01-17-2009, 11:57 AM
OK, I disagree, all the blame kind of upsets me. I bought in 2007 and the health of my partner changed, making it unaffordable. We had every desire to make the place our home. Things happen to people that cause them to have to move even though they didn't anticipate it. Life is unpredictable.
Furthermore, people SHOULD be able to move, even homeowners, and a lot of people in this country want to move right now; it is just stuck.
I have heard this is a good time for loan modification if you have an income to support the lower payments and cannot afford your current payments due to something that changed. Assets do not replace income as qualification though.
Under the homeowner's relief act that was passed, you have to agree to sign away the equity in your house should you sell it any time soon, which is tough on people who put down conventional down payments.
Furthermore, people SHOULD be able to move, even homeowners, and a lot of people in this country want to move right now; it is just stuck.
I have heard this is a good time for loan modification if you have an income to support the lower payments and cannot afford your current payments due to something that changed. Assets do not replace income as qualification though.
Under the homeowner's relief act that was passed, you have to agree to sign away the equity in your house should you sell it any time soon, which is tough on people who put down conventional down payments.