Quote:
Originally Posted by IllTestYourGirls
Yet people REFUSE to drop the price of those homes.
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I know, the banks could care less and if the government does not jump in, I think it will only get worse.
Now, on another note....something that really chaps my nuts is our home used to have a value of around 260K, now the home is worth 138K and dropping, but we still have to pay taxes on the 260K and not the 138K which is present day value.
We called our homeowners insurance to find out what they will pay if the home burns or has to be replaced...guess what? If the home burns and has to be rebuilt, the insurance is only going to pay the present day value, but yet I am paying insurance on the value of 260K, which would leave us holding the bag for the remainder of the money.
This shit is criminal, no doubt. We are going to discuss this with an attorney and see what can be done. Beings we pay the insurance separate, we may just stop until they pull their heads out of their criminal asses.
We should just get up and walk away, but we like the home, even though we are taking a killing, but there has to be some point when I or others just say fuck the bank and move on. It truly is a sad state of affairs for many people in this country.