V8 Beast

The mortgage company agrees to take less for the house than whats left on the loan. In most cases the people are at risk of foreclosure so they do it so that its not a total loss. In my case the loss prevention team is the only department that can approve or deny these. Since I pay on time I was told to stop paying and they might help me. During that time open houses, walk throughs, etc are conducted and hopefully a buyer is found. After an offer is made its sent over for approval through the mortgage company. Its considered a more responsible way to leave a house but still has somewhat of an impact on your credit. It also has about 3 less years of impact on your credit than walking away. Just outside of Hilliard. Columbus taxes, Hilliard schools (was the biggest reason for getting it). Its really up to the mortgage company but I'm hoping for $160k after I finish up some upgrades this spring. I dont mind the house or area at all. Its just hard to swallow 3-4 years of payments going towards nothing because I picked the cheap house on the block and it got cheaper.

This argument has gone around in circles for years with facts on both sides. I'm biased because here is what happened to me.... A guy in finance said I was approved for $225k. I asked how much the payment was, and he started talking about the ramp up mortgage. Asked me how much of a raise I got each year, my yearly bonus, and any other forms of "expected income". He worked out the math to tell me I could afford it by the time it ramped up. Being conservative I told him I wasnt buying a house for more than $175. At that point he tried to pressure us to get a house by showing how much better the more expensive houses were, and told us the program was made specifically for people like us. After an hour of declining offers he finally gave up. The pressure given from that guy was pretty bad. Having a 24% foreclosure percentage in my area can be partly contributed to that one guy. One finance guy and a lot of young people with dreams to buy a house that were taken advantage of. Not saying its all like that because we know Americans love to live outside of their means.. but when you get pressure on top of it, its not good. Yes its the buyers job to be aware. But its also the finance companies job to be mindful of who they give money to. There is fault on both sides.

Quoting fail before its fixed

Just looking for opinions, not a bitch fest. If you feel I should not persue a shortsale then do so without being an asshole. Thanks

So lets make this nice and clear. If you are in a situation where you can make your money worth more value at the expense of another do you take it? In this case the person losing out is the bank in the form of a short sale if possible. They are getting the currents house worth, instead of the initial worth.

When did I blame the bank for my issues? I remember saying to cheif that in my case I wasnt at risk so its not the banks fault. I'll revisit what I said about comprehension earlier.. In case you missed it.

Its always a buyer beware, I agree... But in this case the companies are causing themselves trouble by trying to make a quick buck. If you talk someone into buying a home they cant afford, then how can you get mad when they cant afford it?

Does typing in caps makes you feel better? Have I done it or am I asking for opinions? Is my mortgage paid on time and am I working with the bank... If comprehension and an adult conversation is above you then get the fuck out. K thanks, buy

It is the banks fault in a lot of cases. In mine its not because I wasnt considered high risk. In a lot of cases they approved these increasing rates, and loans for people outside of their means so they could clean up on interest. Thats not an opinion its a fact.

Gabe, I probably make too much money to qualify for anything Obama has to offer Ben, Im leaning towards sucking up my pride and taking the father in law up on his offer. I just feel like I was taken advantage of initially and the dropping value is pushing me over the edge. I was that guy that used to say suck it up.. but I dont bust my ass at work to give it away. If they are willing to work with me I'll stay, but it seems unlikely

Yeah, parents in my case would rather buy a house than have us move in with them. EXACTLY!!!!!!!!! Or I can toss money into a pit of morals so I can say I did the right thing for a blood sucking bank that signed off on my dumb decision.. And just when I go to sell this house and break even the market has picked up thanks to Ron Paul and my dream home is $2000 a month again. Having the option from the In-laws is what made the decision hard. With it taking about 5 years on a foreclosure, a 2 on a short sale before you could buy a house I figured I would be stuck renting anyway. Now that I know the family can have a house to live in that will initially be mine, it makes the decision more complicated.

Why would I take it out of their name until I was able to get a good rate? How are my credit cards going to be impacted? I dont believe in credit cards. I have 3 cars and recently started buying cars out right so that I can be more like Nurkvinny and get new-to-me cars when ever I want. Dont read to far into it. The only real issue is would you really feel comfortable paying someone $40k for nothing, when you could put that towards something of value.

