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Real Estate
Reply to "moving into our new home, purchased as a foreclosure. feeling weird."
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[quote=Anonymous][quote=Anonymous]You never know what other peoples motives. Some people walk away from these properties on purpose.[/quote] Yep. And some people are greedy and spend beyond their means. We moved to this area from the west coast in 2006. Massive 5,000+sqf homes were being advertised with no money down and payments of $1200/month which completely confused us! Then we read the fine print and saw that the low monthly payment was only for the first 6 months, after which it doubled. Then after a year it doubled again. And six months later, again...to the point where a few years later the monthly payment was more like $5-6000/month. Too many people "needed" their excessive home and when the market crashed two years later and they couldn't refinance, they were screwed. [/quote]
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