[lowbridge]

"3) They bought their “lavish house” sixteen years ago for $55,000 at a time when the neighborhood was less than safe." Your information is incorrect (and again fails to provide a link). "They" did not buy the house 16 years ago, Mr. Frost bought the home on his own on 11/30/1990. The couple was married in 1992, and it appears his wife paid him $52,500 to be added to the deed on 09/06/2005. Interesting that on the Department of Assessments and Taxation form under "Principal Residence:" it states "NO". Do they own a second home in addition to the commercial property? Also, please cut and paste from my article where I said they lived in a "Lavish house". Large house-yes, and nice kitchen from the photo.

Regardless of hwo bad the neighborhood was, that was the median price for a home in Baltimore around 1990:

In Baltimore, median household incomes rose from $24,045 in 1990 to $36,031 in 2006 in the Baltimore City-Towson area. But median home prices in that same area went from $54,700 to $126,400, according to census data.

http://www.examiner.com/a-932132~Gap_between_incomes__home_prices_may_contribute_to_slow_market.html

Also:

http://real-estate.nextag.com/propID_10059963/104-S-Collington-Ave/Baltimore/Maryland/homes-html

[angkor]

The national average mortgage rate in Nov 1990 was about 9.7 percent.

Taking a 20 year fixed, monthly payments would be $519.88.

In Sept 2005 (when his wife made her $52K payment), the remaining principal balance would have been about $25,272.74. Today, the principal balance would be just short of $16,000.

9/6/2005