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To: HerrBlucher

I bought my second house in 2000 (a modest, 1800 sq ft colonial), with about 10% down and have been paying a little extra on it for 10 years. I’m still easily $50000 underwater. Prices are down up to 70% in our area. Smart or stupid had nothing to do with it.


48 posted on 09/23/2010 12:21:50 PM PDT by JTHomes
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To: JTHomes

>>I bought my second house in 2000 (a modest, 1800 sq ft colonial), with about 10% down and have been paying a little extra on it for 10 years. I’m still easily $50000 underwater.<<

But does it matter? Your house provides the shelter you purchased, irrespective of the price of the next door neighbor’s house. The “underwater” is imaginary.


67 posted on 09/24/2010 8:06:45 PM PDT by freedumb2003 (The TOTUS-Reader: omnipotence at home, impotence abroad (Weekly Standard))
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