DUH!!..69% Say Those Struggling With Mortgage Should Sell, Buy Cheaper Home

[healthmyths]

Thursday, March 22, 2012

While most Americans agree now is not the best time to sell a home, they feel stronger than ever that those struggling to pay their mortgage should sell their home and buy a cheaper one rather than receive help from the government.
69% Say Those Struggling With Mortgage Should Sell, Buy Cheaper Home - Rasmussen Reports™

Almost 70% think logically that DUH.. if you are living in a home you can't afford..
SELL IT!!!!!

 

[Old Rocks]

Oh Lordy, again, someone with absolutely no knowledge of the current situation in the housing market. Most of the homes that people can no longer afford because of one or both of the homeowners losing their jobs, cannot be sold for what is owed against them. So they will not be buying another home, they will be trying to find something cheap to rent.

The number of people going from homeowners to renters in this market is a sad reflection on who pays the price for the greed of the very wealthy.

 

[iamwhatiseem]

It is not that simple.
Many of those people are underwater in their mortgage.
Many of these folks were stupid enough to take out 2nd mortgages to put in a pool, or build a super deck or turn the basement into a very expensive home theater.
They may owe $375k but the value is $280k...where the heck are these people going to get $10,000's to pay the difference? Many of them are only paying interest payments.

 

[The Rabbi]

It is not that simple.
Many of those people are underwater in their mortgage.
Many of these folks were stupid enough to take out 2nd mortgages to put in a pool, or build a super deck or turn the basement into a very expensive home theater.
They may owe $375k but the value is $280k...where the heck are these people going to get $10,000's to pay the difference? Many of them are only paying interest payments.

Geezus. No wonder this country is screwed.
It's called bankruptcy. You can't pay your debts, you bankrupt. In some states even that isn't necessary. Just send the keys to the lender (jingle mail) and you're done. Most people end up renting as nice houses for less money than they were paying in mortgage payments.
Another example of a wasteful governmental program.

 

[Old Rocks]

The properties I own have dropped in value significantly. While I am not underwater, I have lost 50% of the equity than I had in 2007. Those that borrowed against their property in the first years of this century are definately in a hurting position.

 

[Old Rocks]

It is not that simple.
Many of those people are underwater in their mortgage.
Many of these folks were stupid enough to take out 2nd mortgages to put in a pool, or build a super deck or turn the basement into a very expensive home theater.
They may owe $375k but the value is $280k...where the heck are these people going to get $10,000's to pay the difference? Many of them are only paying interest payments.

Geezus. No wonder this country is screwed.
It's called bankruptcy. You can't pay your debts, you bankrupt. In some states even that isn't necessary. Just send the keys to the lender (jingle mail) and you're done. Most people end up renting as nice houses for less money than they were paying in mortgage payments.
Another example of a wasteful governmental program.

Attitudes like that are why the blue states have a much better credit rating than the red states. You 'Conservatives' preach accountability, but do not practice it. Yep, just run out on your debts. Whether or not you still have a job. Makes perfect sense. To a 'Conservative'.

 

[Remodeling Maidiac]

My partners ex girlfriend is upsidedown in her house. Can't sell it and is struggling to stay in it. Selling isn't an option.

It's easy to judge someone else's bad scenario when were not experiencing it.

 

[OohPooPahDoo]

thursday, march 22, 2012

while most americans agree now is not the best time to sell a home, they feel stronger than ever that those struggling to pay their mortgage should sell their home and buy a cheaper one rather than receive help from the government.
69% say those struggling with mortgage should sell, buy cheaper home - rasmussen reports™

almost 70% think logically that duh.. If you are living in a home you can't afford..
Sell it!!!!!

you can not sell it if no one is willing to buy it, genius

 

[naturegirl]

I know lots of folks that have bought a second home because they couldn't afford the first one. The buy before the foreclosure is on their record.

Guess what, they are lefties and rights alike..........they could still be held responsible for the difference in the mortgage and the selling prices, thus the bankruptcy.

The government programs are a waste of time and money, few qualify and if they do, they have to jump through hoops to save a couple of dollars a month.

The American people are not as stupid as our Chief Blamer thinks.

 

[Old Rocks]

I am shopping for a home where I will retire. I am seeing homes that were built in the 80's going for less than the cost of building them at that time. Many good people are taking a real bath on a situation they did not create. Really, really sad.

 

[The Rabbi]

It is not that simple.
Many of those people are underwater in their mortgage.
Many of these folks were stupid enough to take out 2nd mortgages to put in a pool, or build a super deck or turn the basement into a very expensive home theater.
They may owe $375k but the value is $280k...where the heck are these people going to get $10,000's to pay the difference? Many of them are only paying interest payments.

Geezus. No wonder this country is screwed.
It's called bankruptcy. You can't pay your debts, you bankrupt. In some states even that isn't necessary. Just send the keys to the lender (jingle mail) and you're done. Most people end up renting as nice houses for less money than they were paying in mortgage payments.
Another example of a wasteful governmental program.

Attitudes like that are why the blue states have a much better credit rating than the red states. You 'Conservatives' preach accountability, but do not practice it. Yep, just run out on your debts. Whether or not you still have a job. Makes perfect sense. To a 'Conservative'.

