We want to hear the precise reason why you purchased and your exact thought process every step of the way when you took out new loans. You have no problem digging into others reasons and situations in excruciating detail so please do the same or stop asking others to do so…[/quote]
For the record, I took out ONE purchase-money loan and I still have it. Why am I NOT underwater now? I’m one of those few (…drumroll…) who put an excess of 30% down, I’ve made a few strategic improvements along the way and my home is NOT the same age as the rest of my ‘hood. It was gutted and rebuilt about 19 years ago and was designed by a local architect.
With a few more minor repairs, I believe I will be able to recover my downpayment + a co-broke fee (and if I’m lucky, perhaps more) in a few years. If not, I’ll rent it.
Renting at the time would have cost me at least $1500 mo for the 3 bdrms I needed and I also had pets.
I have much more square footage and a large yard for $1200 mo P&I.
How about YOU, sdr? How many times have YOU refied “cash out?” And why aren’t YOU renting??
