New Condos Downtown San Diego - Mr. Bubble

When I saw this cartoon on Joseph Ferrara's  real estate blog, I just had to show it on our site.  This is such a true statement about the state of the mortgage and credit market.  it is an unfortunate state of affairs in today's market.  We know first hand how the mortgage and credit market affects so many people. 

Victoria owns her condo.  It is a great condo purchased in the seller's market of a few years ago.  The original mortgage was one of the easy qualifying loans, a ticking time bomb.  Victoria's loan is making an adjustment this October.  The payment is jumping $1600 a month.  Yes, I said and additional $1600 per month.  That's a knee knocker to say the least.  We have been reviewing all the options.  There is no good solution, just the lesser of two evils.

What is Victoria going to do?  Stay tuned and we will let you know.   We haven't decided as of today.  We are looking at the options.  If you are going thru a similiar situation, we totally understand the situation.  If you want to review your choices, give us a call or send us an email.  We may have some ideas for you. 

By Sharyn & Victoria Crown, Downtown San Diego real estate agents

This is part of a series of articles entitled, New Condos, Downtown San Diego Style