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nycll
- Geeky member
posted: Aug. 10, 2008 @ 9:06p
Rajjeq said:Imagine you went 0% down on a $500k house in CA, now worth $250k, in a way out suburb. You can afford to keep paying. Is there anyone here, despite all the talk of morals, who can seriously say they wouldn't at least strongly consider walking? I imagine most people would.Fortunately (maybe unfortunate to the tax payers), one now has a better alternative made possible by the housing bill. It requires over 31% DTI which most CA loans would qualify. |
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Dealguy123
- Senior Member - 2K
posted: Aug. 11, 2008 @ 12:05a
qcumber98 said:I'm in CA and according to Zillow, I'm down $50K since I bought my condo two years ago. I've already paid off the second loan ($18K) and $15K on the principal. I'm not panicking. Just as a heads up for anyone that uses Zillow.. Some of their estimated home values are WAAY off, and some are spot on. The best way is to use comps and recent sales vs. zillow. For example.. I know someone with a condo that has a value of $370 according to zillow (was purchased for just over $400k). Well, the IDENTICAL condos in the same development are selling for ~$200k. Just a heads up is all. Good luck. |
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