Is that technibond?

The story... - Buy a house 7 years ago in a good neighborhood for what seemed like an ok price. - Over the year taxes increase and the value of the home drops tremendously. - Square footage of the house is wrong as listed. When this is found the price drops even more. - With the value of the house dropping it would take 3-4 years of payments to break even. Literally throwing 4 years of money away on something that is unlikely to return a profit. - For what Im paying I could be in a better house. A house that if the value dropped I wouldnt mind. Not some stupid started home I got when my wife and I made less money. With the increases and drop in price its like paying 185k on a 140k home. - After talking to a few specialists they stated paying on a house like this is a waste of money with the way the market is now. The value in this neighborhood is unlikely to go back up as much as its dropped. - I called the mortgage company to look into a short sale or other options. After trying many different angles they are completely unwilling to work with us unless I stop paying them. The fact that we pay on time makes them unable to help us. Plus we already have the lowest interest rate they offer. - My father in law offered to put a house in his name if we had to take a credit hit. On average it takes about 2 years on a short sail before you can get a decent interest rate... but I dont know if I would be comfortable doing a rent to own from a family member. At the same time I would swallow my pride to put my family in a better situation. Do you stay and hope the value of the home increases? Stop paying and see if they will work with you (take a big hit on credit) Take some kind of legal action? The person said they are very likely not to approve a short sale for a loss that big. If they dont approve it do you just walk away and take the father in law up on his option? Take another option not listed. Ive been through every scenario possible with my wife. Im hoping someone that has possibly been through this before can chime in and shed some light. Paying them is no issue... but at the same time I got a house to get away from throwing my money away to renters. Now Im a renter in my own home. The responsible side of me makes it close to impossible to foreclose/shortsale. I feel it was my decision to buy this house and as little kid then I learned what not to do. On the flip side I hope the mortgage company can see how a good paying customer wouldnt be willing to hand them tens of thousands with a smile on their face.

Winning takes a team. We are talking about him as an individual. You blow him off like getting all those yards was easy. Plus Manning threw almost 30 interceptions when he broke the record. I remember ESPN talking about him like a dog for that.... Now he's one of the best ever. Give Cam his credit.. it took 14 years to break that record. Not every qb got the defensive attention he did. To Ben's point the defensive game plan was to stop him. Not an easy task when people spend a week studying all of your weak points and tendencies. Now RG3 just needs time to throw. I don't see him being an instant benefit unless they up their o line. I agree that the browns have more to worry about. Throwing away picks wouldn't be smart.

Working with evil8 to get CR a good rate on kilkare.

Its the 50 modified to 30. Its pretty easy to put back to 50 too if you have the authorization for special mags.

Here my professional take on the two systems Apple creates one look and runs with it. If you have used an iPod, ipad, or iPhone you know what I mean. Android allows manufacturers to create different looks and options tailored to their customers. Having different screen sizes and physical keyboards are proof of that. Apple releases a new phone every 12 months. This makes for a more stable program with less bugs due to being very cautious in the new additions. Android has a new phone released every two weeks. The level of testing is compromised because people want to claim they were the first to do something. Apple has less menus and less touches to get to most features. This makes it easier to learn. Android has a higher warranty return rate per customer. Not that the phones are broke.. its just people don't know how to work the phone so they think its broke. A large percentage of android phones replaced through warranty are in a perfect running order. The extra menus that cause the android to be harder to use.. also make it easier to customize. Doing certain things through iTunes only is limiting. The iPhone camera is great. The HTC camera is great. The rest are good to OK. The iPhone display is great, the Samsung display is great. The rest are good to OK. (Special mention to the razr for its crisp display)

Last time I heard a noise in my house I put on a suit and warned any possible intruders in a British accent.

I'm digging this!

Downplay a guy that broke rookie passing records? I don't get it

I farted in your car when Anthony drove to the store during that cookout 4 years ago.

I have hollow points at home.