trend continuing into the future, and lost that gamble, it suddenly doesn’t make sense.
Man, David Hannum (not PT Barnum who was mistakenly attributed with the famous quote) was dead on, and way ahead of his time – “There is a sucker born every minute!”
-Doug
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