Hi, this may sound like a dumb question; but I bought my home for $140,000 3 years ago, since then pretty much 80% of the houses in my community have been forclosed on due to idiots signing up for sub-prime mortgage lenders. after the forclosure HUD buys out the bank note and then sells the homes for like $75,000 - $80,000 each!! according to an appraisal based on this my home is now only worth $110,000 (based on HUD selling the homes around me for next to nothing) is there anything I can do? I feel terrible for the idiots who got caught up in sub prime lending but what about the people with good credit who always pay their bills on time?
2007-05-20
09:20:21
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6 answers
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asked by
Drew W
2
in
Renting & Real Estate