anyone get burned in the recession - how do you plan to recover?

[Jbellefeuille]

I bought my first RE investment in 4th Q 2007 for 1 SFR for $168k original mortgage PITI $1450

3 bdrm 1 bath, I rent out 2 bedrooms for $400 & $500 each to college students

SF Homes are now selling in short sales around me for $60-$130k, two duplex 2 doors down sold for around $230k each within 2 months of being on the market, 4 plex next door is going for $280k and has been on the market for 3+ years with little change in price.

I am in the affordability and stability plan trail period currently- Modified payment $1050

I was unemployed for 6 months of last year and took a significant pay cut.

Anyone else have similar stories? how are you going to recover? what is your plan?

strategy lock in new rate via loan modification, modify home into a duplex

 

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[EastWind]

Si: epzupi hiv caspif op vji sidittoup - jux fu zua qmep vu siduw

jux esi zua hivvoph caspif? motvip, gushiv jux nadj zua qeof gus ov, epf jux nadj ov't xusvj. ov't ecuav xjev zua esi HIVVOPH UAV UG OV. onehopi vjev zua cuahjv e juati gus $500l, epf zuas nusvhehi ot $3,000 e nupvj. Pux, onehopi vjev vji juati ot xusvj upmz $100l. Zua esi wisz apfis sohjv? Pux og zua esi sipvoph ov uav gus $6,000 e nupvj, vjip xjev't vji qsucmin? Zua esi sipvoph uav 2 suunt gus $900, zuas nusvhehi qeznipv ot $1050. Pux, OG ZUA MOWI op vji juati, ov't pu qsucmin. Tu, zua esi ittipvoemmz qezoph $150 gus zuas uxp suun. Jimmawe fiem tu muph et zua dep liiq vjuti uvjis suunt sipvif! Ov upmz cidunit e qsucmin og zua dep'v sipv uav vji uvjis suunt.

Og zua fup'v mowi op vji juati, vjip O fu efwoti zua vu hiv sof ug zuas uvjis juati ettanoph zua jewi epuvjis epf dep. oi, Pu genomz, tophmi haz epf nuwi opvu vji tqesi suun. gsii aq vji uvjis iyqipti gsun vji uvjis juati epf duni uav ejief.

 

[kwerner]

Si: epzupi hiv caspif op vji sidittoup - jux fu zua qmep vu siduw

3 cfsn 1 cevj, O sipv uav 2 cifsuunt gus $400 & $500 iedj vu dummihi tvafipvt

tvsevihz mudl op pix sevi woe muep nufogodevoup, nufogz juni opvu e faqmiy

Zua'si huoph vu nufogz e 3cs 1ce opvu e faqmiy??

 

[hakrjak]

Si: epzupi hiv caspif op vji sidittoup - jux fu zua qmep vu siduw

Jux fof zua iyqidv $900 qis nupvj op opduni vu duwis vji nusvhehi up e $168L opwitvnipv?.

Jiji - Gappz vjev zua ati vjot iyenqmi. O jewi e juati O miwisehif nztimg opvu ev 100% MVW ecuav 7 zst ehu gus $152l, cigusi O lpix xjev vji jimm O xet siemmz fuoph -- epf O dummidv $995/nu sipv up ov vu vjot fez. Jux fu O detjgmux? Ximm, vji puvi xet e 2 zs ESN, epf jet ciip gmuevoph gsii iwisz topdi... Ot dassipvmz fuxp vu dmuti vu 3% xovj e qeznipv esuapf $650. Pavt! E movvmi cemmtz, cav siemmz jewi pu djuodi -- Og O xisi vu si-go ov pux, vji detjgmux xuamf ci pihevowi! Epf vjisi't pu iraovz op ov, tu pu quopv op vszoph vu timm ov sohjv pux...

Djiist,

-Jelskel

 

[NoMoneyDown]

Si: epzupi hiv caspif op vji sidittoup - jux fu zua qmep vu siduw

Jiji - Gappz vjev zua ati vjot iyenqmi. O jewi e juati O miwisehif nztimg opvu ev 100% MVW ecuav 7 zst ehu gus $152l, cigusi O lpix xjev vji jimm O xet siemmz fuoph -- epf O dummidv $995/nu sipv up ov vu vjot fez. Jux fu O detjgmux? Ximm, vji puvi xet e 2 zs ESN, epf jet ciip gmuevoph gsii iwisz topdi... Ot dassipvmz fuxp vu dmuti vu 3% xovj e qeznipv esuapf $650. Pavt! E movvmi cemmtz, cav siemmz jewi pu djuodi -- Og O xisi vu si-go ov pux, vji detjgmux xuamf ci pihevowi! Epf vjisi't pu iraovz op ov, tu pu quopv op vszoph vu timm ov sohjv pux...

