[mercedes7]

[quote=SellingMyHome]The last two posters are right, I am coming across badly. Sorry. I shouldn’t blame anyone but myself, or at least my ignorance 6 years ago!

Maybe it isn’t the “right” thing to do morally, at least that is what a lot of folks want us to feel. It’s now a financial reason for me. I’m not a morally bankrupt person, just one of those that fell underwater enough to make a hard decision. That study about how people react at certain break points is so true! FYI, we are far from pulling the trigger here.

Plan will be to save as much as possible for a huge downpayment on a house only when the time is right. Had I been reading this site 6 years ago, I would probably still be renting and saving. Oh well. And to the OP, I’m still not looking for pity, or “pitty” as you put it. :)[/quote]

Appreciate your humility. George is right, blaming others (including the banks) and rationalizing is probably what is rubbing people wrong and they are responding to that.

I get the feeling you are probably fairly young as you have young children. In your defense, you probably did not have the benefit of having lived through other down cycles in the real estate market and in 2004 the NAR was still pumping that prices would go up forever. Consequently, I can see that you didn’t see this coming.

Nevertheless, you did make the decision to buy when you did…accept that responsibility. And whatever decision you end up making, I hope you can accept whatever consequences come with that decision. gl

[mercedes7]

[quote=SellingMyHome]The last two posters are right, I am coming across badly. Sorry. I shouldn’t blame anyone but myself, or at least my ignorance 6 years ago!

Maybe it isn’t the “right” thing to do morally, at least that is what a lot of folks want us to feel. It’s now a financial reason for me. I’m not a morally bankrupt person, just one of those that fell underwater enough to make a hard decision. That study about how people react at certain break points is so true! FYI, we are far from pulling the trigger here.

Plan will be to save as much as possible for a huge downpayment on a house only when the time is right. Had I been reading this site 6 years ago, I would probably still be renting and saving. Oh well. And to the OP, I’m still not looking for pity, or “pitty” as you put it. :)[/quote]

Appreciate your humility. George is right, blaming others (including the banks) and rationalizing is probably what is rubbing people wrong and they are responding to that.

I get the feeling you are probably fairly young as you have young children. In your defense, you probably did not have the benefit of having lived through other down cycles in the real estate market and in 2004 the NAR was still pumping that prices would go up forever. Consequently, I can see that you didn’t see this coming.

Nevertheless, you did make the decision to buy when you did…accept that responsibility. And whatever decision you end up making, I hope you can accept whatever consequences come with that decision. gl

[mercedes7]

[quote=SellingMyHome]The last two posters are right, I am coming across badly. Sorry. I shouldn’t blame anyone but myself, or at least my ignorance 6 years ago!

Maybe it isn’t the “right” thing to do morally, at least that is what a lot of folks want us to feel. It’s now a financial reason for me. I’m not a morally bankrupt person, just one of those that fell underwater enough to make a hard decision. That study about how people react at certain break points is so true! FYI, we are far from pulling the trigger here.

Plan will be to save as much as possible for a huge downpayment on a house only when the time is right. Had I been reading this site 6 years ago, I would probably still be renting and saving. Oh well. And to the OP, I’m still not looking for pity, or “pitty” as you put it. :)[/quote]

Appreciate your humility. George is right, blaming others (including the banks) and rationalizing is probably what is rubbing people wrong and they are responding to that.

I get the feeling you are probably fairly young as you have young children. In your defense, you probably did not have the benefit of having lived through other down cycles in the real estate market and in 2004 the NAR was still pumping that prices would go up forever. Consequently, I can see that you didn’t see this coming.

Nevertheless, you did make the decision to buy when you did…accept that responsibility. And whatever decision you end up making, I hope you can accept whatever consequences come with that decision. gl

[mercedes7]

[quote=SellingMyHome]The last two posters are right, I am coming across badly. Sorry. I shouldn’t blame anyone but myself, or at least my ignorance 6 years ago!

Maybe it isn’t the “right” thing to do morally, at least that is what a lot of folks want us to feel. It’s now a financial reason for me. I’m not a morally bankrupt person, just one of those that fell underwater enough to make a hard decision. That study about how people react at certain break points is so true! FYI, we are far from pulling the trigger here.

