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To: Sr K who wrote (91137)12/3/2008 6:15:01 PM
From: benwood  Respond to of 116555
 
My house already declined 10%, so another 10% decline by next year would produce the same result, but without a trillion or three of taxpayer money. But it seems a better use of money to make housing as expensive as possible for it somehow, with the use of drugs I think, makes the economy healthier.



To: Sr K who wrote (91137)12/3/2008 6:36:21 PM
From: ajtj99  Respond to of 116555
 
If you add in the likely $325 in taxes and insurance that would need to be escrowed, it ends up being more like a 7.5% reduction.

That's why a lot of the loan workouts will not work. The interest is only one component. The other three components in a typical house payment (taxes, insurance, and principle) do not change.


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