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mgubnyc1
ParticipantI only know from what I saw when I lived in Murrieta, I bought in 2003 and sold in August of 06. Got the hell out of there!!
Trust me not everyone cashed out and moved away. Alot are still sitting with cash (under their mattress for all I know) waiting for their loan to reset, do you really think they will give that money back to stay in that piece of crap stucco box worth 1 or 2 hundred thousand less then what they paid????
I personely saw 4 neighbors each make close to 200K. I know for a fact the other homes they bought after they sold the ones on my street were zero down. Now I see 2 of these homes in foreclosure. I really don’t think these people are worried about how to hide the money. In the first place 5 or 6 years ago they never even dreamed they would have 1 or 2 hundred thousand in cash, they ain’t given it up!!ParticipantMany individuals/families bought and sold atleast one or two properties with ZERO DOWN then scored 100K or more each time they sold before the bubble bursted in SoCal/Navada/Arizona and Florida. There are alot of people that are going bankrupt or handing the keys back to their lenders with 100’s of thousands in cash, contrary to what our goverment thinks, and what is on the news these millions of people didn’t just bite of more then they could chew!! from these millions of people going bankrupt I’msure hundreds of thousands of them are sitting with 100’s of thousands in cash!!! Now how many of these people do you think will apply for the assistance from our State and Federal goverment if it is offered? Most of the honest hard working people that stretched for the American dream will find 2 or 3 jobs and make the payments on their own with out any assistance.
ParticipantMany individuals/families bought and sold atleast one or two properties with ZERO DOWN then scored 100K or more each time they sold before the bubble bursted in SoCal/Navada/Arizona and Florida. There are alot of people that are going bankrupt or handing the keys back to their lenders with 100’s of thousands in cash, contrary to what our goverment thinks, and what is on the news these millions of people didn’t just bite of more then they could chew!! from these millions of people going bankrupt I’msure hundreds of thousands of them are sitting with 100’s of thousands in cash!!! Now how many of these people do you think will apply for the assistance from our State and Federal goverment if it is offered? Most of the honest hard working people that stretched for the American dream will find 2 or 3 jobs and make the payments on their own with out any assistance.
ParticipantMany individuals/families bought and sold atleast one or two properties with ZERO DOWN then scored 100K or more each time they sold before the bubble bursted in SoCal/Navada/Arizona and Florida. There are alot of people that are going bankrupt or handing the keys back to their lenders with 100’s of thousands in cash, contrary to what our goverment thinks, and what is on the news these millions of people didn’t just bite of more then they could chew!! from these millions of people going bankrupt I’msure hundreds of thousands of them are sitting with 100’s of thousands in cash!!! Now how many of these people do you think will apply for the assistance from our State and Federal goverment if it is offered? Most of the honest hard working people that stretched for the American dream will find 2 or 3 jobs and make the payments on their own with out any assistance.
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