The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: posthumousone who wrote (2014)	3/3/2002 5:27:57 PM
From: Snowshoe	Read Replies (1) of 306849

get a big 30-year mortgage, and never pay it off Have you ever heard the term "negative equity"? That's when you owe $300K on a house that is now worth $200K. It happened to a lot of folks during the last big real estate crash in the eighties. It's impossible to sell the house unless you come up with the extra $100K. And if the bank lets you off the hook, there are circumstances under which the IRS may consider the $100K in relief as taxable income!

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