The Principle of Homes NEED Re-adjusting

What other explanation is there? If you priced it at $1, would it sell? If so, then it is too high for that market. It may have been different six months ago, and it may be different six months from now. But for now, the price is obviously too high.

Tell us, how do you fix the price on a house?

 

Person on the radio claimed that repo'd houses in Atlanta are getting no bids in sheriff's sales. In other words, the property is worth less than the taxes owed on it? Boggles the mind.

 

Earlier in this thread you responded that you were not upside down in your mortgage. Now you say you are upside down in your mortgage. Either you are or you aren't. Which is it?

I still don't understand wha the problem is. You bought a house and you agreed to a price. Just because the value of the home decreased doesn't mean that you don't still have your "piece of the American dream". Does the value of your property falling mean that you have to move out? No, it doesn't. So, keep paying your mortgage and keep your "piece of the American dream".

 

I have looked and looked could you please tell me where the Bible says that gold would be the only thing of value in these end times???

 

I guess I don't get how you were taken advantage of. Were you lied to about the terms of your loan? Did the bank pull the old switcheroo right at the time you signed the mortgage papers? Like, maybe in this scene.

*dissolve to re-enactment of rd2 signing mortgage papers*

rd2 ready to sign mortgage papers.

Banker: What in the world can that be?
[Banker gestures up and away from the table. rd2 looks. Banker switches mortgage papers.]

rd2: What? Where? I don't see anything.

Banker: Well, I- I could have sworn I saw something. No matter. First, let's sign. Me on my papers, and you on yours.

rd2 and Banker sign papers and Banker starts to chuckle.

rd2: What's so funny?

Banker: I'll tell you in a minute.

Once both are finished, Banker starts laughing.

Banker: Here's what's so funny! I switched papers when your back was turned! Ha ha! You fool! You fell victim to one of the classic blunders! The most famous is never get in a land war in Asia, but only slightly less well-known is this: never go in against a banker when Money in the line! Ha ha ha ha ha!!!

*dissolve away from scene*

I'm pretty sure this didn't happen to you.

Feel free to cast all the stones at me you want, but I fail to see what was unfair.

 

First, as a believer, why are you pursuing the American dream? Second, you paid the asking price. That was your choice. No one took advantage of you. You had a lot of other options. You could have bought a smaller house, bought it in a different location, or rented (and let someone else "get taken advantage of"). Third, you are only underwater on paper. If you don't try to sell your house, you haven't lost anything yet.

I will gladly trade you your house for the paper that your loan is printed on. Tell me where to sign. And I promise never to complain that you took advantage of me.

The greed of a few? What about your own role? You chose the house you bought. You chose the price you paid for it. You were not under the influence of drugs or alcohol I presume that would have impaired your judgment. How can you blame everyone else?

I can blame others because I didn't make bad choices with my money in investing, I didn't buy a house, etc. But you willingly chose to buy the house.

Who took advantage of you?

 

Look, play the victim all you want. The fact still remains: It is not the Government's job to protect us from all things negative.

On the one hand, you lament the government's involvement in our daily life (when it comes to religion, abortion, etc.)

On the other, you want the government to step in and alleviate all things unpleasant. (Help us out! We're upside down on our homes!)

Please pick one.

 

Once again, please show me the Constitutional Right to Appreciating Property.

Furthermore, I don't know your source, but I have a friend who's buying up properties right and left in the Atlanta area.

Sounds like you're listening to "news with an agenda."

 

News flash: Our national motto has been changed from "E pluribus unum" to "It isn't my fault!"


Sad.

 

I suppose Atlanta has good and bad neighborhoods same as every city. Still boggles my mind that a city residential building lot could be worth less than the taxes owed on it.

Everybody gots to sleep someplace. Doesn't matter if your house is upside down if you want to sleep there and can make the payments. If you can get a better deal some place else - all things considered - give it to the bank and walk away.

 

You have to consider the taxes, the location, the condition, etc. In my neighborhood there are places that you can buy free and clear for less than $10,000 (a 2000+ sq ft house in move in condition sold last month for $9000; another house in the 1700 sq ft range sold for less than $5000 two weeks ago). But the taxes are north of $5000 a year. For the same taxes, and a little more money, you can get a house in a better community. So why would you buy one here?

 

$25,000. was not 20% of $325K. So, IOW, he bought more house than he could afford, just like so many did. Why is that the fault of those of use who did plunk 20% on what we could afford? Sure, we would have liked to have a $325K house instead of the $125K house, but the 125K house is what we could afford. It was greed on your friend's part for buying something beyond his means, greed on the bank's part for not verifying income and for not making the loan according to standard tried and true guidelines such as income eligibility and documenting it. Sorry, I just can't feel pity in this instance.