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<blockquote data-quote="DammitJanet" data-source="post: 513471" data-attributes="member: 1514"><p>This really irritates me. Jamie got suckered into this scam when he bought his townhouse. I tried hard to talk him out of it but who was I except mom. The loan company and the fraudulent assessors gave him bogus numbers and told him he could afford the house. BS. They assessed the townhouse the year he bought it at $150K. He bought it for a "steal" at 145. Dumpy place really but they had done some work to it but it has a tiny galley kitchen that I wouldnt give a dime for. His mortgage is around 990 a month including escrow. Well...the market fell and now the place is only worth about 65. No joke sherlock. I saw that coming a mile away. I dont think it was ever worth much more than that. The VA would never give him a loan on it so he had to get a HUD loan or one of the other big ones...cant remember. He at first got a variably rate but I pitched such a huge fit he did renegotiate it to a fixed rate. Now he is stuck upside down and he is attempting to do something with this new program that has come out in VA to help people who are upside down in their loans</p></blockquote><p></p>
[QUOTE="DammitJanet, post: 513471, member: 1514"] This really irritates me. Jamie got suckered into this scam when he bought his townhouse. I tried hard to talk him out of it but who was I except mom. The loan company and the fraudulent assessors gave him bogus numbers and told him he could afford the house. BS. They assessed the townhouse the year he bought it at $150K. He bought it for a "steal" at 145. Dumpy place really but they had done some work to it but it has a tiny galley kitchen that I wouldnt give a dime for. His mortgage is around 990 a month including escrow. Well...the market fell and now the place is only worth about 65. No joke sherlock. I saw that coming a mile away. I dont think it was ever worth much more than that. The VA would never give him a loan on it so he had to get a HUD loan or one of the other big ones...cant remember. He at first got a variably rate but I pitched such a huge fit he did renegotiate it to a fixed rate. Now he is stuck upside down and he is attempting to do something with this new program that has come out in VA to help people who are upside down in their loans [/QUOTE]
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