[Ray76]

I DON’T care.

[P-Marlowe]

Trapped?

How about they just make the payments and pay it off?

[bjc]

The numbers do not add up. Surely those under water have less than 5% equity?

[funfan]

I though The One Who Shall No Be Named fixed the “Housing Crisis”.

[5th MEB]

Both my homes are paid off, only property and maintenance costs now.
Moral of the story is “DON’T BITE OFF MORE THAN YOU CAN CHEW”.

[Ken H]

There’s nothing like not having a mortgage.

[Jim from C-Town]

Summer of Recovery VI This time we mean it!

[dragnet2]

Millions on the brink?

I was told the economy is great, lots of good paying jobs, and millions more good jobs are popping up all the time.

[Texas Eagle]

So? Prices go up and down. It’s the circle of life.

[familyop]

I’ve seen some high prices on houses for a long time. Whether continuing to live in the houses without paying or simply being caretakers for holding outfits, they keep property taxes high.

[familyop]

Many holding companies are stubbornly avoiding short sales at least in some areas. I wonder what ties some of them might have to local governments.

[Kickass Conservative]

If you do 100% financing on a new Car and drive it off the Lot, you are underwater.

Does that mean you can stop making Car Payments?

I just don’t get it. When you buy a House you sign the Loan Papers and make your Mortgage Payments, right. Whether the Market goes up or goes down, your Mortgage doesn’t change.

Oh that’s right, it’s the Bank’s fault for lending you the Money.

[VanShuyten]

So, this is the right time for Obama to relax lending rules?

[Vendome]

So?

Seems like you guys cleaned up the nearly 9 million off book REO’s and now we’re down to about 1 million off book REO’s.

Seems like everything is fine...

[wiggen]

“18.9 percent, from a year ago—but it still keeps these borrowers from putting their homes on the market, because they would lose money.”
Actually that doesn’t stop anyone from making the sale. It means they don’t wish to make the sale not that they can’t.

[9thLife]

Too bad Obama can’t run for a third term and therefore buy yer votes with a bailout, eh?

[rodguy911]

I was underwater for years.
Family and friends told me to declare bankruptcy and fold,lose my credit standing and basically go broke.I told them all to go to hell.I made my payments and finally sold at a small profit.

[Sirius Lee]

As long as one still needs a place to live, then why not just keep paying the mortgage. Some mortgage payments are less than the price of a rental, especially as the latter has spiked in the last couple of years.

Every time you buy clothing or electronics with a credit card you are underwater as soon as you walk out the door. You don't stop paying the lender just because your pants and flatscreen are no longer worth as much as they retailed.

I really don't understand the thinking.

[bert]

balderdsh...... there is no loss if they like where they live and don’t sell. If they like where they are nottrapped

[wolfman23601]

We are 8 years in and still underwater. Not that big of a deal since we aren’t looking to move and haven’t lost a job and needed to relocate. Definitely has pushed aside some needed improvements though.