Can't stand it anymore....

comsnark said:
Those criteria are pretty disturbing. You have to owe more then $729K. .. and if you don't. . then you MUST be upside down to qualify.

Hmm. I wonder if I can mortgage my $200K home for $800K. . .then claim being upside down. . .
Click to expand...

No, equal to or less than the $729, which is going to be the majority of homes in the U.S. THAT is even worse. That one question alone puts probably (Im guessing) 85% of the homes in the U.S. in the "yes" category.
 
comsnark said:
Those criteria are pretty disturbing. You have to owe more then $729K. .. and if you don't. . then you MUST be upside down to qualify.

Hmm. I wonder if I can mortgage my $200K home for $800K. . .then claim being upside down. . .
Click to expand...
How did you get the "upside down" thing out of that list of criteria? What's with this "upside down" paranoia you have going on?:huh:
 
:smt013
Welcome to my world....... I have a family of Jamaicans living in the house next to me... There are probably 7-8 total living in the house, and there are 3, count 'em three Mercedes sitting in the driveway. (Not old classics like my garage car) on the 07-08 range. When I have the patience to listen, they are bitching about their interest only loan, and how the banks "took advantage" of them. This is commonplace in S Florida. They move here from guatemala or somewhere where they drove an ox=cart, and soon they have a $700 a month car loan for a 300 Hemi with 22's and a boom box on board. Then they pack 4 families in the house so they can afford the rent.
The good thing about this is if they hang on their leader is going to save them... I hear it all the time....

j
 
Apparently, there was a young couple that lied on an application in South Fl, qualified for a 3 or 4 million dollar home loan, took out 125% second, never made a payment, lived in a mansion for a year, defaulted on the primary and second, and made off, legally (?), with a million bucks.
 
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