Truly it is not affecting the ';price of all mortgages';.
It doesn't affect the debt, only the asset.
Yes, all our homes have lost value.
And yes, thanks to Congress and their open checkbook, they are now encouraging people to do the wrong thing and walk away.
Nothing has changed in my house just because the value of houses has changed.
When I signed my mortgage I agreed that my house was worth ';X'; and I agreed to make my payments on the debt.
Nothing about that has changed at all.
Is the current economic meltdown affecting the prices of all mortgages in America, or just the bad mortgages?
The way it has affected our mortgage is this. We were able to refinance to a lower percentage, our house value has dropped but we still owe the original amount that we started with. So I don't know if that answers this question, but it may give some insight to how it has affected someone. Other than these things, nothing has changed. We pay a little less monthly.
well i think its just the bad ones.....for now, because its going to start a chain and will eventually effect even the higher mortgages.
I think you are more affected if you don't have a fixed rate mortgage.
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