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Politics : Formerly About Advanced Micro Devices
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To: bentway who wrote (442263)12/23/2008 7:27:13 PM
From: tejek  Read Replies (1) of 1576887
 
Ted, the guy is just pointing out that leaving the keys in the mailbox and walking is a much better option than accepting the terms of these Fannie/Freddie workouts, which seem to entirely benefit Fannie/Freddie. I realize you and Ten have bought your houses with extremely unfortunate timing, but if you work the numbers dispassionately, it's indisputable that both of YOU would be better off walking away from your homes, after living in them for maybe six months without paying and stringing your mortgage co. along.

That's where you are wrong. First of all, I negotiated a really good deal on my house. So I may not upside down even now. Secondly, Seattle homes don't necessarily boom like CA's but they don't depreciate either. Seattle has very little room in which to grow for a number of reasons. To walk away from my house would be stupid. And ten isn't fukked either......he's not upside down that much if at all. I read somewhere that LA prices are back to 2005 prices. I think Ten bought in 2004.

As for Fannie Mae, they are giving these people an interest rate they can afford. No other lender will do that for them. That's huge. Its there only shot pretty much at owning.

You were fukked. Fukk 'em BACK, in the only way available.

I wasn't fukked. I knew the risk I was running.....that's why I negotiated a good price. People are walking because they afford to make the payments. They will stay if they can make those payments.
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