Minneapolis owners losing homes at record pace

[AJ]

http://www.startribune.com/462/story/1139927.html

Interested read.

 

[Big Nate]

This is because the average person got a house that was too much for the budget.
O and two word Predatory Lending

 

[dmention7]

Good 'ol fixed rate mortgage FTW.

I'd rather pay a bit extra to get financed through a large bank with a solid reputation than save a few bucks with some fly-by-night joint advertising on internet banners.

 

[JustROLLIN]

I think my post disappeared. I was saying that there are prolly a lot of good deals on housing in that area with all the repos.

 

[AJ]

Great deals actually, most are in the fuck'n ghetto though.

 

[dmention7]

We saw a couple when we were shopping. But the first few we saw were in such horrible shape, we decided to skip over anything being sold by a bank.

 

[JustROLLIN]

Well yeah, I can imagine people who cant afford to make their house payments dont have the best upkeep on the house. But, if you are the DIY type of person, you can probably make a nice profit.

 

[dmention7]

yeah, now is definitely a good time to be looking for an investment property!

 

[mndsm]

Damn and I was thinking about buying a house too. AS cheap as we could live in my apt, we could probably pimp a house out in no time.

 

[dragongirlie]

some people purposely trash the house if they are getting foreclosed on