[sdduuuude]

It isn’t extortion, but like the earlier poster said, it is a bit of poker because if you walk away and foreclosure happens, the second lender is screwed. Possible to ask the first lender to pitch in, or start over and submit a new offer that specifically says the first lender must pay the second lender from the purchase price. Your strategy will depend on how much “action” there is on the property, too.

Also, don’t be afraid to ask all realtors to pitch in some of their commission to make the transaction happen.

But, before asking for concessions from the first lender and realtors, make sure everyone believes you can and will walk away.

[sdduuuude]

It isn’t extortion, but like the earlier poster said, it is a bit of poker because if you walk away and foreclosure happens, the second lender is screwed. Possible to ask the first lender to pitch in, or start over and submit a new offer that specifically says the first lender must pay the second lender from the purchase price. Your strategy will depend on how much “action” there is on the property, too.

Also, don’t be afraid to ask all realtors to pitch in some of their commission to make the transaction happen.

But, before asking for concessions from the first lender and realtors, make sure everyone believes you can and will walk away.

[sdduuuude]

It isn’t extortion, but like the earlier poster said, it is a bit of poker because if you walk away and foreclosure happens, the second lender is screwed. Possible to ask the first lender to pitch in, or start over and submit a new offer that specifically says the first lender must pay the second lender from the purchase price. Your strategy will depend on how much “action” there is on the property, too.

Also, don’t be afraid to ask all realtors to pitch in some of their commission to make the transaction happen.

But, before asking for concessions from the first lender and realtors, make sure everyone believes you can and will walk away.

[sdduuuude]

It isn’t extortion, but like the earlier poster said, it is a bit of poker because if you walk away and foreclosure happens, the second lender is screwed. Possible to ask the first lender to pitch in, or start over and submit a new offer that specifically says the first lender must pay the second lender from the purchase price. Your strategy will depend on how much “action” there is on the property, too.

Also, don’t be afraid to ask all realtors to pitch in some of their commission to make the transaction happen.

But, before asking for concessions from the first lender and realtors, make sure everyone believes you can and will walk away.

[sdduuuude]

[quote=scaredycat]figure 65% of homes are owned. [/quote]

Well, 100% of homes are owned by someone so all those someones are hoping for appreciation.

It is the % of people who don’t own a home that want prices to come down.

Besides, what they want isn’t necessarily right. Is it ethical for the people who don’t own a home to pay tax dollars to prop up prices for those who do? It is a double-hit because it also makes their rent payments higher ?

And, can those who don’t own homes provide enough cash to really have an effect after many years ?

If you want the gov to keep propping up the price of your house, you end up paying for that up-propping anyway. Either way, you lose.

Or, the next generation loses, as they’ll pay the interest on the money borrowed to prop up the prices. Then, how will they afford the houses ?

Propping up the housing market is an unsustainable plan long-term.

[sdduuuude]

[quote=scaredycat]figure 65% of homes are owned. [/quote]

Well, 100% of homes are owned by someone so all those someones are hoping for appreciation.

It is the % of people who don’t own a home that want prices to come down.

Besides, what they want isn’t necessarily right. Is it ethical for the people who don’t own a home to pay tax dollars to prop up prices for those who do? It is a double-hit because it also makes their rent payments higher ?

And, can those who don’t own homes provide enough cash to really have an effect after many years ?

If you want the gov to keep propping up the price of your house, you end up paying for that up-propping anyway. Either way, you lose.

Or, the next generation loses, as they’ll pay the interest on the money borrowed to prop up the prices. Then, how will they afford the houses ?

Propping up the housing market is an unsustainable plan long-term.

[sdduuuude]

[quote=scaredycat]figure 65% of homes are owned. [/quote]

Well, 100% of homes are owned by someone so all those someones are hoping for appreciation.

It is the % of people who don’t own a home that want prices to come down.

Besides, what they want isn’t necessarily right. Is it ethical for the people who don’t own a home to pay tax dollars to prop up prices for those who do? It is a double-hit because it also makes their rent payments higher ?

And, can those who don’t own homes provide enough cash to really have an effect after many years ?

If you want the gov to keep propping up the price of your house, you end up paying for that up-propping anyway. Either way, you lose.

Or, the next generation loses, as they’ll pay the interest on the money borrowed to prop up the prices. Then, how will they afford the houses ?

Propping up the housing market is an unsustainable plan long-term.

[sdduuuude]

[quote=scaredycat]figure 65% of homes are owned. [/quote]

Well, 100% of homes are owned by someone so all those someones are hoping for appreciation.

It is the % of people who don’t own a home that want prices to come down.

Besides, what they want isn’t necessarily right. Is it ethical for the people who don’t own a home to pay tax dollars to prop up prices for those who do? It is a double-hit because it also makes their rent payments higher ?

And, can those who don’t own homes provide enough cash to really have an effect after many years ?

If you want the gov to keep propping up the price of your house, you end up paying for that up-propping anyway. Either way, you lose.

Or, the next generation loses, as they’ll pay the interest on the money borrowed to prop up the prices. Then, how will they afford the houses ?

Propping up the housing market is an unsustainable plan long-term.

[sdduuuude]

[quote=scaredycat]figure 65% of homes are owned. [/quote]

Well, 100% of homes are owned by someone so all those someones are hoping for appreciation.

It is the % of people who don’t own a home that want prices to come down.

Besides, what they want isn’t necessarily right. Is it ethical for the people who don’t own a home to pay tax dollars to prop up prices for those who do? It is a double-hit because it also makes their rent payments higher ?