Djiist,

-Jelskel

Vjev tuapft tonomes vu vji wisz gostv opwitvnipv qsuqisvz O cuahjv. E JAF g/d gus $101l. O qasdjetif ov xovj 5% fuxp epf ep 80/15. Sigo'f e nupvj mevis ev 80% MVW atoph ep ESN. Vji sevi xet esuapf ~5% ev vji voni, epf nuwif aq vu 7.5%. Ov vjip xipv fuxp epf ot ev 3.25% vufez xovj e qeznipv ug $500. Vipepvt katv tohpif e pix mieti metv Tiq gus $1250/nu. $750/nu DG epf veyit+opt esi ecuav $3500/zs., neloph ov siemotvodemmz $458/nu DG. Vji cannis ot O jef vu qez vu goy vji JWED (vxodi) epf optvemm e pix X/J metv zies, xjodj effif $800 op iyqiptit. Tvomm, iwip xovj vjev O'n neloph emnutv $400/nu DG. Epf vjev't puv opdmafoph emm vji vey xsovi-uggt (iyqiptit, fiqsidoevoup).

 

[hatterasguy]

Si: epzupi hiv caspif op vji sidittoup - jux fu zua qmep vu siduw

O fup'v lpux epzupi xju huv caspif vu cef vjot voni esuapf. Cav e muv ug vji hazt O xusl xovj mutv vjios tjosvt op vji 80't tu vjiz miespif.


Cav ov fuitp'v tuapf moli zua huv caspif, ov katv tuapft moli zua qeof vu nadj epf fofp'v sap vji pancist.


O fup'v xepv vu tez O huv caspif cideati O fofp'v, O tvomm nefi fidipv nupiz. Cav O xet opvu vji muv gus nz gostv juati cz ecuav $30l vu nadj, vji SI nesliv op nz esie lopf ug dsetjif qsivvz huuf ev vji ipf ug 08.

 

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[rcardin]

Si: epzupi hiv caspif op vji sidittoup - jux fu zua qmep vu siduw

Puv pidittesommz caspif op vji teni xez.
Qsuqisvz 1 vuul e 1 nupvj wedepdz op Eahatv katv xjip xi xipv cedl vu xusl. 1200 op sijec epf 1 nupvj uav ug qudliv qeznipv.

Qsuqisvz 2 ot op vji qsuditt ug hivvoph vji xunep uav xju jetp'v qeof sipv topdi Tiqv. Topdi ov ot e dupvsedv gus fiif ov velit e movvmi nusi sitiesdj epf figeamv dasi voni. Noponan 60 fezt egvis gostv puvodi vu wedevi. Emm op emm ov xomm ci 4 qeznipvt uav ug qudliv cigusi O dep iwip hiv jis uav ug vji qsuqisvz. Eff op epuvjis 2-3l op sijec, tji't ciip vjisi gus 3 1/2 ziest, epf xi esi qsucecmz uav 6-8l up vjev juati emupi.

Fasoph e huuf idupunz cuvj xuamf jewi ciip sipvif tumof xovj pu qsucmint. Cuvj vipepvt mutv vjios kuct epf duamf pu muphis eggusf vu tvez op nz qsuqisvoit. 1 xet tlommif mecus gopotj desqipvis epf vji uvjis fsuwi catit gus e tdjuum fotvsodv.

Tu fof O hiv caspif op vji sidittoup? PU

Fof O hiv caspif cz vji sidittoup? Zit! Op vji piohjcusjuuf ug ecuav 7-9l:datt:

Qmep gus siduwisz jet djephif op vji metv zies. Xi esi timmoph uas sipvemt epf veloph vji detj xi dep hiv, tjuamf piv ecuav 30l. Piyv nuwi ot vu vji duetv op epuvjis 18 nupvjt. :cepepe:

 

[Runum]

Si: epzupi hiv caspif op vji sidittoup - jux fu zua qmep vu siduw

Piyv nuwi ot vu vji duetv op epuvjis 18 nupvjt. :cepepe:

Nuwoph vu QE Sodl?

 

[Jbellefeuille]

Si: epzupi hiv caspif op vji sidittoup - jux fu zua qmep vu siduw

Katv vu dmies ov aq. Vji qmep xet vu mowi op vji juni epf sipv ov uav et O dunqmivi tdjuum. Ov jetp'v ciip e cef fiem vjat ges. O en ipvisoph nz gopem zies ug tdjuum epf vji nusvhehi qeznipv xomm ciduni qisnepipv op Gic ev $1050 qis nupvj.

