Lisa99
Thinks s/he gets paid by the post
- Joined
- Aug 5, 2010
- Messages
- 1,440
Why someone would take on a mortgage they had no hope of paying I'll never understand.
I think back in the hey day (pre 2008) people were buying with the idea of speculating/flipping when real estate was going up and up.
YEP! We have acquaintances who together made less than $75k/year. During the run up they bought SIX houses with zero down in Phoenix over a period of 2 years and had renters in them. When their adjustable rate mortgages started going up they started defaulting. Nothing but whining on their part about how unfair it all was (losing their rentals and the primary house). DUMBDUMBDUMB