Quote:
Originally Posted by firstdown
The problem is that the market is correcting itself and home prices are going to drop. I purchased a home 04/2004 right in middle of the boom and new this was going to be an issue. I looked at alot of homes and knew that this boom had to stop and was very worried about getting stuck in a home. We finally found a nice home which was for sale by owner and way under what the market was bringing. We gave them a deposit on the spot and got the contract done in days. Now I know I was lucky but I just took the time to find a good deal. Even with todays market I can sell our home for around $75,000 to $100,000 more then we paid back in 2004. I understand your concern but I think the market is going to take a hit no matter what is done.
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Agreed. It just sucks right now and you should consider yourself lucky. the orginal complaint in this thread was and S10 point this out that there are tons of people out there that have cut corners not made payments and/or poor decisions and now they are getting help while the guy who is doing it right is left holding the bag.
And yes I realize a lot of people are worst off then me and I am gratful to have a roof and food for my family.
Enough said good luck to everyone in these dark times.