01-17-2009, 08:33 AM
RG - if you first entered the housing market in 2005, then you bought at the highest the US housing market has been.... if you also SOLD a house in 2005, anywhere in the US, you sold at one of the highest prices, so that would even things out....
If your mortgage is higher than you can afford, and you have not lost a job or wages since 2005, then shame on your lender (& you) for for allowing you to buy something that you could not afford.... if you have had unexpected loss of wages since qualifying for your mortgage, you may be able to request some temp bridging relief from your mortgage co.... most do not offer much relief to buyers remorse type situations.... (asset portfolio loss alone generally does not qualify for a mortgage relief (even if you are living on interest from assets... there must be an unforeseen loss of income....
If your mortgage is higher than you can afford, and you have not lost a job or wages since 2005, then shame on your lender (& you) for for allowing you to buy something that you could not afford.... if you have had unexpected loss of wages since qualifying for your mortgage, you may be able to request some temp bridging relief from your mortgage co.... most do not offer much relief to buyers remorse type situations.... (asset portfolio loss alone generally does not qualify for a mortgage relief (even if you are living on interest from assets... there must be an unforeseen loss of income....