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User Info	16.5% of Home Equity Loans Delinquent; entered at 2007-12-01 23:06:18
Mo Posts: 10309 Registered: 2007-06-26 Florida	I've got a story. I work with a guy who bought an 'investment' home in Lehigh Acres, FL - ground zero for the housing crash in Florida - at the top of the market in the summer of 2005. He used a HELOC on his primary property in Hillsborough County to pay for the Lehigh Acres lot price. He paid $50K for the lot - they're now selling for about $5K. And the homes are being auctioned for less than $100K. He paid $210K. He's still paying the mortgage on the 'investment' every month, at least for now. I'm not even sure how one would get untangled from that. Last modified: 2007-12-01 23:06:58 by mo 2007-12-01 23:06:18