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12-05-2009, 02:53 AM #1
Anyone else "underwater" on their mortgage ?
I paid 78 for a 2 bedroom condo in a 55 year or older only community in 2004. In 2006 it was worth about 125 to 150. Now it is @ 50 if I'm lucky and I owe 70.
Not that big a deal for me if I can keep up the mortgage (30 year fixed) because I bought it figuring to stay until I croak. OTOH, it felt good when it was worth more on paper than what I owe. Anyone else in this situation that cares to admit it ?
Be careful how you treat people on your way up, you may meet them again on your way back down.