Tell me why we SHOULDNT foreclose.

Quote Originally Posted by FriedShrimp:

I take that back, you are trying to make a "smart" business decision in the current economic situation.

Kudos to you for thinking about it.  Number one, I see the motivation for moving..... trading up, which is a great idea.  There are good buying opportunities right now.  Call a "reliable" lender and see if you can qualify/afford the trade up though.  "Stated" is gone by the way and down payment is mandatory in this market.  The banking system is fucked up...... and people will blame you for this but you are in the aftershock of it.  It was fucked up by Wall Street.

I'm in the business and will help you later if you really want advice.

Quote Originally Posted by richardtonsj:



It's true that you need some down payment, but "stated" programs still exist, at least in California it does.  I'm in the business also and I know couple of lenders that still offer it.

Quote Originally Posted by Mikael99:

Friedshrimp now you destroyed another thread with your ramblings. For gods sakes, next time sit down, think about what you want to say and compile it in one or two posts.. not 22.

Quote Originally Posted by Mikael99:

Friedshrimp now you destroyed another thread with your ramblings. For gods sakes, next time sit down, think about what you want to say and compile it in one or two posts.. not 22.

Quote Originally Posted by Mikael99:

Friedshrimp now you destroyed another thread with your ramblings. For gods sakes, next time sit down, think about what you want to say and compile it in one or two posts.. not 22.

Quote Originally Posted by Cavs_Lover:

That's the problem these days. Nobody takes responsibility for shit. Go ahead. Just let the bank deal with it.

Don't be thankful you can afford the home and have jobs.


Bunch of greedy bastards.

Man you sound very ignorant...have you ever owned a home?  This guy is only looking out for his and his significant other's best interest..give the guy a break

Quote Originally Posted by rooster010:

Quote Originally Posted by rooster010:

Quote Originally Posted by libra55:

How about you buy the new house...and rent the old one. Have the banks lower your interest payments with both houses with one bank and don't screw your credit up.

Quote Originally Posted by rooster010:

Quote Originally Posted by Mikael99:

Friedshrimp now you destroyed another thread with your ramblings. For gods sakes, next time sit down, think about what you want to say and compile it in one or two posts.. not 22.

Quote Originally Posted by lemonsky:



Says the guy who implies he's perfect and never makes mistakes. Cathartic self-righteous indignation does the soul good.

During the expanding housing market bubble, I heard variations of the same quote, "if I don't buy now, prices are only going to increase within the next year". And looking at the trends from 2002 to 2006, for example, you many understand their concern. I know of several people who took out "traditional loans", making adequate down payments, that after the "market correction", now have negative equity, and while they have the financial wherewithal to continue making payments, they feel justifiably hornswoggled by the banks.

Story after story abounds that financial institutions and their execs knew of the risks they were taking but held little concern because their livelihoods were never threatened. They took chances hoping to hit something akin to a 6-team parlay and get their massive payouts as a result, but if they went bust, it didn't matter. They'd still "earned" some bonuses and had golden parachutes awaiting them.

In the last decade, financial institutions have plundered from the tech sector and the housing market and now have their sights set    on their next scam, the "cap-and-trade" environmental bill that recently passed.

To summarize, banks take risks, businesses take risks, and consumers take risks. But I place the blame for the housing bubble almost entirely on the shoulders of the banks who took advantage of their own arcane knowledge of finance to dupe customers into making rash purchases of value-inflated homes.

FatherFeelMeUp, I don't know the best route for you to go, but you'll never hear the end of it from those who get aroused by wallowing in their inflated sense of moral rectitude.

Quote Originally Posted by TheGoldenGoose:


Well said lemonsky

This is purely a business decision.  You do what you need to do, given your own individual circumstances.

The Moral Police