Yeah, well, sounds like you and I go on the same rant. I'm not even ranting because I'm an aggrieved deficiency defendant; it's just the principle of the thing that offends me, if you can believe that, utterly unrelated to my personal financial liability. Nobody in my position should be getting boned from all sides simultaneously when the banking sector, enabled by the easy-money Fed, caused the whole phenomenon.
Of course, an aggravating factor in this case is that Atlanta was understood to have a massive glut of condo development even before the subprime price collapse. That's why condos in Atlanta still haven't recovered to anywhere near pre-crisis levels, unlike freestanding houses. As of last summer, my unit was worth 48% less than I paid for it. The point being, I was paying $1400/mo in mortgage (mostly interest) (+$300-$400/mo in HOA dues!). A qualified buyer can finance my place for $85K at like $350/mo now! :-) And I'm the one getting sued.
Of course, an aggravating factor in this case is that Atlanta was understood to have a massive glut of condo development even before the subprime price collapse. That's why condos in Atlanta still haven't recovered to anywhere near pre-crisis levels, unlike freestanding houses. As of last summer, my unit was worth 48% less than I paid for it. The point being, I was paying $1400/mo in mortgage (mostly interest) (+$300-$400/mo in HOA dues!). A qualified buyer can finance my place for $85K at like $350/mo now! :-) And I'm the one getting sued.