re: Nearly a Million Americans Fear Losing Their Home to Foreclosure in the next two months

quote:

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There were idiots on this board paying ABOVE appraisal last year for a house

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While it was stupid financially, the housing market isn't the cause of someone ending up in foreclosure. If you could afford the payment when the value of the house was high, you can still afford it now, provided you have the same job. You ight be upside down and will end up paying more than the house is worth, but a bank can't forclose if you're making your payment. People aren't ending up in foreclosure because the value of their house went down.