[temeculaguy]

Dude, don’t be a hater, Ramona is cool, well the estates are cool. They are also the most recent viticultural region accepted into the state, the grapes are growing, who knows, maybe it’s the next wine country.

It’s cheaper, it actually has the lowest crime rate in the county (confirmed by sandag) and has for years. Everyone is different, but it’s kinda like being in the midwest a little, without actually having to go there. Getting there blows, it’s very low on the single hot-chick-o-meter, but some people want to get away and the crazy horse ladies got to live somewhere.

[temeculaguy]

Dude, don’t be a hater, Ramona is cool, well the estates are cool. They are also the most recent viticultural region accepted into the state, the grapes are growing, who knows, maybe it’s the next wine country.

It’s cheaper, it actually has the lowest crime rate in the county (confirmed by sandag) and has for years. Everyone is different, but it’s kinda like being in the midwest a little, without actually having to go there. Getting there blows, it’s very low on the single hot-chick-o-meter, but some people want to get away and the crazy horse ladies got to live somewhere.

[temeculaguy]

Dude, don’t be a hater, Ramona is cool, well the estates are cool. They are also the most recent viticultural region accepted into the state, the grapes are growing, who knows, maybe it’s the next wine country.

It’s cheaper, it actually has the lowest crime rate in the county (confirmed by sandag) and has for years. Everyone is different, but it’s kinda like being in the midwest a little, without actually having to go there. Getting there blows, it’s very low on the single hot-chick-o-meter, but some people want to get away and the crazy horse ladies got to live somewhere.

[temeculaguy]

Dude, don’t be a hater, Ramona is cool, well the estates are cool. They are also the most recent viticultural region accepted into the state, the grapes are growing, who knows, maybe it’s the next wine country.

It’s cheaper, it actually has the lowest crime rate in the county (confirmed by sandag) and has for years. Everyone is different, but it’s kinda like being in the midwest a little, without actually having to go there. Getting there blows, it’s very low on the single hot-chick-o-meter, but some people want to get away and the crazy horse ladies got to live somewhere.

[temeculaguy]

I’ll answer your qestions but let’s not make this another “I hate temecula” thread and stay with the specific tracts vs others. I’m only saying this because that seems to be the inevitable direction of these things.

1-not bad, at 7 am, you have to wait through a couple light cycles to get onto 15 south, they are going to make one of those clover leafs so it will be easier. It used to suck, but they went from 2 lanes to six in the least few years, so it’s ok now.

2-The overall quality of life in the temecula parkway corridor is as good as it gets in the valley (this includes both north and south of the parkway), as far as vail ranch goes, it’s one of my least favorite developments. It’s quality of life is good, it’s schools are good, actually among the best, strike that, they are the best in this county, they share schools with redhawk, morgan, wolf and the other adjacent developments, but to be honest, vail is the weak link.

3-vail has three things working against it vs. the other choices: AGE (most of it is at least ten years old), SIZE (most of the houses are small, there a few exceptions but a 1200-1900 sq ft 3/2 or 4/2 with a 2 car garage is the average house. And NO HOA (it is one of the few large developments in the area that lacks an HOA.

If it only had one or two of the three, it might be fine, but the trifecta is a recepie for disaster. It also has a higher percentage of rentals than the other developments because most are starter homes, most were built during the last downturn and most were built when margins were very thin so they built them as cheaply as they could. The lack of uniform fencing bugs me, i guess I’m picky, but everyones fense seems to be a different color, material and stae of disrepair. This may sound trivial, but it casts of a yucky curbside feeling and i know I’d be the guy with the vinyl fence next to the guy with the dilapidated, burned out untereated balsa wood thing, propped up by milkcrates and random patches.

It’s equal in size would be paloma del sol, which I think is a better choice because the hoa has kept it looking better and it has ammenities (like pools and more landscaping). Paloma is just as old and the house size is similar (there are exceptions in both), but head to head, paloma is just nicer.

vail doesn’t compare really to redhwak, it’s very different. Redhawk is just as old if not older in some cases but the homes are in most cases about twice as large, it has an hoa and most houses have nicer hardscape, landscaping is kept up and improved more. keep in mind these are broad strokes I’m painting, each place has about 5000 people, more than a dozen tracts each, so there are some pockets of nice big homes in vail and some small ones in redhwak. There is a fill in tract in redhawk called bridlevail (off via cordoba) that isn’t in the redhawk hoa and the homes are small, but it is accessed via redhawk and almost every listing for one says “redhawk beauty.” I don’t know if realtors realize it or hope the buyer won’t. It’s still decent, it has it’s own hoa and a pool but it’s a little different, a little more vail ranchish.

