Monday, August 16, 2010


So I just heard back from my lending institution... Apparently they've known since last Wednesday, but have been too chicken to call... It took some prompting from me...


Anyway, so we thought our home had probably lost about $30k since we purchased it a little less than three years ago...

We weren't happy about it, but everyone is hurting, so we're all kind of in the same boat.

Anyway, after some prodding, the guy finally called me back. I sensed it would be bad news simply because of that...

Turns out that our home got appraised for less than 80% of what we paid for it. And we worked with the appraiser when we bought it to get that initial value as low as possible.


That also means that I think we're officially upside down in our home as well.

I joked to the banker about walking away and letting the bank take the hit.

I don't think he was amused.

On the plus side... I can now use this to contest my property taxes!

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