![]() "Responsibility" is sitting through that ridiculous feeding frenzy and renting until 2013, and then scooping up the spoils for $200k less than some sucker paid in '07. "Responsibility" is not taking out a dodgy loan on a McMansion you can't afford, like lots of greedy, aspiring homeowners did. Tim my boy, "responsibility" is not giving dodgy loans to people you know have no real chance of paying them back, like the greedy banks did. WTH is wrong with people (like you John) that think it's okay to shirk responsibility? You signed up for the loan you pay the loan. "They were just no longer willing to see the value of the property drop." "They were able to comfortably cover the loan," Bremner said. He decided to stop paying his $3 million mortgage - even though he could easily afford it - when the value of the property had dropped to $2.5 million. That means the loan is secured solely by the property, and banks cannot go after a delinquent owner's wages or other assets if they default.īremner said she helped a client buy a Beverly Hills mansion last year that the prior owner had bought for over $4 million. states where primary mortgages made by banks are "non-recourse" loans. Strategic default is an especially appealing option in California, one of only a handful of U.S. She said she had seen in Beverly Hills a big increase in "strategic defaults," in which owners who can still afford to make their monthly mortgage payment choose not to because the property is now worth so much less than the giant loan used to buy it during the housing bubble. ![]() "I go to cocktail parties and all people are talking about is whether it is time to walk away, although they will never be quoted in the real world." "It's a business decision, not an emotional one which it is for normal people," said Deborah Bremner, owner of the Bremner Group at Coldwell Banker, which specializes in high-end properties in the Los Angeles area. Many are walking away not because they can't pay, but because they judge it would be foolish to keep doing so. The majority of delinquent homeowners here owe more than $1 million. ![]() foreclosure crisis, Beverly Hills-style.īut the dynamics of the residential real estate collapse are very different in elite neighborhoods such as this. I highly recommend this place and you would not regret ever.You really can afford to pay, so shouldn't you? Ethical? Should the wealthy be able to walk away? Honestly, food in here is delicious that it could pass as a food from an expensive restaurant. Prices are also fair and reasonable and choosing to eat here for lunch is a really nice option instead of going somewhere expensive. They have huge selection on their menu everything is literally in there, everything that you could ask for your lunch is available in there. "If you are looking for a lunch spot then I highly recommend this place! We had our lunch in here and the place is really nice with cozy vibe, the service is great staff is friendly and helpful with all our needs, food did not take long and most importantly food is delicious! I really enjoyed our lunch in here. This is a review for american (new) restaurants in Chicago, IL: ![]() What are people saying about american (new) restaurants in Chicago, IL? ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |