Official Upside Down on My Mortgage Thread

[pGekko]

my mom and stepdad are in the process of trying to buy a new house out in White Lake. It's a newer sub, and the house was built in 2005. The house went on the market 2 years ago, starting at $310k. It's dropped to $200k, and is a short sale. My stepdad offered $150k cash, the owner accepted, and now they're just waiting on the bank to accept.

This thread isn't for buy-side success stories a-hole.

[pGekko]

Sometimes I wish I had a hot tub time machine, but in reality I wasn't going to rent for the last 4 years, so I had to buy something.

[yourmom_is_hot]

This thread isn't for buy-side success stories a-hole.

sorry, someone had to do the flem 1up post.

[pGekko]

sorry, someone had to do the flem 1up post.

[pGekko]

Why the hell does an Official thread of Justin's stories not exist?

I'd be impressed if he could weave a fat lady I work with story into this thread.

[pGekko]

I bought my place 4 years ago (foreclosure). This is a thread to discuss bailouts and other strategies to get out of this mess ... or just to vent.

How could I forget? This is the official thread picture:

Attachment 5879

[Preacher_Boy]

I'd be impressed if he could weave a fat lady I work with story into this thread.

I fully believe it can happen. But that is because I am beginning to believe the fat lady he works with is either his sister or wife

[pGekko]

I fully believe it can happen. But that is because I am beginning to believe the fat lady he works with is either his sister or wife

I was just thinking that when he was talking about his wife's take on the houses and new car.

[Blindly Painted Bastard]

Paid 140k for my house in March, 2006. In September, 2009 the house two doors down from me (which essentially the same as mine) went for 65k. (it wasn't foreclosed, the old lady died and the kids sold it)

I try not to think about it much... It just means I'll be in it another 5 years or so since I refuse to pull a joeking.

my situation mimics this almost exactly.

[Bogen]

Got a mortgage on my moms house to buy property for 65k. Last year it appraised for 100k. Now when I'm trying to sell it because the payment jumped it appraises for 50k. I WILL JoeKing that ***** if it comes down to it. I have sent all of the stuff for assistance in 2 months+ ago, and am getting nothing from the bank. I am willing to take my loss and short sell, but getting nothing from those turds.

P.S. I'm sure my place is upside down too. I don't have the balls to get it appraised

[phillyfan]

Wrote a $40k check at closing