Home Forclosures hit record high

[snoopdan 5,000+ posts]

here 250k is ok, kinda funny you can drive 10 miles across the line into WV and the same house 250k here is 100k there

kinda like when someone tells you "I make $150k a year" and live in Washington DC. Thats like being on food stamps there //content.invisioncic.com/y282845/emoticons/laugh.gif.48439b2acf2cfca21620f01e7f77d1e4.gif

 

[Louisiana_CRX 5,000+ posts]

I think it is all in how you manage your money...I get by just fine on $20,000 a year....//content.invisioncic.com/y282845/emoticons/smile.gif.1ebc41e1811405b213edfc4622c41e27.gif

 

[IamDeMan 5,000+ posts]

I think it is all in how you manage your money...I get by just fine on $20,000 a year....//content.invisioncic.com/y282845/emoticons/smile.gif.1ebc41e1811405b213edfc4622c41e27.gif

I thought you were like rollin in dough inside your fortified mansion with AKs out the *** or something.

 

[DBfan187 5,000+ posts]

Me too. I thought he had one of those terrorists gopher holes stashed with teh ca$h meng!

 

[twisztdauthorit 10+ year member]

i live in bakersfield, CA where forcloures are some of the highest in the country. Its crazy but o wells.. Im in econ class researching this shit too, kinda funney that i came accross this thread.

 

[DejaWiz 5,000+ posts]

I think it is all in how you manage your money...I get by just fine on $20,000 a year....//content.invisioncic.com/y282845/emoticons/smile.gif.1ebc41e1811405b213edfc4622c41e27.gif

This is true. And as for ARM's... people should know better. It's simply applying the logic of how credit cards have been handles for decades to a mortgage. Miss one or make a late payment, you're screwed.

 

[faulkton 5,000+ posts]

i hope the housing market crashes pretty soon.

 

[Louisiana_CRX 5,000+ posts]

I thought you were like rollin in dough inside your fortified mansion with AKs out the *** or something.

I get by week to week like the average guy.....

 

[Flipx99 5,000+ posts]

This is true. And as for ARM's... people should know better. It's simply applying the logic of how credit cards have been handles for decades to a mortgage. Miss one or make a late payment, you're screwed.

An ARM is based on prime rate, not only repayment history.

i hope the housing market crashes pretty soon.

It won't because the government will bail them out.

 

[Louisiana_CRX 5,000+ posts]

i hope the housing market crashes pretty soon.

I hope the cost of building new houses drops soon //content.invisioncic.com/y282845/emoticons/smile.gif.1ebc41e1811405b213edfc4622c41e27.gif

 

[Flipx99 5,000+ posts]

I hope the price of oil drops soon.

I am more worried about that than the housing market.

 

[melnlovr911 10+ year member]

My stepdads house got foreclosed on last year. My girl and I only make $60k and we got approved for at least $100,000 without actually going through the pre approval process. Weve been looking for a house for a couple months. Back was talking about 3% down and 6.75%.

 

[Chevillac 5,000+ posts]

I was thinking that $250k is a really nice home...but I always forget about in some places a $250k home is a shanty. Here a $250k home is very very nice.
but that is only $70k/yr....I dunno. I would try to get something in the $150k range, but that may not get you much home.

180-240k was what I was looking at for buying recently, however these were in a different county, Its expensive but you get a lot more house. My other electrician friend bought his townhouse in the same area for 185K, he makes 18/hr, his girl make like 14/hr or something.

Here 250k is kinda cheap. 200k will barely get you a nice townhouse, depending on where you live. Like in my area, youll be paying 275k plus to live here. Plus you have to pay an $1000 community fee just for living in this county.

*finding current one*

Number 5 in the nation, by county. Hmmm so we either moved up or down, not sure when this list was ipdated.

kinda like when someone tells you "I make $150k a year" and live in Washington DC. Thats like being on food stamps there //content.invisioncic.com/y282845/emoticons/laugh.gif.48439b2acf2cfca21620f01e7f77d1e4.gif

//content.invisioncic.com/y282845/emoticons/word.gif.64b12e39f936af3b4fff38a1c0bd0244.gif

This is true. And as for ARM's... people should know better. It's simply applying the logic of how credit cards have been handles for decades to a mortgage. Miss one or make a late payment, you're screwed.

People should know, but most dont. Debt is real son. I remember flip posting a long post about debt and shit a while pack, in a thread like this.

Flip is our financial advisor or something.

 

[DBfan187 5,000+ posts]

I hope taxes are abolished soon.

 

[IamDeMan 5,000+ posts]

I hope taxes are abolished soon.

I hope Trunk gets castrated soon.