WTF, Why are people leaving all this stuff behind?

T Pat · 2008-10-04, 12:47 PM

My stepson lost his house last year, it was a train wreck waiting to happen. I'm still amazed he got a loan and I have to admit I enjoyed saying “I told you so”.
My brother is walking away from his house, he's 50 a foreman for a union drywall contractor that has work lined up for several years, they only work on new schools and prisons.
His wife is 48 employed as a teacher at one of the state prisons for 20+ plus years.
Combined income for the two of them is $250,000, they have put three kids through college and one through beauty college.
Three years ago they sold their house that they had lived in for fifteen years.
Bought an older house on a one acre lot, did a major remodel and their walking away from it, not because of a ARM or having trouble with payments, all of their neighbors had ARM's now it's just not safe anymore 9 out 10 houses in the area are boarded up, the copper thieves are stripping the houses and there are big fucking rats running around he's had a few commit suicide in his swimming pool. It sucks they can't sell the place and their credit will be shot until he's 60.
On a plus note my daughter and son in law are buying (just went into escrow yesterday) and they had no trouble getting a 30 year fixed loan with 20% down.

docholly · 2008-10-04, 05:55 PM

I bought my house here in Vegas in 1992 and paid it off in 1997. I rented it out to my son's godparents when i left vegas in 1998 and they are still living here. When i moved back in 2004, I was thinking I might sell it off "as is" figured I could get about 200K for it. The appraisal was 320K but then i got to thinking where the hell would I live. My friends here were all buying up houses..much bigger, grander and much more expensive than mine.. and now all but 2 have been abandoned/foreclosed.. I am so glad a couple of years ago when i was thinking of getting a home equity loan, I decided to wait until DaDawg left for college and then just unload the whole thing.
the value of my house has fallen from the highest appraisal of 360K in 2006 but the true market rate should be somewhere around 200-215K, which I am perfectly happy with.

2008-10-04, 12:47 PM	#1
T Pat You can now put whatever you want in this space :) Join Date: Aug 2003 Location: Paridise Posts: 3,244	My stepson lost his house last year, it was a train wreck waiting to happen. I'm still amazed he got a loan and I have to admit I enjoyed saying “I told you so”. My brother is walking away from his house, he's 50 a foreman for a union drywall contractor that has work lined up for several years, they only work on new schools and prisons. His wife is 48 employed as a teacher at one of the state prisons for 20+ plus years. Combined income for the two of them is $250,000, they have put three kids through college and one through beauty college. Three years ago they sold their house that they had lived in for fifteen years. Bought an older house on a one acre lot, did a major remodel and their walking away from it, not because of a ARM or having trouble with payments, all of their neighbors had ARM's now it's just not safe anymore 9 out 10 houses in the area are boarded up, the copper thieves are stripping the houses and there are big fucking rats running around he's had a few commit suicide in his swimming pool. It sucks they can't sell the place and their credit will be shot until he's 60. On a plus note my daughter and son in law are buying (just went into escrow yesterday) and they had no trouble getting a 30 year fixed loan with 20% down. __________________ How To Keep An Asshole In Suspense I'll Tell You Later

2008-10-04, 05:55 PM	#2
docholly Nothing funnier than the ridiculous faces you people make mid-coitus Join Date: Aug 2003 Location: Sin-City USA Posts: 4,973	I bought my house here in Vegas in 1992 and paid it off in 1997. I rented it out to my son's godparents when i left vegas in 1998 and they are still living here. When i moved back in 2004, I was thinking I might sell it off "as is" figured I could get about 200K for it. The appraisal was 320K but then i got to thinking where the hell would I live. My friends here were all buying up houses..much bigger, grander and much more expensive than mine.. and now all but 2 have been abandoned/foreclosed.. I am so glad a couple of years ago when i was thinking of getting a home equity loan, I decided to wait until DaDawg left for college and then just unload the whole thing. the value of my house has fallen from the highest appraisal of 360K in 2006 but the true market rate should be somewhere around 200-215K, which I am perfectly happy with. __________________ Support Indie Porn Sites OMGoddess You know you need some Bling!!