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

To: Elroy Jetson who wrote (213352)	7/30/2009 3:21:43 PM
From: Bank Holding Company	Respond to of 306849

crazy...

To: Elroy Jetson who wrote (213352)	7/30/2009 5:05:55 PM
From: marcher	Respond to of 306849

elroy, great example. thanks for posting.

To: Elroy Jetson who wrote (213352)	8/3/2009 6:55:02 PM
From: rich evans	Read Replies (1) \| Respond to of 306849

He has to live somewhere. He should think of it as rental payments with an option to buy. Compare his payments with what he could rent a place for of similar nature. After the 5 years, he can decide what to do depending on the housing market. He could leave, do another loan modification, or if house has gone up, keep it or sell it. Wait and see and rent is the attitude. richard

To: Elroy Jetson who wrote (213352)	8/3/2009 8:35:48 PM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 306849

they are offering 2% interest-only? that's only 7K a yr, not bad rent for a 200K house, or even a 100K house, which is what the place is probably worth. think about it from the "homeowner's" perspective. what is to stop the "owner" from doing the mod for 5yrs, then doing a ruthless default? by that time the 200K house down the street could be selling for 100K. the "owner" could then do a ruthless default, wait another year to get kicked out, then go buy the same house for 100K. mortgages in America are so stupid. the odds are so stacked against the lender and now people will just game them all to death.