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i hate to point out the obvious but if it's secured by r/e then it's a mortgage. doesn't really matter what the terms are.
my rule is this; 20yr amort. must be darn near covered by easy to get rent (not pie in the sky projections) and i must be willing to drop a hundred or two/mo for taxes, etc.
agree find a local bank and show them the above figures.
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Well i had #6 adjusted perfectly but then just before i tightened it a butterfly in Zimbabwe farted and now i have to start all over again!
I believe we all make mistakes but I will not validate your poor choices and/or perversions and subsidize the results your actions.
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