And, can those who don’t own homes provide enough cash to really have an effect after many years ?

If you want the gov to keep propping up the price of your house, you end up paying for that up-propping anyway. Either way, you lose.

Or, the next generation loses, as they’ll pay the interest on the money borrowed to prop up the prices. Then, how will they afford the houses ?

Propping up the housing market is an unsustainable plan long-term.

[sdduuuude]

A smart realtor once told me there are 2 kinds of realtors. Those who try to make the process smooth and those that fight the battle for you.

It is in the agent’s best interest to get get you a house quickly so they get paid soon and have to do less work. This means they may not negotiate as hard as they should, or force the seller to pay for x, y, and z, or walk away when they should, for fear of losing the deal.

Sometimes new buyers like that “smooth process” type of realtor, but it ends up costing, not in terms of commission, but in terms of the deal you get. This can be appealing to busy people who just want it to happen, though.

Most people who refer a realtor to you are referring one of the “smooth process” realtors because they have only bought 1 house and it went smoothly !

Talk to as many former clients and other realtors about the individuals that are referred to you to try and determine if they are a fighter or a smoothie so you can make the right choice for yourself.

Also, sdrealtor on this board is really good at digging up dirt on other realtors. What a guy ! Maybe throw some names at him and see what he comes back with. (Sorry to sign you up for free work, sdr.)

[sdduuuude]

A smart realtor once told me there are 2 kinds of realtors. Those who try to make the process smooth and those that fight the battle for you.

It is in the agent’s best interest to get get you a house quickly so they get paid soon and have to do less work. This means they may not negotiate as hard as they should, or force the seller to pay for x, y, and z, or walk away when they should, for fear of losing the deal.

Sometimes new buyers like that “smooth process” type of realtor, but it ends up costing, not in terms of commission, but in terms of the deal you get. This can be appealing to busy people who just want it to happen, though.

Most people who refer a realtor to you are referring one of the “smooth process” realtors because they have only bought 1 house and it went smoothly !

Talk to as many former clients and other realtors about the individuals that are referred to you to try and determine if they are a fighter or a smoothie so you can make the right choice for yourself.

Also, sdrealtor on this board is really good at digging up dirt on other realtors. What a guy ! Maybe throw some names at him and see what he comes back with. (Sorry to sign you up for free work, sdr.)

[sdduuuude]

A smart realtor once told me there are 2 kinds of realtors. Those who try to make the process smooth and those that fight the battle for you.

It is in the agent’s best interest to get get you a house quickly so they get paid soon and have to do less work. This means they may not negotiate as hard as they should, or force the seller to pay for x, y, and z, or walk away when they should, for fear of losing the deal.

Sometimes new buyers like that “smooth process” type of realtor, but it ends up costing, not in terms of commission, but in terms of the deal you get. This can be appealing to busy people who just want it to happen, though.

Most people who refer a realtor to you are referring one of the “smooth process” realtors because they have only bought 1 house and it went smoothly !

Talk to as many former clients and other realtors about the individuals that are referred to you to try and determine if they are a fighter or a smoothie so you can make the right choice for yourself.

Also, sdrealtor on this board is really good at digging up dirt on other realtors. What a guy ! Maybe throw some names at him and see what he comes back with. (Sorry to sign you up for free work, sdr.)

[sdduuuude]

A smart realtor once told me there are 2 kinds of realtors. Those who try to make the process smooth and those that fight the battle for you.

It is in the agent’s best interest to get get you a house quickly so they get paid soon and have to do less work. This means they may not negotiate as hard as they should, or force the seller to pay for x, y, and z, or walk away when they should, for fear of losing the deal.

Sometimes new buyers like that “smooth process” type of realtor, but it ends up costing, not in terms of commission, but in terms of the deal you get. This can be appealing to busy people who just want it to happen, though.

Most people who refer a realtor to you are referring one of the “smooth process” realtors because they have only bought 1 house and it went smoothly !

Talk to as many former clients and other realtors about the individuals that are referred to you to try and determine if they are a fighter or a smoothie so you can make the right choice for yourself.

Also, sdrealtor on this board is really good at digging up dirt on other realtors. What a guy ! Maybe throw some names at him and see what he comes back with. (Sorry to sign you up for free work, sdr.)

[sdduuuude]

A smart realtor once told me there are 2 kinds of realtors. Those who try to make the process smooth and those that fight the battle for you.

It is in the agent’s best interest to get get you a house quickly so they get paid soon and have to do less work. This means they may not negotiate as hard as they should, or force the seller to pay for x, y, and z, or walk away when they should, for fear of losing the deal.

Sometimes new buyers like that “smooth process” type of realtor, but it ends up costing, not in terms of commission, but in terms of the deal you get. This can be appealing to busy people who just want it to happen, though.

Most people who refer a realtor to you are referring one of the “smooth process” realtors because they have only bought 1 house and it went smoothly !

Talk to as many former clients and other realtors about the individuals that are referred to you to try and determine if they are a fighter or a smoothie so you can make the right choice for yourself.

Also, sdrealtor on this board is really good at digging up dirt on other realtors. What a guy ! Maybe throw some names at him and see what he comes back with. (Sorry to sign you up for free work, sdr.)

[sdduuuude]

Ya, good point, Arraya. I guess the question is – if I’m going to default, why not jsut stop making payments, not tell the bank, and live rent-free for 12 months instead of 6 ?

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