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Kevin Martin defaults on mortgage

Discussion in 'Houston Rockets: Game Action & Roster Moves' started by blunto, Oct 15, 2010.

  1. DJ

    DJ Member

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  2. Hayesfan

    Hayesfan Contributing Member

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    The housing market totally stinks... I guess even those with money aren't immune to the issues.
     
  3. FLASH21

    FLASH21 Heart O' Champs

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    Man, two identical posts at the exact same time. :eek:
     
  4. Mr. Clutch

    Mr. Clutch Contributing Member

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    He's probably way underwater and is just gonna walk away. Not a big deal.
     
  5. Title99

    Title99 Contributing Member

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    I live in Lincoln, CA currently, which is about 10 minutes from this house. My uncle lives right across the street from Kevin's house. Kevin was always really cool to everyone in the neighborhood. We would always take our kids to his house on Halloween. He was never there but his girlfriend would always hook the kids up with big, full sized candy bars. They were great!
     
  6. gifford1967

    gifford1967 Contributing Member
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    We just moved to Sacramento and are about to buy a house. The housing market here over the last five years has been nuts. My brother-in-law bought his house for 490,000 in '05. It's now appraised at 270,000. The timings good for us, but I feel for all the people here who bought at the height of the bubble.
     
  7. REEKO_HTOWN

    REEKO_HTOWN I'm Rich Biiiiaaatch!

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    Sounds like a business decision.

    The housing bubble in California is ridiculous. He probably owes 3X what the house is worth.
     
  8. DaDakota

    DaDakota If you want to know, just ask!

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    Big deal, it is a short sell negotiation.

    If banks can be bailed out, so can people.

    DD
     
  9. Bandwagoner

    Bandwagoner Contributing Member

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    Banks paid back their bail out.


    this makes me like Martin less. Although I was already wishing he was traded.
     
  10. AggNRox

    AggNRox Member

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    i guess now you found your house. i have no doubt km would love you to buy his house at $1.9 mil. :grin:
     
  11. NJRocket

    NJRocket Contributing Member

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    Wow....just think of how pissed he;s gonna be when he defaults on his Houston house when we ship him to Denver...
     
  12. DCkid

    DCkid Contributing Member

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    In this particular case, how can the bank not sue him with all the money he makes?
     
  13. johnstarks

    johnstarks Member

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    Housing market sucks. I understand when people walk away when the bulk of their wealth is locked up in an underwater mortgage and they've already lost all their equity. But if you've got the means to pay off the mortgage, e.g. if your annual salary is 5x the full value of the mortgage, just pay it off. I know it's not the rational thing to do, but it's the right thing. It makes it harder for people who really have lost their nest egg in the housing crisis.
     
  14. Raven

    Raven Member

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    Aren't half of all mortgage defaults in California?
     
  15. FLASH21

    FLASH21 Heart O' Champs

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    Wow, really dude??? :confused:

    I'm really hoping my sarcasm meter is on the fritz with this one.
     
  16. DaDakota

    DaDakota If you want to know, just ask!

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    It is just business, and if it were not an NBA star player it would not be news.

    I don't have any problem with someone doing what is right for their own finances, that is exactly what the bank would do.

    DD
     
  17. Carl Herrera

    Carl Herrera Contributing Member

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    True superstar like Carm Anthony would not even have had a mortgage. Straight cash, homey!
     
  18. Mr. Clutch

    Mr. Clutch Contributing Member

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    I'm thinking about buying it if another deal im working on falls through.
     

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