The trouble with vail is that since most the homes are smaller, people tend to use their garage as living or storage space and it seems like every car is on the street (and the number of monster trucks seems to be higher, and as paramount alluded to, it’s more rednecky).

It’s not bad, but it’s no redhawk. Of the four main developments south of temecula parkway, morgan and redhwak attract a higher demographic, wolf is an enigma, it’s proximity to the casino and flatland location bothered me, but I like the actual houses and vail has a good location but has those three strikes I mentioned and would be my last pick. I had a girlfriend that lived in vail at one point and one that lived in paloma at a different point, so I am vaugely familiar with both and they were about the same sized (the house, not the girlfriend), I’d pick the paloma house, both the women were crazy so there’s no pick there, actually the vail one was…….that’s another story, but the paloma girl had a better neighborhood and a better built house.

You can label me a snob, but I considered the other three and a few places on the north side of the parkway, each has it’s plusses and minuses but I never considered vail for the reasons stated above, I’ve owned two and rented two places south of the parkway on the 11 years as a southie, none of which were in vail but most were within a mile or so. It is cheaper, but there are cheap places that are better in my never humble opinion.

[temeculaguy]

I’ll answer your qestions but let’s not make this another “I hate temecula” thread and stay with the specific tracts vs others. I’m only saying this because that seems to be the inevitable direction of these things.

1-not bad, at 7 am, you have to wait through a couple light cycles to get onto 15 south, they are going to make one of those clover leafs so it will be easier. It used to suck, but they went from 2 lanes to six in the least few years, so it’s ok now.

2-The overall quality of life in the temecula parkway corridor is as good as it gets in the valley (this includes both north and south of the parkway), as far as vail ranch goes, it’s one of my least favorite developments. It’s quality of life is good, it’s schools are good, actually among the best, strike that, they are the best in this county, they share schools with redhawk, morgan, wolf and the other adjacent developments, but to be honest, vail is the weak link.

3-vail has three things working against it vs. the other choices: AGE (most of it is at least ten years old), SIZE (most of the houses are small, there a few exceptions but a 1200-1900 sq ft 3/2 or 4/2 with a 2 car garage is the average house. And NO HOA (it is one of the few large developments in the area that lacks an HOA.

If it only had one or two of the three, it might be fine, but the trifecta is a recepie for disaster. It also has a higher percentage of rentals than the other developments because most are starter homes, most were built during the last downturn and most were built when margins were very thin so they built them as cheaply as they could. The lack of uniform fencing bugs me, i guess I’m picky, but everyones fense seems to be a different color, material and stae of disrepair. This may sound trivial, but it casts of a yucky curbside feeling and i know I’d be the guy with the vinyl fence next to the guy with the dilapidated, burned out untereated balsa wood thing, propped up by milkcrates and random patches.

It’s equal in size would be paloma del sol, which I think is a better choice because the hoa has kept it looking better and it has ammenities (like pools and more landscaping). Paloma is just as old and the house size is similar (there are exceptions in both), but head to head, paloma is just nicer.

vail doesn’t compare really to redhwak, it’s very different. Redhawk is just as old if not older in some cases but the homes are in most cases about twice as large, it has an hoa and most houses have nicer hardscape, landscaping is kept up and improved more. keep in mind these are broad strokes I’m painting, each place has about 5000 people, more than a dozen tracts each, so there are some pockets of nice big homes in vail and some small ones in redhwak. There is a fill in tract in redhawk called bridlevail (off via cordoba) that isn’t in the redhawk hoa and the homes are small, but it is accessed via redhawk and almost every listing for one says “redhawk beauty.” I don’t know if realtors realize it or hope the buyer won’t. It’s still decent, it has it’s own hoa and a pool but it’s a little different, a little more vail ranchish.

The trouble with vail is that since most the homes are smaller, people tend to use their garage as living or storage space and it seems like every car is on the street (and the number of monster trucks seems to be higher, and as paramount alluded to, it’s more rednecky).

