User ID: jobber99
a house is a 6 or 7 figure investment
seriously, if you can't read through the fine print and realize that your loan will go up in a few years and/or you can't do basic arithmetic to figure out you're getting into more than you can handle, then maybe home buying isn't for you.
User ID: mdram89
I hope you're right
The market is correcting itself after the last few years of wild speculation. It was a pyramid scheme which worked as long as everyone kept buying and writing the loans. Did it make sense when everyone was buying McMansions? Past credit problems soley translated into higher interest rates (higher monthly mortgage payments) for those least able to pay. No documentation loans invited fraud. Add on taxes and insurance and it was doomed to collapse. And where did all that additional tax money go? Layers and layers of waste and theft.
Investors unable to flip became reluctant landlords. Unfortunately, the rent does not cover the expenses. Foreclosures result in special assessments in managed communities which threaten the stable home owners.
Maybe it is a needed wake up call to simplify and enjoy life. Impulsive purchases and buying on credit what we can not afford is not the answer. This over reliance on credit has not stood the test of time.
-------------------------
We could sure use some of that "self correcting"
User ID: Gabbriellea
There's a lot of lessons to learn from this market
Honestly it's life...
The only hope that is left right now is that people learn from what is happening right now.
It's a great time for 1st time homebuyers, and people looking to upgrade to a bigger home or better location,and prices have come down making it more affordable to own.
Everyone is cautious about lending so it won't be so easy if you truly don't have money to pay for a home - but oh for the lucky ones who have waited, saved and make real money- now is the time to take advantage and also help the economy and get these homes sold!
I hope everyone has learned that no one cares about your money like yourself! And learning about how you get to trust someone is another big lesson in life. Good luck to all of those who are trying to sell their homes and get into a better situation, learn from your own mistakes as well as others mistakes! :)
User ID: mdram89
Why are all my lessons...
...taught at the School of Hard Knocks?
User ID: mdram89
RE - There's a lot of lessons to learn from this market
Honestly it's life...
The only hope that is left right now is that people learn from what is happening right now.
It's a great time for 1st time homebuyers, and people looking to upgrade to a bigger home or better location,and prices have come down making it more affordable to own.
Everyone is cautious about lending so it won't be so easy if you truly don't have money to pay for a home - but oh for the lucky ones who have waited, saved and make real money- now is the time to take advantage and also help the economy and get these homes sold!
I hope everyone has learned that no one cares about your money like yourself! And learning about how you get to trust someone is another big lesson in life. Good luck to all of those who are trying to sell their homes and get into a better situation, learn from your own mistakes as well as others mistakes! :)
-------------------------
Thanks, luck it what we need. we are trying to sell a house in another state while we have purchased a house here in Florida.
-------------------------
Be thankful you got into Florida while it's a "Buyer's" market.
User ID: lisai1
RE - Foreclosure help
There is help out there. If you are in or near foreclosure, I can help. Call 456-6301 to get this help. Dave Bohlen, "Foreclosure Consultant".
-------------------------
What area code are you in?
