I know a guy who lives over there and its a nice house, but not as nice as the house the guy i know lives over there. From what I understand, his mother needs cancer care and he's selling assets to help her. Paying a mortage when you have that kind of money is dumb anyway.
If you're interested in what the house looks like. Also, Texas is a non-recourse state but lenders can still seek deficiency statements. Which means they can still go after you. Now the likelihood of it is another matter. Spoiler
Of course it's fair, why would it not be fair? There is no guarantee property values will rise or even remain equal to the purchase price. The property values on the entire block probably dropped as soon as he purchased the property. Who wants to live next door to a rapper?
This is why the government should have given the money to the citizens instead of the banks. Just make it to where the bailout monies had to be used to pay down mortgages.... That way the banks still get the money, and credit loosens up...... Oh well.....opportunity lost. DD