It’s not bad, but it’s no redhawk. Of the four main developments south of temecula parkway, morgan and redhwak attract a higher demographic, wolf is an enigma, it’s proximity to the casino and flatland location bothered me, but I like the actual houses and vail has a good location but has those three strikes I mentioned and would be my last pick. I had a girlfriend that lived in vail at one point and one that lived in paloma at a different point, so I am vaugely familiar with both and they were about the same sized (the house, not the girlfriend), I’d pick the paloma house, both the women were crazy so there’s no pick there, actually the vail one was…….that’s another story, but the paloma girl had a better neighborhood and a better built house.

You can label me a snob, but I considered the other three and a few places on the north side of the parkway, each has it’s plusses and minuses but I never considered vail for the reasons stated above, I’ve owned two and rented two places south of the parkway on the 11 years as a southie, none of which were in vail but most were within a mile or so. It is cheaper, but there are cheap places that are better in my never humble opinion.

[temeculaguy]

I’ll answer your qestions but let’s not make this another “I hate temecula” thread and stay with the specific tracts vs others. I’m only saying this because that seems to be the inevitable direction of these things.

1-not bad, at 7 am, you have to wait through a couple light cycles to get onto 15 south, they are going to make one of those clover leafs so it will be easier. It used to suck, but they went from 2 lanes to six in the least few years, so it’s ok now.

2-The overall quality of life in the temecula parkway corridor is as good as it gets in the valley (this includes both north and south of the parkway), as far as vail ranch goes, it’s one of my least favorite developments. It’s quality of life is good, it’s schools are good, actually among the best, strike that, they are the best in this county, they share schools with redhawk, morgan, wolf and the other adjacent developments, but to be honest, vail is the weak link.

3-vail has three things working against it vs. the other choices: AGE (most of it is at least ten years old), SIZE (most of the houses are small, there a few exceptions but a 1200-1900 sq ft 3/2 or 4/2 with a 2 car garage is the average house. And NO HOA (it is one of the few large developments in the area that lacks an HOA.

If it only had one or two of the three, it might be fine, but the trifecta is a recepie for disaster. It also has a higher percentage of rentals than the other developments because most are starter homes, most were built during the last downturn and most were built when margins were very thin so they built them as cheaply as they could. The lack of uniform fencing bugs me, i guess I’m picky, but everyones fense seems to be a different color, material and stae of disrepair. This may sound trivial, but it casts of a yucky curbside feeling and i know I’d be the guy with the vinyl fence next to the guy with the dilapidated, burned out untereated balsa wood thing, propped up by milkcrates and random patches.

It’s equal in size would be paloma del sol, which I think is a better choice because the hoa has kept it looking better and it has ammenities (like pools and more landscaping). Paloma is just as old and the house size is similar (there are exceptions in both), but head to head, paloma is just nicer.

vail doesn’t compare really to redhwak, it’s very different. Redhawk is just as old if not older in some cases but the homes are in most cases about twice as large, it has an hoa and most houses have nicer hardscape, landscaping is kept up and improved more. keep in mind these are broad strokes I’m painting, each place has about 5000 people, more than a dozen tracts each, so there are some pockets of nice big homes in vail and some small ones in redhwak. There is a fill in tract in redhawk called bridlevail (off via cordoba) that isn’t in the redhawk hoa and the homes are small, but it is accessed via redhawk and almost every listing for one says “redhawk beauty.” I don’t know if realtors realize it or hope the buyer won’t. It’s still decent, it has it’s own hoa and a pool but it’s a little different, a little more vail ranchish.

The trouble with vail is that since most the homes are smaller, people tend to use their garage as living or storage space and it seems like every car is on the street (and the number of monster trucks seems to be higher, and as paramount alluded to, it’s more rednecky).

It’s not bad, but it’s no redhawk. Of the four main developments south of temecula parkway, morgan and redhwak attract a higher demographic, wolf is an enigma, it’s proximity to the casino and flatland location bothered me, but I like the actual houses and vail has a good location but has those three strikes I mentioned and would be my last pick. I had a girlfriend that lived in vail at one point and one that lived in paloma at a different point, so I am vaugely familiar with both and they were about the same sized (the house, not the girlfriend), I’d pick the paloma house, both the women were crazy so there’s no pick there, actually the vail one was…….that’s another story, but the paloma girl had a better neighborhood and a better built house.

You can label me a snob, but I considered the other three and a few places on the north side of the parkway, each has it’s plusses and minuses but I never considered vail for the reasons stated above, I’ve owned two and rented two places south of the parkway on the 11 years as a southie, none of which were in vail but most were within a mile or so. It is cheaper, but there are cheap places that are better in my never humble opinion.