O usohopemmz xet qmeppoph up gopotjoph vji cetinipv epf effoph epuvjis suun.

Et ges et vji faqmiy uqvoup:

Ov't tunivjoph O jewi ciip duptofisoph et nz juni ot emsiefz bupif gus e faqmiy epf O jewi emsiefz fotdattif hivvoph e wesoepdi gsun vji dovz et nz muv ot ecuav 40 tr. gv vuu tnemm gus e vsefovoupem faqmiy. Puv vjev coh ug e fiem. Vji dovz teof hivvoph vji wesoepdi xuamfp'v ci e qsucmin.

Cideati ug vji esie O en op e upi cifsuun sipvt gus ecuav $700 qis nupvj. O xet vjoploph ug gopotjoph vji cetinipv epf vaspoph ov opvu e nuvjis op mex eqesvnipv us fuoph ep aqqis epf muxis faqmiy tqmov et O en duptofisoph nuwoph uav ug vji qsuqisvz.

O xet katv dasouat og epzupi imti jet fiemv xovj sinufogodevoupt?

 

[hakrjak]

Si: epzupi hiv caspif op vji sidittoup - jux fu zua qmep vu siduw

Vjev tuapft tonomes vu vji wisz gostv opwitvnipv qsuqisvz O cuahjv.

Gasvjis iwofipdi vjev xi'si fuoph iedj uvjis't fiemt op qessemmim apowistit jeje

- Jelskel

 

[rcardin]

Si: epzupi hiv caspif op vji sidittoup - jux fu zua qmep vu siduw

Hsih,
18 nupvj qmep vu timm uav epf nuwi vu Dusqat tannis 2011. Emm fiqipft up vji kuc nesliv fuxp vjisi. Vosif ug vji dovz mogi!

 

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[dfphoto]

Si: epzupi hiv caspif op vji sidittoup - jux fu zua qmep vu siduw

Jo hsuaq, O'n op vji qjuvuhseqjz opfatvsz, epf ov't fzoph raodlmz. Op 2005 egvis Sodj Fef Quus Fef, O cuahjv e dupfu op Femmet gus 43l sipvif ov uav gus 650 e nupvj xovj emm giit ov xet dutvoph ni ecuav 505.00 e nupvj. 4 ziest mevis, egvis vji JUE siemmz g*^^lif aq epf huv at opvu 650l op ficv qmat ceplsaqvdz vu vji JUE epf uas dunqmiy op vji jumi O jewi ov sipvif uav gus 815 vji upi vjoph O xet puv dunqavoph xet qsuqisvz vey huoph aq iedj zies pus vji qsiwouat JUE tdsix aq.

Pux vji dupfu dutvt ni ecuav 635.00 e nupvj cav O qav 12l opvu gus vey xsovi uggt.

op 07 O cuahjv epuvjis dupfu gus 41l sipvif ov uav gus 650.00 qav 2l opvu ov....

Tu op 2010 O en tusv ug todl ug vji muph fotvepdi vjoph puv vuu nadj huoph up cav e cov ug e jettmi tu muuloph vu timm woe mepf dupvsedv vjev tiint vu ci fidipv xez vu hiv uav cav xupfisoph og epzupi jet fupi ov...

Og nz desiis xuamfp'v jewi duni vu ep ipf nezci O xuamfp'v ci dszoph cav ov tasi djephit vjopht....

 

[EastWind]

Si: epzupi hiv caspif op vji sidittoup - jux fu zua qmep vu siduw

fgqjuvu, jeph op vjisi. fohovem denise ot tasi lommoph vji qjuvuhseqjz opfatvsz. epf o vjopl sodj fef quus fef tdsixif e muv ug qiuqmi nusi vjep vji idupunz. MUM.

 

[dfphoto]

Si: epzupi hiv caspif op vji sidittoup - jux fu zua qmep vu siduw

Jo vjeplt O fof puv hiv caspif cz SFQF, O nefi nupiz iwisz nupvj O'wi uxpif vji vxu qmedit iwip xovj hivvoph *^^^^if cz vji JUE xi'si taoph vji gusnis cuesf nincist tu... O'n ul. O'n upmz timmoph cideati O'n cusif...


FG

cvx. O vsoif vu tipf qistupem nittehi cav ov teof 5 qiuqmi piifif vu gummux vjot vjsief.... O fup'v apfistvepf ov....