If the housing market collapses, is it smart to default on your overpriced loan?
Bamp
It is almost never a good idea to do this
HARP refinances were invented so you wouldn't have to do this. google that shit. gayyyyyyyybuh.
Didn't know about this. Thanks gaybuh
Do you guys think a crash is coming?
i got about 60k saved up, would be great for me
If the house sells during foreclosure for less than you still owe it's called a deficiency and in every state but Alaska and Oregon they can come after you for the rest. Then you would have to file bankruptcy to get out of that.
I'd like to hear of a way around this, as I'm sure there is one, but I haven't found anything yet.
>i got about 60k saved up, would be great for me
I said screw it and took my down payment savings and put them into vangaurd health funds. I'm too scared to buy a house now, and if house prices keep rising so will stocks so who cares. It's not like I'll miss out of because of that.
So when the housing market collapses you’ll have 30k to buy a house?
guys whats the best way to finance a new house?
is there any kind of 1% mortgage for new home buyers or shit like that?
how are rates these days? and do you think theyre going to get better?