Jumbo Prime Loans Going Bad at a Rapid Rate

Reader Comments
Back to blog

Many people who bought 800,000 home would have loved to purchase a 300,000 home. The difference was price appreciation fueled by crazy mortgages that made the bubble possible!!! I purchased a home for my daughter south of San Diego in 2005 for $283,000 new construction. 18 months later I sold it for $525,000 in 2 weeks. I had to review 15 offers. The market was insane.

Wayne Landon of IL 12:27PM March 04, 2009

AS the housing sector was allowed to be demolished, jobs in every sector were lost. Lost jobs, lost income, delinqent debt.
Delinquent debt, foreclosures, lost profit, huge losses.
Why didn't this problem start being resolved 3 years ago?
People with years and years of excellent credit have lost jobs. Self-employed people in every industry have lost income. No wonder mortgages are going unpaid.
Nothing is worse than not being able to earn a living.

common1sense of WA 11:48PM February 26, 2009