No, blue states just cry for gov't handouts. Do you want to bankrput and cost the bank money or take handouts and cost everyone money?
If you cant pay your debts, you bankrupt. That's what it's there for. Not handing out money from the gov't for people who made bad deciisions.

 

[The Rabbi]

thursday, march 22, 2012

while most americans agree now is not the best time to sell a home, they feel stronger than ever that those struggling to pay their mortgage should sell their home and buy a cheaper one rather than receive help from the government.
69% say those struggling with mortgage should sell, buy cheaper home - rasmussen reports™

almost 70% think logically that duh.. If you are living in a home you can't afford..
Sell it!!!!!

you can not sell it if no one is willing to buy it, genius

Oh big type. That mus tbe correct then.
There is a market price for every property. Price it right and it will sell.

 

[syrenn]

Oh Lordy, again, someone with absolutely no knowledge of the current situation in the housing market. Most of the homes that people can no longer afford because of one or both of the homeowners losing their jobs, cannot be sold for what is owed against them. So they will not be buying another home, they will be trying to find something cheap to rent.

The number of people going from homeowners to renters in this market is a sad reflection on who pays the price for the greed of the very wealthy.

It makes NO difference if they lost a job or jobs.

If you cant afford the mortgage.....sell it and get something you CAN afford.


The world does not owe anyone anything.

 

[syrenn]

It is not that simple.
Many of those people are underwater in their mortgage.
Many of these folks were stupid enough to take out 2nd mortgages to put in a pool, or build a super deck or turn the basement into a very expensive home theater.
They may owe $375k but the value is $280k...where the heck are these people going to get $10,000's to pay the difference? Many of them are only paying interest payments.

Damn... that wanting more then you can afford sucks.

 

[Soggy in NOLA]

Oh Lordy, again, someone with absolutely no knowledge of the current situation in the housing market. Most of the homes that people can no longer afford because of one or both of the homeowners losing their jobs, cannot be sold for what is owed against them. So they will not be buying another home, they will be trying to find something cheap to rent.

The number of people going from homeowners to renters in this market is a sad reflection on who pays the price for the greed of the very wealthy.

How colossally stupid...

 

[healthmyths]

It is not that simple.
Many of those people are underwater in their mortgage.
Many of these folks were stupid enough to take out 2nd mortgages to put in a pool, or build a super deck or turn the basement into a very expensive home theater.
They may owe $375k but the value is $280k...where the heck are these people going to get $10,000's to pay the difference? Many of them are only paying interest payments.

Geezus. No wonder this country is screwed.
It's called bankruptcy. You can't pay your debts, you bankrupt. In some states even that isn't necessary. Just send the keys to the lender (jingle mail) and you're done. Most people end up renting as nice houses for less money than they were paying in mortgage payments.
Another example of a wasteful governmental program.

Attitudes like that are why the blue states have a much better credit rating than the red states.????? You 'Conservatives' preach accountability, but do not practice it. Yep, just run out on your debts. Whether or not you still have a job. Makes perfect sense. To a 'Conservative'.

FACTS: Credit ratings Red states BETTER then Blue!!!

States that voted Republican in the 2008 election are doing better than those that voted Democratic, according to a recent study that uses credit score data as a measure of household financial health.
he answer? In this tough economic environment, red state credit scores have held up better. On average, credit scores in blue states have declined by 0.58% over the past four years, compared with a 0.19% decline for credit scores in red states.
Red states' credit beats the blues' - credit scores & politics - MSN Money

 

[Dragon]

It makes NO difference if they lost a job or jobs.

If you cant afford the mortgage.....sell it and get something you CAN afford.


The world does not owe anyone anything. [/COLOR]

Wrong question. The right question is, CAN they sell it for enough to pay off the mortgage, and so be ABLE to buy something cheaper? (You know, questions about what is POSSIBLE have to be answered before you can decide which, among possible actions, is the RIGHT thing to do. If something can't be done, it's obviously not the right thing to do.)

 

[syrenn]

The properties I own have dropped in value significantly. While I am not underwater, I have lost 50% of the equity than I had in 2007. Those that borrowed against their property in the first years of this century are definately in a hurting position.

Its called ...the bubble burst. The mad scramble of overbidding is over. The bullshit of borrowing more then you need for the mortgage is over. Buying property and carrying mortgages is a gamble. It always has been and always will be.

 

[syrenn]

It makes NO difference if they lost a job or jobs.

If you cant afford the mortgage.....sell it and get something you CAN afford.


The world does not owe anyone anything. [/COLOR]

Wrong question. The right question is, CAN they sell it for enough to pay off the mortgage, and so be ABLE to buy something cheaper? (You know, questions about what is POSSIBLE have to be answered before you can decide which, among possible actions, is the RIGHT thing to do. If something can't be done, it's obviously not the right thing to do.)

Again... the bottom line is that they cannot afford the mortgage they are carrying.

 

[Soggy in NOLA]

The properties I own have dropped in value significantly. While I am not underwater, I have lost 50% of the equity than I had in 2007. Those that borrowed against their property in the first years of this century are definately in a hurting position.

Its called ...the bubble burst. The mad scramble of overbidding is over. The bullshit of borrowing more then you need for the mortgage is over. Buying property and carrying mortgages is a gamble. It always has been and always will be.

You must understand the mindset of a leftist.... rewards without risk... risks without consequences....