Las Vegas leads the pack. I think this chart is not accurate, though. I think the ratio is far greater than 119% property/mortgage debt. Just two years ago, we were $170,000 underwater on a $300,000 mortgage. We were not the odd man out, either.
No, sir. They are not jealous, nor do they want your damn Cadillac. Also, it is not always the citizen’s fault that they are not rich or have a job. Why don’t you go get a real job?
No, Steve Jobs brought us Apple. Our American system enabled its success, just as its corruption enabled the housing bubble and the chaos that has followed.
Check out NegativeCreditline when you get a chance. It’s a new site I’m developing along the lines of BrokenCredit. More soon!
What’s surprising about this being news is that it’s news. When we went through our personal housing crisis over two years ago, this was readily apparent. Even when our 2nd mortgage sold it to another company at a discount, the 2nd company refused to even consider lowering our interest rate. Their loss, in the end.
What say you? If they were given the title of a “state,” would they then be held accountable for their terror?
Broken Credit has a new question up about short sales and credit scores. Paul answers the question as I would. Also, from personal experience I can tell you that “my” score (actually FICO’s score on me) suffered a 100 point loss in the end. More to the point of the question, IMHO I don’t believe the vast majority of banks out there (99%) will allow a short sale with payments being current. I know one – exactly one – guy who tells me he was able to do this (no disrespect but I’m not sure I believe him).
UPDATE: I now know two guys who were able to short sale without being delinquent. The second homeowner was able to do so because he had a VA loan and they cover the difference between the market value and original loan.