Plan will be to save as much as possible for a huge downpayment on a house only when the time is right. Had I been reading this site 6 years ago, I would probably still be renting and saving. Oh well. And to the OP, I’m still not looking for pity, or “pitty” as you put it. :)[/quote]

Appreciate your humility. George is right, blaming others (including the banks) and rationalizing is probably what is rubbing people wrong and they are responding to that.

I get the feeling you are probably fairly young as you have young children. In your defense, you probably did not have the benefit of having lived through other down cycles in the real estate market and in 2004 the NAR was still pumping that prices would go up forever. Consequently, I can see that you didn’t see this coming.

Nevertheless, you did make the decision to buy when you did…accept that responsibility. And whatever decision you end up making, I hope you can accept whatever consequences come with that decision. gl

[mercedes7]

[quote=SellingMyHome]The last two posters are right, I am coming across badly. Sorry. I shouldn’t blame anyone but myself, or at least my ignorance 6 years ago!

Maybe it isn’t the “right” thing to do morally, at least that is what a lot of folks want us to feel. It’s now a financial reason for me. I’m not a morally bankrupt person, just one of those that fell underwater enough to make a hard decision. That study about how people react at certain break points is so true! FYI, we are far from pulling the trigger here.

Plan will be to save as much as possible for a huge downpayment on a house only when the time is right. Had I been reading this site 6 years ago, I would probably still be renting and saving. Oh well. And to the OP, I’m still not looking for pity, or “pitty” as you put it. :)[/quote]

Appreciate your humility. George is right, blaming others (including the banks) and rationalizing is probably what is rubbing people wrong and they are responding to that.

I get the feeling you are probably fairly young as you have young children. In your defense, you probably did not have the benefit of having lived through other down cycles in the real estate market and in 2004 the NAR was still pumping that prices would go up forever. Consequently, I can see that you didn’t see this coming.

Nevertheless, you did make the decision to buy when you did…accept that responsibility. And whatever decision you end up making, I hope you can accept whatever consequences come with that decision. gl

[mercedes7]

[quote=SellingMyHome][quote=mercedes7]What I should have done, was gotten an adjustable loan that I would not have been able to afford, then let the government bail me out. I’m at a point that I can’t be bailed out of a bad decision, so I’m choosing another route.[/quote]

Ok, so I may have mistaken “blow me” with “blow off”. Point taken, however I hope you can understand and accept why some people may not agree with the decision you are making.

I also appreciate that you are not entering this decision lightly. And I too am not happy about what has happened with the banks. However, the attitude you display in the above quote is exactly what people here are responding to. It is pretty much prevasive in our society today and why not, our “leaders” are setting the example. It frightens me that this is now the prevailing attitude.

We need to go back to minimum 20% down on a home purchase and no more than 2 1/5 x annual salary -period. That way people would be FORCED to live below their means for a period of time and save for a down payment. Home ownership would then become what it should be, a privledge…and I bet more people would truly appreciate it then.

In your situation, if you had initially put 20% down, and had a 8 month emergency fund, you would not be in a position to do a short sale today as you would have equity. I am not judging, just making an observation.

In fact, if the 20% down had been in place all along, we would not be here discussing this, home prices would not have gone parabolic, and you probably could have bought exactly the home you now want in the first place. gl

[mercedes7]

[quote=SellingMyHome][quote=mercedes7]What I should have done, was gotten an adjustable loan that I would not have been able to afford, then let the government bail me out. I’m at a point that I can’t be bailed out of a bad decision, so I’m choosing another route.[/quote]

Ok, so I may have mistaken “blow me” with “blow off”. Point taken, however I hope you can understand and accept why some people may not agree with the decision you are making.

I also appreciate that you are not entering this decision lightly. And I too am not happy about what has happened with the banks. However, the attitude you display in the above quote is exactly what people here are responding to. It is pretty much prevasive in our society today and why not, our “leaders” are setting the example. It frightens me that this is now the prevailing attitude.