[temeculaguy]

I’ll answer your qestions but let’s not make this another “I hate temecula” thread and stay with the specific tracts vs others. I’m only saying this because that seems to be the inevitable direction of these things.

1-not bad, at 7 am, you have to wait through a couple light cycles to get onto 15 south, they are going to make one of those clover leafs so it will be easier. It used to suck, but they went from 2 lanes to six in the least few years, so it’s ok now.

2-The overall quality of life in the temecula parkway corridor is as good as it gets in the valley (this includes both north and south of the parkway), as far as vail ranch goes, it’s one of my least favorite developments. It’s quality of life is good, it’s schools are good, actually among the best, strike that, they are the best in this county, they share schools with redhawk, morgan, wolf and the other adjacent developments, but to be honest, vail is the weak link.

3-vail has three things working against it vs. the other choices: AGE (most of it is at least ten years old), SIZE (most of the houses are small, there a few exceptions but a 1200-1900 sq ft 3/2 or 4/2 with a 2 car garage is the average house. And NO HOA (it is one of the few large developments in the area that lacks an HOA.

If it only had one or two of the three, it might be fine, but the trifecta is a recepie for disaster. It also has a higher percentage of rentals than the other developments because most are starter homes, most were built during the last downturn and most were built when margins were very thin so they built them as cheaply as they could. The lack of uniform fencing bugs me, i guess I’m picky, but everyones fense seems to be a different color, material and stae of disrepair. This may sound trivial, but it casts of a yucky curbside feeling and i know I’d be the guy with the vinyl fence next to the guy with the dilapidated, burned out untereated balsa wood thing, propped up by milkcrates and random patches.

It’s equal in size would be paloma del sol, which I think is a better choice because the hoa has kept it looking better and it has ammenities (like pools and more landscaping). Paloma is just as old and the house size is similar (there are exceptions in both), but head to head, paloma is just nicer.

vail doesn’t compare really to redhwak, it’s very different. Redhawk is just as old if not older in some cases but the homes are in most cases about twice as large, it has an hoa and most houses have nicer hardscape, landscaping is kept up and improved more. keep in mind these are broad strokes I’m painting, each place has about 5000 people, more than a dozen tracts each, so there are some pockets of nice big homes in vail and some small ones in redhwak. There is a fill in tract in redhawk called bridlevail (off via cordoba) that isn’t in the redhawk hoa and the homes are small, but it is accessed via redhawk and almost every listing for one says “redhawk beauty.” I don’t know if realtors realize it or hope the buyer won’t. It’s still decent, it has it’s own hoa and a pool but it’s a little different, a little more vail ranchish.

The trouble with vail is that since most the homes are smaller, people tend to use their garage as living or storage space and it seems like every car is on the street (and the number of monster trucks seems to be higher, and as paramount alluded to, it’s more rednecky).

It’s not bad, but it’s no redhawk. Of the four main developments south of temecula parkway, morgan and redhwak attract a higher demographic, wolf is an enigma, it’s proximity to the casino and flatland location bothered me, but I like the actual houses and vail has a good location but has those three strikes I mentioned and would be my last pick. I had a girlfriend that lived in vail at one point and one that lived in paloma at a different point, so I am vaugely familiar with both and they were about the same sized (the house, not the girlfriend), I’d pick the paloma house, both the women were crazy so there’s no pick there, actually the vail one was…….that’s another story, but the paloma girl had a better neighborhood and a better built house.

You can label me a snob, but I considered the other three and a few places on the north side of the parkway, each has it’s plusses and minuses but I never considered vail for the reasons stated above, I’ve owned two and rented two places south of the parkway on the 11 years as a southie, none of which were in vail but most were within a mile or so. It is cheaper, but there are cheap places that are better in my never humble opinion.

[temeculaguy]

I’ll answer your qestions but let’s not make this another “I hate temecula” thread and stay with the specific tracts vs others. I’m only saying this because that seems to be the inevitable direction of these things.

1-not bad, at 7 am, you have to wait through a couple light cycles to get onto 15 south, they are going to make one of those clover leafs so it will be easier. It used to suck, but they went from 2 lanes to six in the least few years, so it’s ok now.

2-The overall quality of life in the temecula parkway corridor is as good as it gets in the valley (this includes both north and south of the parkway), as far as vail ranch goes, it’s one of my least favorite developments. It’s quality of life is good, it’s schools are good, actually among the best, strike that, they are the best in this county, they share schools with redhawk, morgan, wolf and the other adjacent developments, but to be honest, vail is the weak link.

