Comments on: Waves Of Short Sales Here http://www.debtkid.com/waves-of-short-sales-starting Get Out of Debt @ DebtKid.com Fri, 19 Mar 2010 23:42:33 -0700 http://wordpress.org/?v=2.9.2 hourly 1 By: Shawn Ward http://www.debtkid.com/waves-of-short-sales-starting/comment-page-1#comment-4379 Shawn Ward Sat, 01 Dec 2007 03:07:59 +0000 http://www.debtkid.com/waves-of-short-sales-starting#comment-4379 I have disagree with Jim on this one. The housing market is in terrible shape ~ and it won't turn around anytime soon. 50% of all houses purchased in the last three years were bought with with a downpayment of 5% or less. With houses down 10% all of theses houses are underwater. These home owners will not be able to re-fi or sell their house if something goes wrong. That spells DANGER!! DK, glad you were able to short sell when you could - it's going to get real ugly... I have disagree with Jim on this one.

The housing market is in terrible shape ~ and it won’t turn around anytime soon. 50% of all houses purchased in the last three years were bought with with a downpayment of 5% or less. With houses down 10% all of theses houses are underwater. These home owners will not be able to re-fi or sell their house if something goes wrong. That spells DANGER!! DK, glad you were able to short sell when you could – it’s going to get real ugly…

]]> By: s http://www.debtkid.com/waves-of-short-sales-starting/comment-page-1#comment-4354 s Thu, 29 Nov 2007 23:45:46 +0000 http://www.debtkid.com/waves-of-short-sales-starting#comment-4354 Wow, the media trying to make the economy sound worse off that it is. I guess it depends on how you judge the economy, I'd offer a wager about it except I've already taken one via my "avoid the US" investment choices... Wow, the media trying to make the economy sound worse off that it is.

I guess it depends on how you judge the economy, I’d offer a wager about it except I’ve already taken one via my “avoid the US” investment choices…

]]> By: Jim http://www.debtkid.com/waves-of-short-sales-starting/comment-page-1#comment-4351 Jim Thu, 29 Nov 2007 16:03:37 +0000 http://www.debtkid.com/waves-of-short-sales-starting#comment-4351 DK you know that people resort to short sale to avoid foreclosure because they can't afford the house? The value of the house and what you paid for it doesn't affect your ability to pay the mortgage on it. If your mortgage payment were to go up because the rates adjusted, it will become harder to make the payment. There's nothing wrong with the normal housing/mortgage market. The issues going on right now are builders have overbuilt and there's so much inventory on the market, and banks were offering ridiculous loans to people who could not afford them. Builders get a project off the books and banks get another loan through the door. As people couldn't afford these loans, the foreclosure and short sales have finally caught up to the banks and their shady practices. Sub prime is a buzz word that the media wants to keep pushing to make our economy sound worse off than it really is. The markets go up and down, houses gain and lose value, people plan and life happens. You are lucky that you were able to get a short sale done and avoided foreclosure. The banks look at people more aggressively now before they loan them money. DK you know that people resort to short sale to avoid foreclosure because they can’t afford the house? The value of the house and what you paid for it doesn’t affect your ability to pay the mortgage on it. If your mortgage payment were to go up because the rates adjusted, it will become harder to make the payment. There’s nothing wrong with the normal housing/mortgage market.

The issues going on right now are builders have overbuilt and there’s so much inventory on the market, and banks were offering ridiculous loans to people who could not afford them. Builders get a project off the books and banks get another loan through the door. As people couldn’t afford these loans, the foreclosure and short sales have finally caught up to the banks and their shady practices.

Sub prime is a buzz word that the media wants to keep pushing to make our economy sound worse off than it really is. The markets go up and down, houses gain and lose value, people plan and life happens. You are lucky that you were able to get a short sale done and avoided foreclosure. The banks look at people more aggressively now before they loan them money.

]]>