Off-Topic: Trapped by Negative Equity

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	Name:	hibill -
	Subject:	Trapped by Negative Equity
	Date:	5/25/2013 11:19:44 AM

Biggest problem with buying a home is the down payment, my last purchase was 10 years ago and I had to come up with 25% down, which wasn't a problem for me. Many young people simply do not have the means or funds to drop 20K to 40K on a new home. I agree they must have some skin in the game and a perfect credit score to purchase housing.
I live in an older neighborhood, most of the house here sell for 100K to 200K and are from 35 to 45 years old. Even if a man can afford the payments, which in most cases is cheaper than renting the down payment is staggering.
I pay $640 a month for my home, 4 bedrooms,3 baths and a large finished basement plus shop, but across the street is a house half the size of mine and rents for $850. There must be a better way to buy homes than what is in the system today.

Other messages in this thread:

View Entire Thread

Trapped by Negative Equity - roswellric - 5/24/2013 7:02:03 PM

Trapped by Negative Equity - MartiniMan - 5/25/2013 10:05:32 AM

Trapped by Negative Equity - hibill - 5/25/2013 11:19:44 AM

Trapped by Negative Equity - Osms - 5/25/2013 11:55:39 AM

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