[SCBeaches]

What I don't get is why do they have an RV yet they can't afford their house payment? Did they not think of selling the RV??? H-E-L-L-O????

[pslOldTimer]

Originally Posted by SCBeaches

What I don't get is why do they have an RV yet they can't afford their house payment? Did they not think of selling the RV??? H-E-L-L-O????

The article said it was for sale. It is a 1983 model the article described as "memory filled"; no doubt they bought it when times were better. As a 1983 Tioga Class C RV, it's not worth much, today -- probably about $4,500 to $6,000 for a really clean unit.

[munchie]

jeanj28,

as one of the native floridians that left the state , please let me inform you about the wages up here in north ga . hubby w/masters in ed from usf- pay in pasco co , fl - 37,900.00 pay in n,ga -51,000. pay for me (also working as a data entry for pasco schools) 9.55 per hour - n.ga 13.00 an hour .
yes we have a state tax ,we got all of it back except 100.00 bucks. yes we bought a house for 169,000 brand new on an acre , 3000 sq ft - highest electric bill in feb (heat) 167.00 -water -20.00 taxes 900.00 ins 455.00 a year. lowest electric bill 57.00 in aug . lowest water bill still 20.00. cable - 45.00. so you do the math , it is better and more affordable up here.

and yes i do miss my family and friends and the once great state of florida. but we can live much more comfortable here for the $ . if the pay would go up and the housing ,ins and taxes down , we would love to come home. but i do not expect it too- actually it will get worse and god forbid the ins if another hurricane hits florida

[masc243]

Originally Posted by NatureCoastFL

From the lee county property appraiser:

Sales history:
241,000 7/21/2006 2006000293213 06 Qualified
117,900 5/27/2004 4317/7 08 Disqualified
91,100 4/19/2004 4263/300 03 Disqualified
76,500 5/21/2001 3416/3064 08 Disqualified

From lee county clerk of court:

1st mortage is 192,800.00 - 30 year adjustable, Initial rate 7.8% First adjustment, august 2008 (5.4% added to LIBOR avg)- PLUS a 2 year prepayment penalty. So even if they sell to avoid foreclosure, they will be hit with this.

2nd mortage 48,200 - 15year, ballon mtg

all info is available online, and was obtained using public website access to lee county's official websites.

One man's fortune is financed by another's perception of future value. If this home were to shoot to 350k, even though they could not make the patments, we would not have a story; at least for another year...

[riveree]

Originally Posted by NatureCoastFL

From the lee county property appraiser:

Sales history:
241,000 7/21/2006 2006000293213 06 Qualified
117,900 5/27/2004 4317/7 08 Disqualified
91,100 4/19/2004 4263/300 03 Disqualified
76,500 5/21/2001 3416/3064 08 Disqualified

From lee county clerk of court:

1st mortage is 192,800.00 - 30 year adjustable, Initial rate 7.8% First adjustment, august 2008 (5.4% added to LIBOR avg)- PLUS a 2 year prepayment penalty. So even if they sell to avoid foreclosure, they will be hit with this.

2nd mortage 48,200 - 15year, ballon mtg

all info is available online, and was obtained using public website access to lee county's official websites.

Clearly, this couple was sold on what the monthly payment would be...just like some people are when shopping for a car.

A LIBOR is a fairly sophisticated mortgage based on London rates. It has it's benefits, but not for the stupid.