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Cars & Coffee Killer
Join Date: Sep 2004
Location: State of Failure
Posts: 32,246
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Subscribed.
I'm in exactly the same boat. I did an FHA AmeriDream loan with what amounted to 100% financing.
Based on the minimum I think my house would sell for, I'd walk away with 12% equity, but that would drop to 5.5% after realtor comissions on a sale.
The wife and I want a bigger place, but I don't want to take a leap until the number work in a worse-case scenario. The good thing is the longer we wait, the better the numbers get (more equity and hopefully more capital gains).
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Some Porsches long ago...then a wankle...
5 liters of VVT fury now
-Chris
"There is freedom in risk, just as there is oppression in security."
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