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Post by boom on Jul 21, 2009 11:10:43 GMT -8
I think a lot chose to foreclose cause it didn't make since to pay that much for it anymore.
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Post by briarduck on Jul 21, 2009 11:11:40 GMT -8
Things way to nuts with the crazy programs! Not so bad hear I would guess but in LA where prices are so much higher people were buying homes on 1/2/3 year interest only and now are in foreclosure, they had no idea their $3000 a month payment would jump to 7k or 8k...very sad! that and they probably lost 30-40% of the value YUP...but if they can hang on they will get most of it back IMO |
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Post by boom on Jul 21, 2009 11:12:21 GMT -8
my wife works in commercial lending
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Post by boom on Jul 21, 2009 11:12:45 GMT -8
she gets a nice monthly report
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Post by briarduck on Jul 21, 2009 11:13:32 GMT -8
I think a lot chose to foreclose cause it didn't make since to pay that much for it anymore. In certain markets sure but in others there was no choice when your payment doubles and triples. I agree in some cases its the better choice to just walk away and lesson learned... |
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Post by boom on Jul 21, 2009 11:13:56 GMT -8
that and they probably lost 30-40% of the value YUP...but if they can hang on they will get most of it back IMO It's going to take awhile. |
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Post by briarduck on Jul 21, 2009 11:14:44 GMT -8
my wife works in commercial lending Commercial and residential are different markets but thats cetainy handy to have that knowledge. |
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Post by briarduck on Jul 21, 2009 11:15:23 GMT -8
YUP...but if they can hang on they will get most of it back IMO It's going to take awhile. Oh ya...I'm just too optimistic for my own good! ;D |
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Post by boom on Jul 21, 2009 11:15:51 GMT -8
ya, she gets a report on both
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Post by boom on Jul 21, 2009 11:16:16 GMT -8
It's going to take awhile. Oh ya...I'm just too optimistic for my own good! ;D thats the agent in you ;D |
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Post by boom on Jul 21, 2009 11:16:50 GMT -8
My brother in law is the same way
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Post by boom on Jul 21, 2009 11:17:09 GMT -8
he's an agent in eugene
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Post by boom on Jul 21, 2009 11:17:55 GMT -8
over 400 posts now
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Post by boom on Jul 21, 2009 11:18:14 GMT -8
need to double it
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Post by briarduck on Jul 21, 2009 11:18:51 GMT -8
When you work it every day you get that way...I don't know how you would survive as an pessimist.
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