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Topic:
Mortgage modifications: Winning!....? [Locked] |
Kordirn  Title: Pirate Prince
Posts: 1,513
Registered: 2004-4-19 01:15:26
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Date Posted:
1/1/00 12:01am
Subject:
Mortgage modifications: Winning!....? |
Eithne_Boadicea posted:
The cost of housing in my hometown (where my friend lives) has gone up a ton over the last 20 years or so because of all the (relatively) wealthy people moving up from California in addition to the inflation experienced already. Like I said, their house was for 7 people, it's not like they had game lounges and an indoor swimming pool. That's fairly average for a middle class home in that area.
Where in California do you live? I have some friends in the northern part of the state who are trying to sell a house rather than renting it and the figures she quoted me seemed pretty absurd but I guess are the norm there.
Sacramento right now, but i just moved from the foothills which is what I was comparing your price to. My dad lives in Sandpoint, but I am not sure how much it cost him for his place. Seemed to be cheaper than here though. My parent's old house in the foothills(Cameron Park) which was 5 bedrooms, and 3 bathrooms cost around 250k. Also in a pretty nice area.
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Yukishiro1 Posts: 3,243
Registered: 2002-9-20 23:52:57
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Date Posted:
1/1/00 12:01am
Subject:
Mortgage modifications: Winning!....? |
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The mortgage servicer is not the same as the bank. If your mortgage was sold to someone else and the bank doesn't own it any more and is only the servicer then yes there may be circumstances where, for stupid reasons, they make more money through foreclosure. But that's in their role as servicer, not as the owner.
The last article is stupid beyond belief and makes no sense. Mortgage insurance doesn't work the way that person thinks. Mortgage insurance covers the loss. You don't get the market value and get to sell the property.
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Yukishiro1 Posts: 3,243
Registered: 2002-9-20 23:52:57
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Date Posted:
1/1/00 12:01am
Subject:
Mortgage modifications: Winning!....? |
Kordirn posted:
Sacramento right now, but i just moved from the foothills which is what I was comparing your price to.
Another place no one wants to live because there's nothing there.
But yeah, you can get cheap houses in places where there's lots of land and few people wanting to buy the land. Who woulda thought it.
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Date Posted:
1/1/00 12:01am
Subject:
Mortgage modifications: Winning!....? |
Coeur d'Alene, Idaho is a resort town, and A LOT of people from California obviously prefer it to California. In fact it rates in the top 50 luxury real estate markets.
http://napaconsultants.com/luxury-real-estate-marketing/category/50-top-luxury-real-estate-markets |
Abaddon_Ambrosius Title: Retired Theurgist TL
Posts: 1,674
Registered: 2001-12-21 09:51:39
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Date Posted:
1/1/00 12:01am
Subject:
Mortgage modifications: Winning!....? |
Yukishiro1 posted:
Paying more to live in a better location is not a bad choice. If it was, the smartest people would live alone in the middle of the sudan where they could get a huge house and 10 acres of land for about 1000 bucks.
Good luck with that.
Aside from ultra-premium mansions and the like?
Only someone who is totally deluded with no real sense of value is going to get hoodwinked into thinking that living in a housing bubble of 10-12x US median income is "worth it."
News flash: There's nothing you are getting living in x American city & 'burb vs living in y American city & burb that constitutes a 500%-vs-median-income value.
Although... the real estate moguls surely thank you for your gullability.
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imaloon1  Posts: 674
Registered: 2003-9-15 07:19:53
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Date Posted:
1/1/00 12:01am
Subject:
Mortgage modifications: Winning!....? |
Yukishiro1 posted:
The mortgage servicer is not the same as the bank. If your mortgage was sold to someone else and the bank doesn't own it any more and is only the servicer then yes there may be circumstances where, for stupid reasons, they make more money through foreclosure. But that's in their role as servicer, not as the owner.
The last article is stupid beyond belief and makes no sense. Mortgage insurance doesn't work the way that person thinks. Mortgage insurance covers the loss. You don't get the market value and get to sell the property.
Tell that to SunWest Bank Yuki.... They did and still do...
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Kjarhall Title: The Pungent One
Posts: 915
Registered: 2002-3-1 15:47:21
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Date Posted:
1/1/00 12:01am
Subject:
Mortgage modifications: Winning!....? |
There are resort towns in Idaho????
WTF is this world coming to?? All you Idabastards stop it and get back in your place - growing potatos and joining militia movements.
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Yukishiro1 Posts: 3,243
Registered: 2002-9-20 23:52:57
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Date Posted:
1/1/00 12:01am
Subject:
Mortgage modifications: Winning!....? |
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My parents wake up each morning and eat breakfast while they look down at the bay. There are maybe 5-10 places in the whole world that offer anything comparable. They also drive 16 and 27 year old cars, respectively.
Value is not static and objective. What is valuable to one person may not be valuable to another person. It doesn't surprise me you don't understand this.
If you prefer to live in crapville because the housing is cheap be my guest. If you're the sort of person who thinks places are interchangable and essentially all the same crapville is certainly the location best for you.
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imaloon1 Posts: 674
Registered: 2003-9-15 07:19:53
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Date Posted:
1/1/00 12:01am
Subject:
Mortgage modifications: Winning!....? |
Kjarhall posted:
There are resort towns in Idaho????
WTF is this world coming to?? All you Idabastards stop it and get back in your place - growing potatos and joining militia movements.
Who the hell do you think we're selling all our guns and potatoes to?
Nobody in those resort towns wants anybody else within 500 miles of them 
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Hammerhand21  Title: That's what she said
Posts: 147
Registered: 2002-2-26 14:28:29
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Date Posted:
1/1/00 12:01am
Subject:
Mortgage modifications: Winning!....? |
Abaddon_Ambrosius posted:
Yukishiro1 posted:
Paying more to live in a better location is not a bad choice. If it was, the smartest people would live alone in the middle of the sudan where they could get a huge house and 10 acres of land for about 1000 bucks.
Good luck with that.
Aside from ultra-premium mansions and the like?
Only someone who is totally deluded with no real sense of value is going to get hoodwinked into thinking that living in a housing bubble of 10-12x US median income is "worth it."
News flash: There's nothing you are getting living in x American city & 'burb vs living in y American city & burb that constitutes a 500%-vs-median-income value.
Although... the real estate moguls surely thank you for your gullability.
We are living where we do because it has the best school system in the country.
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