are you upside down on your house?

[Petunia 100]

this forum is probably a bad place to conduct this poll, what would the numbers be it i were to hang out in front of walmart?

Agreed. If you hung out anywhere in my town and asked this same question, you would get very different results. Home prices in my town have fallen 70% from the peak in 3rd quarter 2006.

[asmom]

We are upside down. We bought in 1998 well before the peak. We never missed a payment, had a fixed rate from the beginning, have not borrowed against our home. Yet, we are upside down because everyone else did the exact opposite of what we did. Therefore when they lost their homes, values plummeted including ours. That's the way it goes. 13 years in and this! At least home prices appear to have stabilized and a couple of homes in our neighborhood have actually sold in the past few months so that's a positive. We will probably be right side up again in about 3 years. We weren't planning on going anywhere anyway.

[disneysteve]

We are upside down. We bought in 1998 well before the peak. We never missed a payment, had a fixed rate from the beginning, have not borrowed against our home.

How much of a down payment did you have when you bought?

[LivingAlmostLarge]

Right if you bought in 1998 and paid off 13 years it should be half paid off right? Halfway through the mortgage? And you bought before the rise in prices?

[photo]

I own 100% of my house, which has more than doubled since its purchase over 20 years ago.

[asmom]

How much of a down payment did you have when you bought?

Right if you bought in 1998 and paid off 13 years it should be half paid off right? Halfway through the mortgage? And you bought before the rise in prices?

We didn't. We have a VA loan. Currrent estimate is about 30% less than purchase price, that's 55% down from the peak which occurred about 7 years after we bought. Our zip code was one of the top foreclosure zip codes in the nation, yippee.

At least we can swing the mortgage on only one paycheck. In fact, monthly payments are down to about 7% of our combined income so that reduces the sting quite a bit.