Quote:
Originally Posted by DebbieL
By the way, the fact that you bought when prices were at the top of the bubble was not "due to the mistakes of OTHERS in your community". Nobody had a gun to your head. Did you think that prices would just continue their insane climb forever? People like me could spot what was happening (and the correction that would inevitably have to occur), and chose not to contribute to the problem by buying (and you contributed to the problem by being willing to buy for the inflated price you bought at). You have to take ownership of your own poor decisions. In your shoes, I wouldn't wish to continue a $2000 monthly payment I could be getting the same thing for $1000. You gambled and lost. Houses really don't always go up as the public was being brainwashed to believe.
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I did not buy it at peak. I bought it at 315K, it went all they way to 400K. If others have not walked away, price of home wud have been around 275K to 300K which is reasonable. I wud not have been worried much. But several people whoever bought it over 350K just waked away. most of them did not put any money down or only 5%. So they just walked away. banks sold those houses for cheaper price. thats how they brought down the Comp. Yeah I agree buying that house for 315K is partly my mistake too.