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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Tradelite who wrote (63453)	10/7/2006 3:08:21 PM
From: pheilman_	Read Replies (1) \| Respond to of 306849

In this particular case, the owner loses $1,100 per month and your suggestion is that he make it up in volume? ;-) While real estate has been appreciating in the previous decades it has been very beneficial to own rather than rent, but if there is a reversion to the mean the opposite will be true.

To: Tradelite who wrote (63453)	10/7/2006 3:16:44 PM
From: Travis_Bickle	Read Replies (2) \| Respond to of 306849

In the instant case the owner is down $1,100 per month and owes the bank $419k less his down payment. There are two ways, and only two ways, out of that situation: 1. bankruptcy 2. go on a shooting rampage then blow your brains out Any other purported solution relies entirely on the kindness of strangers. The guy screwed up, he is finished. In Florida we have deficiency judgments, there will be no short sale, the bank will foreclose and he will have a lien against him for quite a bit of money.