Are you losing your house due to job loss or interest reseting ?

[ProgMatinee]

i'm refinancing tomorrow actually. should decrease my mortgage payments by $100. interest rates are the lowest they have ever been in ages.

how much are you paying in closing costs (or how much are they adding to the back end of your loan?)

saving $100 doesn't really seem that much if you're going to be paying $4000 for closing for example.

i'm at 6% and have been since 2003, but I hesitate to refinance down to 5% just because I don't know if I'll be in the home long enough to recoup the closing costs.

 

[jonny88]

Not only that, but $1,000,000 loans were being given out with 0% down AND no income verification...so you could be a janitor and you would be approved. Glad this nonsense is done with.

And these mortgage people who approved it still want their jobs and want to "fix" it.........seems idiotic to keep these people if you ask me

WOW. that pretty bad. here now you need lots down and the bank wont give you the rest in less they have your finance records to show you can make the mortgage payments. if the records show you will just barely make the payments you may not be approved. l guess its a good thing in the end. it just makes your first house purchase very hard because you need to come up with so much money. l should of bought a house several years ago.

 

[IrishJedi]

I once mulled the idea of just walking away from my mortgage on purpose, because I've grown tired of paying for a 6 bedroom, 3440 sq ft house (plus, a full basement that I started to finish) that I live in alone. Just seems like such a waste. And the practical side of me is going insane. I can't sell it in the current market/economy without losing tens of thousands. So it's either stick it out, or just walk away and say "F U" to the bank (and my credit, of course).

I also want to move out of Georgia. But I guess I'm staying put, for now. But it DOES suck out there. A good friend lost his house a couple of months ago and is now in an apartment, and there are Foreclosure sales all around the place.

 

[wofford29]

I once mulled the idea of just walking away from my house on purpose, because I've grown tired of paying for a 6 bedroom, 3440 sq ft house (plus, a full basement that I started to finish) that I live in alone. Just seems like such a waste. And the practical side of me is going insane. I can't sell it in the current market/economy without losing tens of thousands. So it's either stick it out, or just walk away and say "F U" to the bank (and my credit, of course).

I also want to move out of Georgia. But I guess I'm staying put, for now. But it DOES suck out there. A good friend lost his house a couple of months ago and is now in an apartment, and there are Foreclosure sales all around the place.

Sounds a lot like my situtation minus the basement and leaving GA. I'm trying to modify and pull my wifes name off the loan so that one of us would still have 800 credit if we do walk away. We're both young still so we'd have plenty of time to recover, but I'm not sure my pride will let me do it.

 

[King Darkness]

I once mulled the idea of just walking away from my mortgage on purpose, because I've grown tired of paying for a 26 bedroom, 34,400 sq ft house (plus, a full basement with equipments) that I live in alone. Just seems like such a waste. And the practical side of me is going insane. I can't sell it in the current market/economy without losing hundreds of thousands. But I am to rich to really care so I say "F U" to poor people.

 

[IrishJedi]

Sounds a lot like my situtation minus the basement and leaving GA. I'm trying to modify and pull my wifes name off the loan so that one of us would still have 800 credit if we do walk away. We're both young still so we'd have plenty of time to recover, but I'm not sure my pride will let me do it.

Yeah, pretty much the same here... except my name is now the only one on the mortgage and the deed (which is bad, and good... and bad ).

I once mulled the idea of just walking away from my mortgage on purpose, because I've grown tired of paying for a 26 bedroom, 34,400 sq ft house (plus, a full basement with equipments) that I live in alone. Just seems like such a waste. And the practical side of me is going insane. I can't sell it in the current market/economy without losing hundreds of thousands. But I am to rich to really care so I say F U poor people.

There are no poor people in here. Unless they collect Sideshow and Hot Toys stuff instead of eating.

 

[IrishJedi]

BTW, my basement is not being finished to store my equipments. I just need room put all of the names I've dropped in the past.

 

[darthviper107]

That's one reason I want to stay in Texas. The economy here might be the best in the country at the moment. Cost of living isn't very high. And home prices have always been pretty reasonable. For instance, where I live it's pretty much housing developments everywhere, and while I'm sure there are lots of people who really couldn't afford a house, at least the houses weren't ever that expensive.

 

[ymba]

Guys

I am not losing my home but like everyone else who bought in on the hype, I bought a 2nd property in vegas which is now worth as much as 2 of my Enterbay figures.

I don't need to give it back to the bank but it still a downer to see I have a negative each month because the rent does not nearly cover the payments

Hope the sun will shine once again

YMBA!

 

[jonny88]

Guys

I am not losing my home but like everyone else who bought in on the hype, I bought a 2nd property in vegas which is now worth as much as 2 of my Enterbay figures.

I don't need to give it back to the bank but it still a downer to see I have a negative each month because the rent does not nearly cover the payments

Hope the sun will shine once again

YMBA!

ya that is bad.its good for the rich people though who then go and buy up the cheap houses. l head there are really nice apartments in vegas for like $60,000 .

 

[Webb]

Renting right now 2 bedroom,parking space everything included ( Heat/AC/Water/Gas etc...) in MA for $1.170,00

No kids here,see where this goes before,making a decision.

 

[barryo]

I once mulled the idea of just walking away from my mortgage on purpose, because I've grown tired of paying for a 6 bedroom, 3440 sq ft house (plus, a full basement that I started to finish) that I live in alone. Just seems like such a waste. And the practical side of me is going insane. I can't sell it in the current market/economy without losing tens of thousands. So it's either stick it out, or just walk away and say "F U" to the bank (and my credit, of course).

I also want to move out of Georgia. But I guess I'm staying put, for now. But it DOES suck out there. A good friend lost his house a couple of months ago and is now in an apartment, and there are Foreclosure sales all around the place.

sounds like this would be a perfect opportunity for a room mate..............charge him $50 less than his apartment costs.............

 

[Josette]

I just bought my house so this stuff scares the crap out of me. However, if I can't afford my mortgage I wouldn't be able to pay rent either so I would be homeless.

Same for me. Rent wouldn't be cheaper in my case.

 

[wofford29]

If I wasn't currently back in school and could add the extra money to my wifes income I'd be buying a couple houses in this market. A $600,000 home near me just sold for $250,000 a few months back. When this market corrects, some people will be set.

 

[ChrisCJ99]

I'm just hoping the rates don't skyrocket within the next few years..... My student loans will get UGLY if they do

 

[The Ween]

sounds like this would be a perfect opportunity for a room mate..............charge him $50 less than his apartment costs.............

Hmmmmm.......I've already been offered work in the Atlanta area.

 

[IrishJedi]

sounds like this would be a perfect opportunity for a room mate..............charge him $50 less than his apartment costs.............

I couldn't live with this particular friend.

 

[IrishJedi]

Hmmmmm.......I've already been offered work in the Atlanta area.

Now THAT I might consider.

 

[barryo]

Hmmmmm.......I've already been offered work in the Atlanta area.

Now THAT I might consider.

what do i have to do to put you two in a relationship today.???

HIGH FIVE ........

 

[IrishJedi]

Relationship? No. Roommates. A GF would be staying here rent-free.