Snappy:
oh yes! the House is a mess right now with boxes, however the one great thing about moving is you throw away a lot of CRAP!!!
I will post a curb alert shortly as we are giving away furniture etc etc
YEs the OT is particularly scary today
“Why would a 155 pound Asshat buy a house in the middle of the Ghetto unless there is “EXPECTATION”!”
Ok then, let’s go ahead and assume that he bought expecting a huge upturn. So, he and other recent buyers have lost some value. AND???? I still fail to see how that affects you personally. It’s sad, really, to see someone take such delight in someone else’s bad luck. It says a lot more about you than it does about the aforementioned buyers.
Here Jackasses suck on this! Here’s someone else PWNING Dave read it!
well I would imagine that any normal bank will look at the debt you have, at the value of the apt you “own” and then decide if you can borrow. If you owe 850kon a 500k apt you owe a lot of money you don’t have. Why would any bank lend to you, and who would refi that mortgage. No sane bank would. Your FICOmay be fine, but you ability to borrow is still massively impaired. Oh and BTW when your existing guy realises that you are trapped in the mortgage you have wait to see the crap treatment you get from servicers etc, because they know you can’t re-fi away from them.
If you default, you get put in the penalty box for 7 years and then all’s fine, as far as I understand it. So default, rent and save for 7 years and then you can borrow again or carry on paying a multiple of what your property is worth for 30 years and hope prices come back. Seems like an easy decision to me.
Posted by: bklyn_rntr at August 25, 2009 10:13 AM
“What, its actually very sad that you remain so angry with the world.”
I just hate you Dave! You represent everything I loath with the Gentrification Movement. That’s why we can never meet face to face and everyday I hope you of all people get smashed in the collapse of the Mutant Asset Bubble….
FGVOTD
http://www.youtube.com/watch?v=2c4L4CPfQY8
144 max.
Snappy:
oh yes! the House is a mess right now with boxes, however the one great thing about moving is you throw away a lot of CRAP!!!
I will post a curb alert shortly as we are giving away furniture etc etc
YEs the OT is particularly scary today
“I just hate you Dave! You represent everything I loath with the Gentrification Movement.”
First of all, WTF is the “Gentrification Movement?????”
Secondly, why am I representative of it???
I have said, on numerous occassions, that Bed Stuy “gentrified” from within. it was gentrified by the people living there loooooong before I arrived.
People there raised the value of their property by themselves. Would you dare damn them for doing that???
Biff, we could definitely use a FGVOTD. It’s getting hot in here!
“Why would a 155 pound Asshat buy a house in the middle of the Ghetto unless there is “EXPECTATION”!”
I take exception with this comment. There is no way DIBS weighs more than 150 pounds soaking wet (re-write?).
Hey DIBS, I’m right here. 🙂
“Why would a 155 pound Asshat buy a house in the middle of the Ghetto unless there is “EXPECTATION”!”
Ok then, let’s go ahead and assume that he bought expecting a huge upturn. So, he and other recent buyers have lost some value. AND???? I still fail to see how that affects you personally. It’s sad, really, to see someone take such delight in someone else’s bad luck. It says a lot more about you than it does about the aforementioned buyers.
Where’s Biff???
Here Jackasses suck on this! Here’s someone else PWNING Dave read it!
well I would imagine that any normal bank will look at the debt you have, at the value of the apt you “own” and then decide if you can borrow. If you owe 850kon a 500k apt you owe a lot of money you don’t have. Why would any bank lend to you, and who would refi that mortgage. No sane bank would. Your FICOmay be fine, but you ability to borrow is still massively impaired. Oh and BTW when your existing guy realises that you are trapped in the mortgage you have wait to see the crap treatment you get from servicers etc, because they know you can’t re-fi away from them.
If you default, you get put in the penalty box for 7 years and then all’s fine, as far as I understand it. So default, rent and save for 7 years and then you can borrow again or carry on paying a multiple of what your property is worth for 30 years and hope prices come back. Seems like an easy decision to me.
Posted by: bklyn_rntr at August 25, 2009 10:13 AM
“What, its actually very sad that you remain so angry with the world.”
I just hate you Dave! You represent everything I loath with the Gentrification Movement. That’s why we can never meet face to face and everyday I hope you of all people get smashed in the collapse of the Mutant Asset Bubble….
The What
Someday dave is gonna end..