[Jims5543]

A little why our Economy is tanking 101 for you.

The owner if this house is in a 2 year old home purchased in 2007. This house was purchased in 2001. It is a 1999 construction home best I can tell.

Seeing what I have seen these last few years, I am willing to bet this guy bought the house with the boat in the yard in 2001 and leveraged it to the max.

Then he purchased the new home in 2007, then walked away from the 2001 house leaving the bank to take it with a mortgage off the scales.

I am willing to bet this house will turn up foreclosed on very soon, I am also willing to bet there is a nice new boat outside the 2007 home.

The house I was standing at has been abandoned I am very sure of it. In a matter of time there will be a real estate sign out front with a foreclosed sign on it. This one will probably sell for 60-70K and it probably has 300K+ mortgaged against it.

The 2007 homes was purchased for 200K in 2007.

If I am wrong I will let you know but I have seen this scenario play out too many times.