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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Who's responsible for market timing error? Posted by CC in OC on April 15, 2009 at 10:46 AM In Reply to: Isn't this what the bank have done? posted by Frank on April 15, 2009 at 7:01 AM The property owner, of course. After all, if the property continued to appreciate, the bank wouldn't have its hand out to share in the profit. Neither should you have your hand out for the bank to share your loss. If you can afford the payment, the honorable thing is to continue paying regardless of the current value of the property. If you juiced the property of its equity (cash out refinance), you should repay the bank what it gave you when it (apparently erroneously) thought you would repay. Otherwise, you just stole from the bank as surely as if you walked into the bank with a gun and held it up. If, due to business reversal, job loss, sickness or death, you can no longer afford the payment, and you haven't juiced the property, you've got a business decision to make. How does what "large institutional lenders do" have any bearing on what you should do? Follow Ups: Too big to fail!? Frank 1:20 PM, 04/15/09 (0) Post a Followup: Name : E-Mail : Subject : Comments: : The property owner, of course. After all, if the property continued to appreciate, the bank wouldn't have its hand out to share in the profit. Neither should you have your hand out for the bank to share your loss. : If you can afford the payment, the honorable thing is to continue paying regardless of the current value of the property. If you juiced the property of its equity (cash out refinance), you should repay the bank what it gave you when it (apparently erroneously) thought you would repay. Otherwise, you just stole from the bank as surely as if you walked into the bank with a gun and held it up. : If, due to business reversal, job loss, sickness or death, you can no longer afford the payment, and you haven't juiced the property, you've got a business decision to make. : How does what "large institutional lenders do" have any bearing on what you should do? [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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