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To: Perspective who wrote (117057)	8/15/2001 12:08:03 PM
From: TheStockFairy	Read Replies (3) \| Respond to of 436258

That's a different kind of money they are losing, those are payments as opposed to a lump sum. I have been screwing around with one house for the last few months for fun. The price of the house is still in the $350s, down from $393ish the guy financed in 91 for 270,000, then he got a second mortgage for an additional $70k, so he is leveraged to $340,000. I placed a bid on the house for $280 and his realtor wouldn't send it to him. I've posted this info on the residential real estate crash index thread. More info, he just got divorced, his wife (alimony) and 4 kids (child support) still live in the house, he is all moved out. The house needs 70-100k in work done to it, so I figured my price was justified.