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justin · 03-23-2007, 09:47 AM

I'd like to see a story about a responsible borrower who is now in default/foreclosure. You know, someone who saved up enough for a real down payment of 20%. Bought a house with long-term payments (including taxes and insurance) no more than 25-30% of their incomes.

It seems like the trend was to buy as much as you can possibly afford and just cross your fingers that no one got sick or got laid off. Getting sick or getting laid off seem like things you can and should plan for. I don't know about others, but investing a day or two into analyzing "what-if" scenarios before you spend HUNDREDS OF THOUSANDS of dollars on 4 walls and a roof seems like a pretty darn good idea to me. If figure most people spend at least a day or two researching and shopping for their big screen HDTV's or jet skis. :

I'm just left with a big ole "glad it ain't my problem!" feeling.

03-23-2007, 09:47 AM	#16
justin Thinks s/he gets paid by the post Join Date: Jun 2005 Posts: 4,009	I'd like to see a story about a responsible borrower who is now in default/foreclosure. You know, someone who saved up enough for a real down payment of 20%. Bought a house with long-term payments (including taxes and insurance) no more than 25-30% of their incomes. It seems like the trend was to buy as much as you can possibly afford and just cross your fingers that no one got sick or got laid off. Getting sick or getting laid off seem like things you can and should plan for. I don't know about others, but investing a day or two into analyzing "what-if" scenarios before you spend HUNDREDS OF THOUSANDS of dollars on 4 walls and a roof seems like a pretty darn good idea to me. If figure most people spend at least a day or two researching and shopping for their big screen HDTV's or jet skis. : I'm just left with a big ole "glad it ain't my problem!" feeling.