Tuesday, June 7, 2011

40% of US home ATMS's underwater

Hummm, rates lower, recovery..?, people cant get credit to borrow more against home, 40% of American Dreamers that took our 2nd mortgages now underwater.

Open thread...


  1. My Little Blyght just bought us a vacation house in the super secret getaway for the global elite. It's located in The Lost City of Atlantis... and it's underwater too, but I don't think that's the kind of underwater Agauag is talking about.

    PS I heard My Little Blyght let Poseidon pee on her in the shower.

  2. 66% of vegas homes underwater? lmao. well id be laughing for real if it werent so fucking SAD!

    I used this opportunity to start picking back up some of those TKRFF shares i got stopped out of. Ill be buying all the way down if it keeps headed lower, avging down the price and wait for the good news.

    Wow look at that USDX go! Its such a pretty chart haha. Cmon S&P back to 1314 so i can buy some juicy 130 puts again before you head back down to 1260!

  3. Sucks for them...

    Good thing I'm not in that boat. We had an appraisal done about 2 years ago, and our house is worth $5,000 more than our 30 year mortgage. And that was 2 years ago. It's probably a lot higher now :)

    Serves 'em right for not taking the time to do about 30 seconds of simple math :) Any bank that signed these suckers up or bought these rediculous loans deserve to lose every dollar they lose.

    USD down, AG up. Let's see if it sticks this time.

  4. My town over 85% are underwater. I got my place in 2000, and I'm underwater too. Luckily the bulk of my phyzz was aquired at the $5.50 level, but I cannot resist the shiny stuff showing up in the mail. Sad today 30 pieces used to be a 200 count box of maples.

  5. MOST loans were not to liars and McLoans to greedy over extended Americans. They went to Joe average just trying to make a honest and good life for their family. The Mcloans and liars are doing just fine as they put nothing into it and just walk away. The other 90% who bought with saved cash and work hard, their the ones who are taking the poke...

    Speaking of being poked whats with the mining shares. OUCH