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SVTPerformance's Chain of Restaurants
Road Side Pub
Housing Options
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<blockquote data-quote="tistan" data-source="post: 16578840" data-attributes="member: 26495"><p>What I learned from the last housing crash. I did everything right and put 25% down and bought what I could afford. When the market crashed, the banks renegotiated all the upside down mortgages. People who just walked away were able to buy homes in 2-3 years. Since I wasn't upside down on the mortgage, I got to keep paying the bill on my home that I was now $60k upside down on in equity, and I was stuck in a home for 5 years longer than I wanted to be there and i still lost about $20k when I sold it. Now, I put the bare minimum down and when this thing crashes again, I'll look for my bail out.</p></blockquote><p></p>
[QUOTE="tistan, post: 16578840, member: 26495"] What I learned from the last housing crash. I did everything right and put 25% down and bought what I could afford. When the market crashed, the banks renegotiated all the upside down mortgages. People who just walked away were able to buy homes in 2-3 years. Since I wasn't upside down on the mortgage, I got to keep paying the bill on my home that I was now $60k upside down on in equity, and I was stuck in a home for 5 years longer than I wanted to be there and i still lost about $20k when I sold it. Now, I put the bare minimum down and when this thing crashes again, I'll look for my bail out. [/QUOTE]
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Housing Options
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