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: Smiling Bob who wrote (166938)	11/24/2008 5:14:58 PM
From: MulhollandDrive	Read Replies (2) of 306849

the best approach is to just let the house go into foreclosure, it will get bot by investors and if purchased at a deep discount, those houses can be turned into affordable rental units it's cruel to hold out a carrot to a poor person who is underwater (and will get more so) to take a loan mod, keep making payments (money down the rat hole) and eventually default anyway they're better off to walk away now, find much cheaper rent, and within a couple of years be able to purchase a home at a much more reasonable price....only then will they have a chance of actually have room for price appreciation and raising their net worth and standard of living

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