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2641 Thornhill Drive, San Carlos, CA 94070
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2011 Jan 28, 4:33am 1,202 views 2 comments
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EBGuy
2011 Jan 28, 6:05am
They originally put 20% down; do not pass go, do not collect $200. Well, maybe they did. Refinanced in Nov. 2009 with CitiMortgage and Oct. 2010 with BofA.
Nice homes in San Carlos already back to 2004 prices. Factor in all the money spent on upgrades and selling costs and this homedebtor will be taking it in the shorts hard. That's got to sting after buying in the Real Bay Area seven years ago.
Take away the government-inspired, artificially-high jumbo limit of $729,000 (i.e. leave it at $416,000) and things would have gotten a lot uglier a lot quicker. You and me, the taxpaying public, can be proud we are subsidizing obscene home purchases and prices like this.