News for hackers. Stuff that matters.

A comment on Rich more likely to walk away from mortgage. Parent comment

Re:Rich more likely to walk away from mortgage by jdminhbg on Friday July 09, 2010 @01:42PM (#1501474)
If she can afford payments on a $400k mortgage (around $3k/month or so?), then yes, she is (or was) wealthy by the standards of the vast majority of America.
[ Parent | on HN ]
Re:Rich more likely to walk away from mortgage by izend on Friday July 09, 2010 @02:06PM (#1501576)
$400K mortgage at 5 year variable of 1.90% and 25 year amortization is only $1,674 per month.

This is exactly why low interest rates are quite dangerous...

[ Parent | on HN ]
Re:Rich more likely to walk away from mortgage by mattmiller on Friday July 09, 2010 @02:02PM (#1501565)
Ya, but she is in California. Her costs are much higher and I bet she does not feel wealthy.

An American homeless man making $5/day in change is wealthy compared to much of the world.

[ Parent | on HN ]
Re:Rich more likely to walk away from mortgage by xsmasher on Saturday July 10, 2010 @01:12PM (#1503968)
She has more liabilities than assets. She may have a high net income, but she's not wealthy.
[ Parent | on HN ]