We need to go back to minimum 20% down on a home purchase and no more than 2 1/5 x annual salary -period. That way people would be FORCED to live below their means for a period of time and save for a down payment. Home ownership would then become what it should be, a privledge…and I bet more people would truly appreciate it then.

In your situation, if you had initially put 20% down, and had a 8 month emergency fund, you would not be in a position to do a short sale today as you would have equity. I am not judging, just making an observation.

In fact, if the 20% down had been in place all along, we would not be here discussing this, home prices would not have gone parabolic, and you probably could have bought exactly the home you now want in the first place. gl

[mercedes7]

[quote=SellingMyHome][quote=mercedes7]What I should have done, was gotten an adjustable loan that I would not have been able to afford, then let the government bail me out. I’m at a point that I can’t be bailed out of a bad decision, so I’m choosing another route.[/quote]

Ok, so I may have mistaken “blow me” with “blow off”. Point taken, however I hope you can understand and accept why some people may not agree with the decision you are making.

I also appreciate that you are not entering this decision lightly. And I too am not happy about what has happened with the banks. However, the attitude you display in the above quote is exactly what people here are responding to. It is pretty much prevasive in our society today and why not, our “leaders” are setting the example. It frightens me that this is now the prevailing attitude.

We need to go back to minimum 20% down on a home purchase and no more than 2 1/5 x annual salary -period. That way people would be FORCED to live below their means for a period of time and save for a down payment. Home ownership would then become what it should be, a privledge…and I bet more people would truly appreciate it then.

In your situation, if you had initially put 20% down, and had a 8 month emergency fund, you would not be in a position to do a short sale today as you would have equity. I am not judging, just making an observation.

In fact, if the 20% down had been in place all along, we would not be here discussing this, home prices would not have gone parabolic, and you probably could have bought exactly the home you now want in the first place. gl

[mercedes7]

[quote=SellingMyHome][quote=mercedes7]What I should have done, was gotten an adjustable loan that I would not have been able to afford, then let the government bail me out. I’m at a point that I can’t be bailed out of a bad decision, so I’m choosing another route.[/quote]

Ok, so I may have mistaken “blow me” with “blow off”. Point taken, however I hope you can understand and accept why some people may not agree with the decision you are making.

I also appreciate that you are not entering this decision lightly. And I too am not happy about what has happened with the banks. However, the attitude you display in the above quote is exactly what people here are responding to. It is pretty much prevasive in our society today and why not, our “leaders” are setting the example. It frightens me that this is now the prevailing attitude.

We need to go back to minimum 20% down on a home purchase and no more than 2 1/5 x annual salary -period. That way people would be FORCED to live below their means for a period of time and save for a down payment. Home ownership would then become what it should be, a privledge…and I bet more people would truly appreciate it then.

In your situation, if you had initially put 20% down, and had a 8 month emergency fund, you would not be in a position to do a short sale today as you would have equity. I am not judging, just making an observation.

In fact, if the 20% down had been in place all along, we would not be here discussing this, home prices would not have gone parabolic, and you probably could have bought exactly the home you now want in the first place. gl

[mercedes7]

[quote=SellingMyHome][quote=mercedes7]What I should have done, was gotten an adjustable loan that I would not have been able to afford, then let the government bail me out. I’m at a point that I can’t be bailed out of a bad decision, so I’m choosing another route.[/quote]

Ok, so I may have mistaken “blow me” with “blow off”. Point taken, however I hope you can understand and accept why some people may not agree with the decision you are making.

I also appreciate that you are not entering this decision lightly. And I too am not happy about what has happened with the banks. However, the attitude you display in the above quote is exactly what people here are responding to. It is pretty much prevasive in our society today and why not, our “leaders” are setting the example. It frightens me that this is now the prevailing attitude.

We need to go back to minimum 20% down on a home purchase and no more than 2 1/5 x annual salary -period. That way people would be FORCED to live below their means for a period of time and save for a down payment. Home ownership would then become what it should be, a privledge…and I bet more people would truly appreciate it then.

In your situation, if you had initially put 20% down, and had a 8 month emergency fund, you would not be in a position to do a short sale today as you would have equity. I am not judging, just making an observation.

