The other side
The same holds true (frequently) for mortgage loan contracts; particularly when considering the subprime, HELOC, and "stated income" loan markets.
Even in its hay day, these systems were broken and short sighted. This fact was ignored because deals were being made and people were making money.
Clearly, the market has changed...but life goes on. Even the unexpectancies.
Today, many people are experiencing foreclosure because of small visions, poor strategy, blind trust in a selfish system, and limited information. Still, there are probably just as many who fall victim of circumstance. A lost job. A catastrophic illness. Divorce., etc.
Depending on which area of the country a property is located...$500k could be a palace or a pit. In Los Angeles County, so far as single family homes go...you can expect $500k to buy either a 2 hour commute to and from work (each way) or awakened senses and investments in bulletproof products.
Follow Ups:
Subject :
