Here in Stockton it seems to go round and round. Someone walks away from their home and rents another foreclosed one that has sold and been put up as a rental. Does any of this make sense? I broke the news about our walking away from our house to a neighbor who told me about our newest neighbor who is renting the place across the street; that was his scenario too. Walk away and rent. Just strikes me as kind of crazy, but what are you gonna do (that would be a rhetorical question, I don’t really want an answer, I have that already). Who are the winners in this game of house musical chairs? I’m not sure, but here in Stockton at least I say the renters win. You buy a house at $170,000 in Stockton and you’d better be prepared to wait a long time for any equity.
The house next door has been on the market 21 days and the asking price has already been lowered; they had the initial rush of lookey loos and now it seems pretty quiet over there. Of course. People know that they can find something a little cheaper right around the corner…literally.
IndyMac has been quiet on the calling front ever since we told them on their last call that we would be vacating this place June 1st. Their calling system was interesting. The first calls when we stopped paying were aggressive. IndyMac reps breathing fire and brimstone. A couple months in to this whole thing and we were getting the yawners reading a script. Now that we’ve made our intentions perfectly clear with a specific quit date we get no calls at all. I guess they finally believe what we told them from the beginning.
Five days to the for reals (as George Lopez would say) default.