ECU-ALUM Posted August 9, 2011 Share Posted August 9, 2011 They want another 1.5 billion...why does the phrase "over my dead overtaxed body" come to mind? Link to comment Share on other sites More sharing options...
Thiebear Posted August 9, 2011 Share Posted August 9, 2011 Yes, yes, yes! Why do people think they have some type of "right" to an over-inflated house value? Normally when you buy something with a contract that says This house is worth 600,000. And you find out the contract is complete garbage and the house is worth 265,000. You feel the contract should be RE-negotiated to the actual price and not take the 335,000 hit based on faulty numbers on a document signed by nobody representing the bank itself. I cannot even get my Arm re-adjusted to consolidate into my fixed let alone get the amount itself fixed. So i DONT EVEN WANT TO HEAR its the peoples fault and we should suck it up. If interest rates skyrocket, i'll walk away without a second thought and let my 740cr drop to 540 for 7years along with 5million others. Link to comment Share on other sites More sharing options...
sacase Posted August 11, 2011 Share Posted August 11, 2011 I am sorry for your purchase. Value fluxuates. I remember I was talking to a friend about home prices and everybody was flipping houses I said, there is no way prices can keep going up like they are so fast, it was CRAZY. The value of something is only as much as someone is willing to pay for it. You might have vauled the home at 600000 and at one time that was the actual market value, but in today's economy, it might only be worth 300000, which may be aligned with its true value. Link to comment Share on other sites More sharing options...
HSW Posted August 11, 2011 Share Posted August 11, 2011 Normally when you buy something with a contract that says This house is worth 600,000.And you find out the contract is complete garbage and the house is worth 265,000. You feel the contract should be RE-negotiated to the actual price and not take the 335,000 hit based on faulty numbers on a document signed by nobody representing the bank itself. I cannot even get my Arm re-adjusted to consolidate into my fixed let alone get the amount itself fixed. So i DONT EVEN WANT TO HEAR its the peoples fault and we should suck it up. If interest rates skyrocket, i'll walk away without a second thought and let my 740cr drop to 540 for 7years along with 5million others. I hear this all the time, but nobody was complaining when the market was going through the roof and folks were making a KILLING. Most of the folks who got into trouble were getting ARMs. They were eithor gambling on interest rates or using them to get a house that they could not otherwise afford. Link to comment Share on other sites More sharing options...
Koolblue13 Posted August 11, 2011 Share Posted August 11, 2011 I hear this all the time, but nobody was complaining when the market was going through the roof and folks were making a KILLING. Most of the folks who got into trouble were getting ARMs. They were eithor gambling on interest rates or using them to get a house that they could not otherwise afford. I heard plenty of people talking about how irresponsible the housing market and banks were behaving. Link to comment Share on other sites More sharing options...
Slateman Posted August 11, 2011 Share Posted August 11, 2011 But ... what did they do with the money we gave them ... Link to comment Share on other sites More sharing options...
twa Posted August 14, 2011 Share Posted August 14, 2011 Ready for the second act? The 10 Housing Markets That Will Collapse This Year http://finance.yahoo.com/banking-budgeting/article/113299/housing-markets-collapse-2012-247 Link to comment Share on other sites More sharing options...
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