In fact, if the 20% down had been in place all along, we would not be here discussing this, home prices would not have gone parabolic, and you probably could have bought exactly the home you now want in the first place. gl

[mercedes7]

creechrr… No, you are not alone, and this is definately what is wrong with our society today.

Too many people think it is their God-given right to “own” a home.

To SellingMyHome, you wrote:

Many people wanted the dream of home ownership, is that wrong? Now I find that I can save thousands of dollars a year by renting instead of owning this house whose value was allowed to fall because of bank’s greed.

???..whose value was allowed to fall because of bank’s greed.

Did you happen to check any charts detailing the parabolic rise in home values between 2001-2006? Did you think that would go on forever? Home values absolutely NEED to fall…they are (still) way out of wack with normal home price appreciation over historic norms.

In your thread you mentioned that you are maxing out your 401k but you are not saving anything in an emergency fund. Don’t you think it would be more prudent to cut back on your pre-tax savings so that you can put money in an emergency fund? If you or your wife lose a job, and needed immediate cash, you will pay a hefty penalty to access money in your 401K.

I rarely post here, but your repeated nasty (“blow me”) comments to any of the posters that disagree with your plan and call you out for your nonchalant attitude struck me wrong.

From what I read of your situation, you have the ability to fullfill the obligation you made to your creditor, but are choosing not to do so because it is financially advantageous for you to walk. Why is it a surprise to you that there would be people who do not condone this behavior? You say there is no morality involved…REALLY? I couldn’t in a million years default on an obligation I made regardless of how much of a hardship it would be for me…just not wired that way. You made a bad decision (and I am truly sorry you did), yet are not willing to accept the consequences of that decision AND expect people to support you.

My point is not to berate you, but to get you to stand back and realize that attacking people who don’t agree with you and your choices is insulting and immature.

[mercedes7]

creechrr… No, you are not alone, and this is definately what is wrong with our society today.

Too many people think it is their God-given right to “own” a home.

To SellingMyHome, you wrote:

Many people wanted the dream of home ownership, is that wrong? Now I find that I can save thousands of dollars a year by renting instead of owning this house whose value was allowed to fall because of bank’s greed.

???..whose value was allowed to fall because of bank’s greed.

Did you happen to check any charts detailing the parabolic rise in home values between 2001-2006? Did you think that would go on forever? Home values absolutely NEED to fall…they are (still) way out of wack with normal home price appreciation over historic norms.

In your thread you mentioned that you are maxing out your 401k but you are not saving anything in an emergency fund. Don’t you think it would be more prudent to cut back on your pre-tax savings so that you can put money in an emergency fund? If you or your wife lose a job, and needed immediate cash, you will pay a hefty penalty to access money in your 401K.

I rarely post here, but your repeated nasty (“blow me”) comments to any of the posters that disagree with your plan and call you out for your nonchalant attitude struck me wrong.

From what I read of your situation, you have the ability to fullfill the obligation you made to your creditor, but are choosing not to do so because it is financially advantageous for you to walk. Why is it a surprise to you that there would be people who do not condone this behavior? You say there is no morality involved…REALLY? I couldn’t in a million years default on an obligation I made regardless of how much of a hardship it would be for me…just not wired that way. You made a bad decision (and I am truly sorry you did), yet are not willing to accept the consequences of that decision AND expect people to support you.

My point is not to berate you, but to get you to stand back and realize that attacking people who don’t agree with you and your choices is insulting and immature.

[mercedes7]

creechrr… No, you are not alone, and this is definately what is wrong with our society today.

Too many people think it is their God-given right to “own” a home.

To SellingMyHome, you wrote:

Many people wanted the dream of home ownership, is that wrong? Now I find that I can save thousands of dollars a year by renting instead of owning this house whose value was allowed to fall because of bank’s greed.

???..whose value was allowed to fall because of bank’s greed.

Did you happen to check any charts detailing the parabolic rise in home values between 2001-2006? Did you think that would go on forever? Home values absolutely NEED to fall…they are (still) way out of wack with normal home price appreciation over historic norms.

In your thread you mentioned that you are maxing out your 401k but you are not saving anything in an emergency fund. Don’t you think it would be more prudent to cut back on your pre-tax savings so that you can put money in an emergency fund? If you or your wife lose a job, and needed immediate cash, you will pay a hefty penalty to access money in your 401K.

