Homeowners – 1 in 5 Owe More on Mortgage Than Home’s Value
As the housing market has collapsed, roughly one in five homeowners now owe more on their mortgage than their house is worth. That’s created one of the thorniest problems in the debate over foreclosure relief: Who should bear the loss when a mortgage is bigger than a home’s value? Various proposals have been floated, including having the government share some of the loss in return for a stake in the possible appreciation of the home after it’s refinanced. downtown San Diego real estate
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4 Comments
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I paid my home off in april 96k to get rid of my house payment. I am still glad that I did. The ole saying “I’m from the government, and I am here to help you”…….you better look out, there is a kicker in there somewhere.
Austin Bankruptcy Legal Services
A house is WORTH what you can sell it for. Since it is virtually impossible to sell a house today, it’s WORTH is obviously less that the asking price.
San Diego Real Estate
And this is just the tip of the iceberg. When the dust finally settles, both housing prices and mortgage rates will be subsidized by the taxpayer. This, amigos, is just the next step on the glorious road to socialism. It truly does take a village.
Tijuana Dentist
Homeowners should be prepared to ride out the current fluctuation, because in the long run values should escalate.
San Diego Plastic Surgeon