Quote:
Originally Posted by Eagle
While I feel very sorry for this homeowner and his predicament, one has to consider that a home is not a piggy bank.  |
I have to agree with this statement, so many people did this. If you read the Registry Review, probably more than 95% of the foreclosure list have mortgage dates of 2003 or later.
I guess I would like to know why he was still looking to build the garage with the third refinance when it was one of the reasons for the first refi (he could have just said that I know, but the reporter is not helping this guy by writting it that way). He pulled $205,000 out of equity, where did all that money go.
