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Newsjock (1000+ posts) Send PM | Profile | Ignore | Wed Aug-05-09 05:46 PM Original message |
About half of U.S. mortgages seen underwater by 2011 |
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Demeter (1000+ posts) Send PM | Profile | Ignore | Wed Aug-05-09 05:52 PM Response to Original message |
1. Well, That's Just Lovely |
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glinda (1000+ posts) Send PM | Profile | Ignore | Wed Aug-05-09 10:54 PM Response to Reply #1 |
14. LMAO! Your response summed up my feelings exactly. |
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pnwmom (1000+ posts) Send PM | Profile | Ignore | Wed Aug-05-09 06:19 PM Response to Original message |
2. If they don't have to sell their houses, it won't matter. |
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FarCenter (1000+ posts) Send PM | Profile | Ignore | Wed Aug-05-09 06:48 PM Response to Reply #2 |
3. In quite a few states, a homeowner who is underwater can just walk away from the property |
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pnwmom (1000+ posts) Send PM | Profile | Ignore | Wed Aug-05-09 07:18 PM Response to Reply #3 |
4. Interesting. I didn't know that. nt |
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JDPriestly (1000+ posts) Send PM | Profile | Ignore | Wed Aug-05-09 10:21 PM Response to Reply #3 |
9. And by some miracle, that "Depression legislation" was never repealed. |
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WriteDown (1000+ posts) Send PM | Profile | Ignore | Wed Aug-05-09 10:46 PM Response to Reply #9 |
12. What if you take a home equity boat and buy a boat... |
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JDPriestly (1000+ posts) Send PM | Profile | Ignore | Thu Aug-06-09 02:58 AM Response to Reply #12 |
15. What are you talking about? I don't understand your question. |
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WriteDown (1000+ posts) Send PM | Profile | Ignore | Thu Aug-06-09 08:18 AM Response to Reply #15 |
16. Sorry... |
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JDPriestly (1000+ posts) Send PM | Profile | Ignore | Thu Aug-06-09 11:52 AM Response to Reply #16 |
21. It's up to the bank to figure before it loans you money what its risk will be if it lends to you. |
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WriteDown (1000+ posts) Send PM | Profile | Ignore | Thu Aug-06-09 11:56 AM Response to Reply #21 |
22. A lot of fallacies here. |
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JDPriestly (1000+ posts) Send PM | Profile | Ignore | Thu Aug-06-09 10:16 PM Response to Reply #22 |
30. I assure you, the poor do not cause booms or busts. |
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FarCenter (1000+ posts) Send PM | Profile | Ignore | Thu Aug-06-09 12:08 PM Response to Reply #9 |
23. After finding out about "non-recourse" mortgages |
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dixiegrrrrl (1000+ posts) Send PM | Profile | Ignore | Thu Aug-06-09 06:57 PM Response to Reply #23 |
28. The bank DID mis-represent, and the rating companies have been charged |
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WriteDown (1000+ posts) Send PM | Profile | Ignore | Wed Aug-05-09 10:45 PM Response to Reply #3 |
11. Not all states allow you to avoid the tax burden though... |
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PassingFair (1000+ posts) Send PM | Profile | Ignore | Thu Aug-06-09 08:44 AM Response to Reply #3 |
18. But the difference is still taxed, yes? |
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slackmaster (1000+ posts) Send PM | Profile | Ignore | Thu Aug-06-09 08:59 AM Response to Reply #18 |
19. I believe property tax is appealable in all states |
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PassingFair (1000+ posts) Send PM | Profile | Ignore | Thu Aug-06-09 09:04 AM Response to Reply #19 |
20. I'm talking about owing tax on a "short sale". |
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FarCenter (1000+ posts) Send PM | Profile | Ignore | Thu Aug-06-09 12:12 PM Response to Reply #18 |
24. Because the forgiven deficiency is taxed as income, that is an incentive to walk away sooner |
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WriteDown (1000+ posts) Send PM | Profile | Ignore | Thu Aug-06-09 12:16 PM Response to Reply #24 |
25. Same with your car... |
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FarCenter (1000+ posts) Send PM | Profile | Ignore | Thu Aug-06-09 03:05 PM Response to Reply #25 |
26. With an auto loan, the lender can come after your assets and income |
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WriteDown (1000+ posts) Send PM | Profile | Ignore | Thu Aug-06-09 05:55 PM Response to Reply #26 |
27. The same can be done with a mortgage in many states.. |
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FarCenter (1000+ posts) Send PM | Profile | Ignore | Thu Aug-06-09 09:01 PM Response to Reply #27 |
29. Correct, but the states of CA, AZ, NV and FL are "non-recourse" mortgage states |
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PassingFair (1000+ posts) Send PM | Profile | Ignore | Thu Aug-06-09 08:42 AM Response to Reply #2 |
17. If you lose your job, you will likely lose your house. |
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quaker bill (1000+ posts) Send PM | Profile | Ignore | Wed Aug-05-09 07:53 PM Response to Original message |
5. I am not sure I buy this |
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FreakinDJ (1000+ posts) Send PM | Profile | Ignore | Wed Aug-05-09 08:19 PM Response to Original message |
6. I beleive the "Economic Doom & Gloomers" less each day |
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tridim (1000+ posts) Send PM | Profile | Ignore | Wed Aug-05-09 08:40 PM Response to Original message |
7. It feels like prison. |
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WriteDown (1000+ posts) Send PM | Profile | Ignore | Wed Aug-05-09 10:47 PM Response to Reply #7 |
13. You're not underwater until you sell... |
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spooky3 (1000+ posts) Send PM | Profile | Ignore | Wed Aug-05-09 08:45 PM Response to Original message |
8. First sentence of the article is misleading. |
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Blandocyte (830 posts) Send PM | Profile | Ignore | Wed Aug-05-09 10:40 PM Response to Original message |
10. Eff them and their crystal ball |
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DU AdBot (1000+ posts) | Thu May 02nd 2024, 03:44 AM Response to Original message |
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