3-vail has three things working against it vs. the other choices: AGE (most of it is at least ten years old), SIZE (most of the houses are small, there a few exceptions but a 1200-1900 sq ft 3/2 or 4/2 with a 2 car garage is the average house. And NO HOA (it is one of the few large developments in the area that lacks an HOA.

If it only had one or two of the three, it might be fine, but the trifecta is a recepie for disaster. It also has a higher percentage of rentals than the other developments because most are starter homes, most were built during the last downturn and most were built when margins were very thin so they built them as cheaply as they could. The lack of uniform fencing bugs me, i guess I’m picky, but everyones fense seems to be a different color, material and stae of disrepair. This may sound trivial, but it casts of a yucky curbside feeling and i know I’d be the guy with the vinyl fence next to the guy with the dilapidated, burned out untereated balsa wood thing, propped up by milkcrates and random patches.

It’s equal in size would be paloma del sol, which I think is a better choice because the hoa has kept it looking better and it has ammenities (like pools and more landscaping). Paloma is just as old and the house size is similar (there are exceptions in both), but head to head, paloma is just nicer.

vail doesn’t compare really to redhwak, it’s very different. Redhawk is just as old if not older in some cases but the homes are in most cases about twice as large, it has an hoa and most houses have nicer hardscape, landscaping is kept up and improved more. keep in mind these are broad strokes I’m painting, each place has about 5000 people, more than a dozen tracts each, so there are some pockets of nice big homes in vail and some small ones in redhwak. There is a fill in tract in redhawk called bridlevail (off via cordoba) that isn’t in the redhawk hoa and the homes are small, but it is accessed via redhawk and almost every listing for one says “redhawk beauty.” I don’t know if realtors realize it or hope the buyer won’t. It’s still decent, it has it’s own hoa and a pool but it’s a little different, a little more vail ranchish.

The trouble with vail is that since most the homes are smaller, people tend to use their garage as living or storage space and it seems like every car is on the street (and the number of monster trucks seems to be higher, and as paramount alluded to, it’s more rednecky).

It’s not bad, but it’s no redhawk. Of the four main developments south of temecula parkway, morgan and redhwak attract a higher demographic, wolf is an enigma, it’s proximity to the casino and flatland location bothered me, but I like the actual houses and vail has a good location but has those three strikes I mentioned and would be my last pick. I had a girlfriend that lived in vail at one point and one that lived in paloma at a different point, so I am vaugely familiar with both and they were about the same sized (the house, not the girlfriend), I’d pick the paloma house, both the women were crazy so there’s no pick there, actually the vail one was…….that’s another story, but the paloma girl had a better neighborhood and a better built house.

You can label me a snob, but I considered the other three and a few places on the north side of the parkway, each has it’s plusses and minuses but I never considered vail for the reasons stated above, I’ve owned two and rented two places south of the parkway on the 11 years as a southie, none of which were in vail but most were within a mile or so. It is cheaper, but there are cheap places that are better in my never humble opinion.

[temeculaguy]

AN, I think the type of purchases today is also causing people to want larger reserves. Most sales are foreclosures, with no warranty. I know I held back an additional chunk of change because I couldn’t turn the water on until after escrow was closed, energizing the main line was a very tense experience, positioning friends and relatives at every sink and bathroom. I accidentally watched Red October on cable a few days before and had nighmares about pipes busting and floods, not to mention my fear of cemented drain pipes that I had read about. It’s like going “all in” before seeing the flop. Most piggies are such planners that it borders on mental illness, spinning the wheel of chance isn’t something we are comfortable with.

I do envy the loyalty that your family has, perhaps it’s cultural or perhaps I just dislike some of my relatives because there a couple that I don’t even let in the house let alone loan them money.

[temeculaguy]

AN, I think the type of purchases today is also causing people to want larger reserves. Most sales are foreclosures, with no warranty. I know I held back an additional chunk of change because I couldn’t turn the water on until after escrow was closed, energizing the main line was a very tense experience, positioning friends and relatives at every sink and bathroom. I accidentally watched Red October on cable a few days before and had nighmares about pipes busting and floods, not to mention my fear of cemented drain pipes that I had read about. It’s like going “all in” before seeing the flop. Most piggies are such planners that it borders on mental illness, spinning the wheel of chance isn’t something we are comfortable with.

