March 29, 2008
Taking It Out on the Bank.
I can't imagine doing this.
Comments are disabled.
Post is locked.
I dunno: I'm pretty sure my ex was "upside down" in the mid-90s housing downturn, but he just stuck it out. I guess I see real estate as a "buy and hold" kind of thing.
Maybe not for us; we've only been at the house 11-12 years. But it's way too large for us, and we'll be happier in a smaller place.
Posted by: Attila Girl at
12:37 PM
| Comments (1)
| Add Comment
Post contains 79 words, total size 1 kb.
1
As someone who has never taking out a mortgage I don't get the whole "upside down" thing. Suppose my house's value does drop below how much I still owe on the mortgage yet I'm still making payments. Why would the bank care? They're getting the money they were expecting. Going through foreclosure and repossession is costly so I wouldn't think a bank would want to do it willy-nilly.
Posted by: Sean Hackbarth at March 29, 2008 01:52 PM (w6/NO)
23kb generated in CPU 0.025, elapsed 0.1339 seconds.
209 queries taking 0.1216 seconds, 458 records returned.
Powered by Minx 1.1.6c-pink.
209 queries taking 0.1216 seconds, 458 records returned.
Powered by Minx 1.1.6c-pink.
