Re: US Home Values Bottomed Out?
Thanks so much for your post, Boomer. My daughter is also in a bad situation with this mess. No, she didn't get an ARM and she isn't in danger of losing her house. But both she and her husband now have close to 2 hour commutes and a new baby. They'd love to move closer to their jobs but the house is now worth probably $20K less than the mortgage on it. If they did sell, not only would they have nothing to put down on another house, they'd still owe a bundle on this one. A realtor told them to just walk away, but then who would give them another mortgage? And I'm sure they aren't alone.
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Syracuse, NY (last 30+ yrs) TV (next 30+ yrs)
Also: Wheeling, WV * Youngstown, OH* Niles, OH * Oshkosh, WI * Ft. Worth, TX * Da Bronx * Marathon, NY * Bricktown, NJ * Newark, DE * San Antonio, TX * Washington, DC * Tacoma, WA
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