I do envy the loyalty that your family has, perhaps it’s cultural or perhaps I just dislike some of my relatives because there a couple that I don’t even let in the house let alone loan them money.

[temeculaguy]

AN, I think the type of purchases today is also causing people to want larger reserves. Most sales are foreclosures, with no warranty. I know I held back an additional chunk of change because I couldn’t turn the water on until after escrow was closed, energizing the main line was a very tense experience, positioning friends and relatives at every sink and bathroom. I accidentally watched Red October on cable a few days before and had nighmares about pipes busting and floods, not to mention my fear of cemented drain pipes that I had read about. It’s like going “all in” before seeing the flop. Most piggies are such planners that it borders on mental illness, spinning the wheel of chance isn’t something we are comfortable with.

I do envy the loyalty that your family has, perhaps it’s cultural or perhaps I just dislike some of my relatives because there a couple that I don’t even let in the house let alone loan them money.

[temeculaguy]

AN, I think the type of purchases today is also causing people to want larger reserves. Most sales are foreclosures, with no warranty. I know I held back an additional chunk of change because I couldn’t turn the water on until after escrow was closed, energizing the main line was a very tense experience, positioning friends and relatives at every sink and bathroom. I accidentally watched Red October on cable a few days before and had nighmares about pipes busting and floods, not to mention my fear of cemented drain pipes that I had read about. It’s like going “all in” before seeing the flop. Most piggies are such planners that it borders on mental illness, spinning the wheel of chance isn’t something we are comfortable with.

I do envy the loyalty that your family has, perhaps it’s cultural or perhaps I just dislike some of my relatives because there a couple that I don’t even let in the house let alone loan them money.

[temeculaguy]

AN, I think the type of purchases today is also causing people to want larger reserves. Most sales are foreclosures, with no warranty. I know I held back an additional chunk of change because I couldn’t turn the water on until after escrow was closed, energizing the main line was a very tense experience, positioning friends and relatives at every sink and bathroom. I accidentally watched Red October on cable a few days before and had nighmares about pipes busting and floods, not to mention my fear of cemented drain pipes that I had read about. It’s like going “all in” before seeing the flop. Most piggies are such planners that it borders on mental illness, spinning the wheel of chance isn’t something we are comfortable with.

I do envy the loyalty that your family has, perhaps it’s cultural or perhaps I just dislike some of my relatives because there a couple that I don’t even let in the house let alone loan them money.

[temeculaguy]

Bob, do you not like FHA loans because you read they were risky or that they look similar to the toxic loans of the past. I can probably help you over those fears. Buyers today are a little freightened and some people are buying properties that need considerable work, two good reasons for FHA’s newfound popularity. They have been making this exact loan for decades, it is not a toxic loan, it often has a fixed rate and payment. People with 30% down are opting for them out of fear, hoping to keep their cash reserves as large as possible and it’s not a bad strategy right now.

3X income is safe, like sdengineer pointed out, the percentage of income to housing debt is low, lower than any underwriting standard now, or in the past. people making 140k buying a 400k house is safe, skin in the game is less than optimal but that’s not the driving force in foreclosures it’s just a factor, adjustable rates, teaser loans, neg ams, stated loans, that is the culprit. Also people today that still make that kind of money are more likely to survive layoffs or pay cuts, there may be more in store but a lot of the fat has already been trimmed or the red flags are there, sure anyone can lose their income at any time in any economy, but at some point you can exhale.

The odds of a 24% income to housing debt ratio person with a solid track record of paying their bills actually has extremely good odds, if it were a game in a casino I’d bet it. Fha has been taking on some of those government assistance to fb programs and those aren’t a safe play for the taxpayer but sdengineer and the op are fine with my tax money. believe it or not, some people still pay their mortgage even if they go upside down, especially when their mortgage is the same as rent because when they look at the big picture, walking away and renting doesn’t look that good on paper for them, they will still have to pay the same amount, this is where houses near rent nuetral become low risk for foreclosure. the repos’s you are seeing happen now are mostly to people looking at entirely different numbers, if they walk away they can rent for half and their payment adjusted up to the point they couldn’t afford it, they aren’t looking at an equity hiccup, they will need a decade to get even and they have no ability to survive the year, they placed an unsustainable bet on appreciation and they were wrong. One the numbers work based on Zero appreciation ever, then it gets my stamp of approval.

BTW SDengineer, good numbers, good contingency plan, you get a gold star, well done!!

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