Saturday, October 11, 2008

Linda Minnifield

Linda Minnifield, Average Alt-A Debtor
I added Linda as an example of the upcoming Alt-A debacle. Watch the video. She is so underwater that the only logical action for her is to walk away. What do you think?

1343 7th St, Rodeo, CA
Zestimate: $306K
Sale History 12/02/2004: $455,000

Here are nearby houses for sale:
507 Sonoma; Price: $250K
438 Vallejo; Price: $214K

Mortgage Meltdown Fears Persist
Her 'good credit' allowed her to buy the house for $455K. I wonder if she had 'good income'.
$455K/3 = $152K (I think Dr. Housing Bubble would love this case.)

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