I rarely post here, but your repeated nasty (“blow me”) comments to any of the posters that disagree with your plan and call you out for your nonchalant attitude struck me wrong.

From what I read of your situation, you have the ability to fullfill the obligation you made to your creditor, but are choosing not to do so because it is financially advantageous for you to walk. Why is it a surprise to you that there would be people who do not condone this behavior? You say there is no morality involved…REALLY? I couldn’t in a million years default on an obligation I made regardless of how much of a hardship it would be for me…just not wired that way. You made a bad decision (and I am truly sorry you did), yet are not willing to accept the consequences of that decision AND expect people to support you.

My point is not to berate you, but to get you to stand back and realize that attacking people who don’t agree with you and your choices is insulting and immature.

[mercedes7]

creechrr… No, you are not alone, and this is definately what is wrong with our society today.

Too many people think it is their God-given right to “own” a home.

To SellingMyHome, you wrote:

Many people wanted the dream of home ownership, is that wrong? Now I find that I can save thousands of dollars a year by renting instead of owning this house whose value was allowed to fall because of bank’s greed.

???..whose value was allowed to fall because of bank’s greed.

Did you happen to check any charts detailing the parabolic rise in home values between 2001-2006? Did you think that would go on forever? Home values absolutely NEED to fall…they are (still) way out of wack with normal home price appreciation over historic norms.

In your thread you mentioned that you are maxing out your 401k but you are not saving anything in an emergency fund. Don’t you think it would be more prudent to cut back on your pre-tax savings so that you can put money in an emergency fund? If you or your wife lose a job, and needed immediate cash, you will pay a hefty penalty to access money in your 401K.

I rarely post here, but your repeated nasty (“blow me”) comments to any of the posters that disagree with your plan and call you out for your nonchalant attitude struck me wrong.

From what I read of your situation, you have the ability to fullfill the obligation you made to your creditor, but are choosing not to do so because it is financially advantageous for you to walk. Why is it a surprise to you that there would be people who do not condone this behavior? You say there is no morality involved…REALLY? I couldn’t in a million years default on an obligation I made regardless of how much of a hardship it would be for me…just not wired that way. You made a bad decision (and I am truly sorry you did), yet are not willing to accept the consequences of that decision AND expect people to support you.

My point is not to berate you, but to get you to stand back and realize that attacking people who don’t agree with you and your choices is insulting and immature.

[mercedes7]

creechrr… No, you are not alone, and this is definately what is wrong with our society today.

Too many people think it is their God-given right to “own” a home.

To SellingMyHome, you wrote:

Many people wanted the dream of home ownership, is that wrong? Now I find that I can save thousands of dollars a year by renting instead of owning this house whose value was allowed to fall because of bank’s greed.

???..whose value was allowed to fall because of bank’s greed.

Did you happen to check any charts detailing the parabolic rise in home values between 2001-2006? Did you think that would go on forever? Home values absolutely NEED to fall…they are (still) way out of wack with normal home price appreciation over historic norms.

In your thread you mentioned that you are maxing out your 401k but you are not saving anything in an emergency fund. Don’t you think it would be more prudent to cut back on your pre-tax savings so that you can put money in an emergency fund? If you or your wife lose a job, and needed immediate cash, you will pay a hefty penalty to access money in your 401K.

I rarely post here, but your repeated nasty (“blow me”) comments to any of the posters that disagree with your plan and call you out for your nonchalant attitude struck me wrong.

From what I read of your situation, you have the ability to fullfill the obligation you made to your creditor, but are choosing not to do so because it is financially advantageous for you to walk. Why is it a surprise to you that there would be people who do not condone this behavior? You say there is no morality involved…REALLY? I couldn’t in a million years default on an obligation I made regardless of how much of a hardship it would be for me…just not wired that way. You made a bad decision (and I am truly sorry you did), yet are not willing to accept the consequences of that decision AND expect people to support you.

My point is not to berate you, but to get you to stand back and realize that attacking people who don’t agree with you and your choices is insulting and immature.

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