Do it. With a 0% down loan you’ve essentially got a no-risk option on the condo. If it goes down, walk away. If it somehow goes up, you can sell it and keep the profits. Plus, if you decide to walk away, you can stop paying the mortgage and it will probably take several months before the bank actually evicts you (free housing, just like in the Army!) There is also the possibility that the federal government will refinance you at a lower rate in the future. Not to mention that you get the wife off your back. I can’t see a lot of down side here.
Actually, you should talk to a lawyer before you buy to see if you would have any liability should you choose to walk away in a year or two. Good luck!
