20 Miles West of Indianapolis Indiana | JDEEREMAN - 9/1/2017 23:28
Why would You " have to come up with the difference to get back to even"? Unless Your real estate loan is year to year?
If You can cash flow the payments, why would your bank care if the value is now half?
You sound like some of the young couples who quit making payments on their house a few years ago during the "housing crisis". They said the value of their house was lower than what they owed. Their employment situation did not change, they could still make payments, just decided to bail on a house they ass-u-me (d) would always go up in value. Forgot "what goes up, also comes down".
Didn't at one time banks go to borrowers and tell them they needed to come up with funds to make their principal to appraisal difference back to even when values drop? |
We have them where we want them
