Comments on: Feel Like Sticking It to Your Mortgage Lender by Walking Away? http://www.creditinfocenter.com/wordpress/2009/12/03/feel-like-sticking-it-to-your-mortgage-lender-by-walking-away/ For the Up To Date News Tue, 07 Feb 2012 22:26:40 +0000 hourly 1 http://wordpress.org/?v= By: joe http://www.creditinfocenter.com/wordpress/2009/12/03/feel-like-sticking-it-to-your-mortgage-lender-by-walking-away/comment-page-1/#comment-6468 joe Wed, 06 Oct 2010 15:48:42 +0000 http://www.creditinfocenter.com/wordpress/?p=5590#comment-6468 All the responses do not cover all scenarios. In my scenario, the only way we could get into a house was with a mortgage that has a massive ballon payment at the end of 10yrs. The mortagage lender put us into this mortgage because they said we could refi in 5-7yrs and would never see the balloon. Well thats not going to happen is it? Do you have a solution for that? Are you or the banks going to help me with that massive ballon payment? We bought the house and got the mortgage based on the advice of the mortgage folks whom we trusted. Now, in a few years I need to come up with this massive payment! All the responses do not cover all scenarios.

In my scenario, the only way we could get into a house was with a mortgage that has a massive ballon payment at the end of 10yrs.

The mortagage lender put us into this mortgage because they said we could refi in 5-7yrs and would never see the balloon. Well thats not going to happen is it?

Do you have a solution for that? Are you or the banks going to help me with that massive ballon payment?

We bought the house and got the mortgage based on the advice of the mortgage folks whom we trusted. Now, in a few years I need to come up with this massive payment!

]]> By: Blanchard http://www.creditinfocenter.com/wordpress/2009/12/03/feel-like-sticking-it-to-your-mortgage-lender-by-walking-away/comment-page-1/#comment-5330 Blanchard Mon, 24 May 2010 16:31:12 +0000 http://www.creditinfocenter.com/wordpress/?p=5590#comment-5330 I feel that those who were dumb enough to sell investments based on us defaulting on the mortgages should be the ones bailing out all the banks. I would not buy a home for $600,000 if I am only making $70,000 a year. Yes that is right...I was working in the Boston area and a realtor tried to sell me a duplex in the $600,000 range even after I told him I only made $70k at my job. I told him in my opinion that price should have a $6,000 a month mortgage and I was not interested. Is a situation like this how all this housing bubble got started? Who determines how much a home is worth anyway? To me my home I have now is worth $1 Million dollers because my wife and I are happy there. I feel that those who were dumb enough to sell investments based on us defaulting on the mortgages should be the ones bailing out all the banks. I would not buy a home for $600,000 if I am only making $70,000 a year.

Yes that is right…I was working in the Boston area and a realtor tried to sell me a duplex in the $600,000 range even after I told him I only made $70k at my job. I told him in my opinion that price should have a $6,000 a month mortgage and I was not interested.

Is a situation like this how all this housing bubble got started? Who determines how much a home is worth anyway? To me my home I have now is worth $1 Million dollers because my wife and I are happy there.

]]> By: Kristy http://www.creditinfocenter.com/wordpress/2009/12/03/feel-like-sticking-it-to-your-mortgage-lender-by-walking-away/comment-page-1/#comment-3554 Kristy Tue, 15 Dec 2009 15:32:59 +0000 http://www.creditinfocenter.com/wordpress/?p=5590#comment-3554 I fixed it. ;) I fixed it. ;)

]]> By: Skeptical http://www.creditinfocenter.com/wordpress/2009/12/03/feel-like-sticking-it-to-your-mortgage-lender-by-walking-away/comment-page-1/#comment-3549 Skeptical Tue, 15 Dec 2009 05:07:50 +0000 http://www.creditinfocenter.com/wordpress/?p=5590#comment-3549 I read my own comment and now wish that this site offered spellcheck. I read my own comment and now wish that this site offered spellcheck.

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