6 Panorama
Geez, what do you call it when you have two opposite feelings on the same issue? The present owners of 6 Panorama originally bought this home from the builder, Toll Brothers in 1998 for $734,500. They took out some seconds and refi’ed, the last refi being a ARM first which reset on July 1, 2009 and possibly recast on the same date.
On the one hand, I wanna feel sorry for these folks losing their home of over ten years that they bought new, and probably watched being built.
On the other hand, I get irritated that anyone who could afford this home over ten years ago could be so stupid as to refinance themselves out of such a nice home.
I have been watching 6 Panorama, hoping against odds that somehow the owners would pull one out of the hat and get current on their payments.
The auction is scheduled for July 16, this Friday and it has already been postponed three times. Will the bank go for 4 or 5 postponements? I dunno. The max I have seen is four. Oh well, when this property does come on the market, maybe another nice family will purchase it with money they afford to buy with, and/or a loan they afford to pay back.
Coto Housing Blog » This Week in Foreclosures
July 30th, 2009