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May 17, 2008 at 10:58 AM in reply to: In mortgage market, ‘walkaway’ homeowners may be urban myth #206437May 17, 2008 at 10:58 AM in reply to: In mortgage market, ‘walkaway’ homeowners may be urban myth #206489
peterb
ParticipantIf the Fed can basically ruin the value of the money I’ve saved and invested over the years with their bail-out frenzy, why should I pay back a loan that’s $200K more than the value of the house it’s against? Ability to pay has little to do with it. It’s a business decision, kinda like the decisions they make on Wall Street!!
There’s really a lot of incentives for people who are upside down right now to walk away. The gov has a tax reprieve on the forgiven debt this year, home prices keep falling and we’re in a recession. And as someone stated in an earlier post, rebuilding a credit score is a lot easier than accumulating the $200K I just lost in my house.May 17, 2008 at 10:58 AM in reply to: In mortgage market, ‘walkaway’ homeowners may be urban myth #206519ParticipantIf the Fed can basically ruin the value of the money I’ve saved and invested over the years with their bail-out frenzy, why should I pay back a loan that’s $200K more than the value of the house it’s against? Ability to pay has little to do with it. It’s a business decision, kinda like the decisions they make on Wall Street!!
There’s really a lot of incentives for people who are upside down right now to walk away. The gov has a tax reprieve on the forgiven debt this year, home prices keep falling and we’re in a recession. And as someone stated in an earlier post, rebuilding a credit score is a lot easier than accumulating the $200K I just lost in my house.May 17, 2008 at 10:58 AM in reply to: In mortgage market, ‘walkaway’ homeowners may be urban myth #206546ParticipantIf the Fed can basically ruin the value of the money I’ve saved and invested over the years with their bail-out frenzy, why should I pay back a loan that’s $200K more than the value of the house it’s against? Ability to pay has little to do with it. It’s a business decision, kinda like the decisions they make on Wall Street!!
There’s really a lot of incentives for people who are upside down right now to walk away. The gov has a tax reprieve on the forgiven debt this year, home prices keep falling and we’re in a recession. And as someone stated in an earlier post, rebuilding a credit score is a lot easier than accumulating the $200K I just lost in my house.May 17, 2008 at 10:58 AM in reply to: In mortgage market, ‘walkaway’ homeowners may be urban myth #206573ParticipantIf the Fed can basically ruin the value of the money I’ve saved and invested over the years with their bail-out frenzy, why should I pay back a loan that’s $200K more than the value of the house it’s against? Ability to pay has little to do with it. It’s a business decision, kinda like the decisions they make on Wall Street!!
There’s really a lot of incentives for people who are upside down right now to walk away. The gov has a tax reprieve on the forgiven debt this year, home prices keep falling and we’re in a recession. And as someone stated in an earlier post, rebuilding a credit score is a lot easier than accumulating the $200K I just lost in my house.ParticipantRun from this person. You are the customer. This is also a crappy tactic to get you to stick with her since you are so near to closing.
ParticipantRun from this person. You are the customer. This is also a crappy tactic to get you to stick with her since you are so near to closing.
ParticipantRun from this person. You are the customer. This is also a crappy tactic to get you to stick with her since you are so near to closing.
ParticipantRun from this person. You are the customer. This is also a crappy tactic to get you to stick with her since you are so near to closing.
ParticipantRun from this person. You are the customer. This is also a crappy tactic to get you to stick with her since you are so near to closing.
ParticipantThe explination given in This American Life is almost exactly what a friend in the mortgage business told me a few years ago when I asked him why the mortgage business had gotten to loose and easy. He said,”It’s really simple, there’s a ton of money chasing this market.”
ParticipantThe explination given in This American Life is almost exactly what a friend in the mortgage business told me a few years ago when I asked him why the mortgage business had gotten to loose and easy. He said,”It’s really simple, there’s a ton of money chasing this market.”
ParticipantThe explination given in This American Life is almost exactly what a friend in the mortgage business told me a few years ago when I asked him why the mortgage business had gotten to loose and easy. He said,”It’s really simple, there’s a ton of money chasing this market.”
ParticipantThe explination given in This American Life is almost exactly what a friend in the mortgage business told me a few years ago when I asked him why the mortgage business had gotten to loose and easy. He said,”It’s really simple, there’s a ton of money chasing this market.”
ParticipantThe explination given in This American Life is almost exactly what a friend in the mortgage business told me a few years ago when I asked him why the mortgage business had gotten to loose and easy. He said,”It’s really simple, there’s a ton of money chasing this market.”
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