Senin, 12 Juli 2010

"Price Reduced" - What Happens to Mortgage Payments When June's $300k Home Is...August's $285k Home...And October's $270k Home?

Years worth of mortgage payments are lost if the "comparable" home sells at "price reduced" a few months from now--or a house that is already mortgaged loses value.  See charts below, which use as an example a house priced at the "First Time Homebuyer" level of $300k.

Check out Trulia for daily price reductions.  Contracts: April saw a bump up, while May saw a plunge and June's Cville

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