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Reply #52: "your fucking house" [View All]

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SoCalDem

(1000+ posts) Send PM | Profile | Ignore

Tue Nov-01-11 03:24 PM
Response to Original message

52. "your fucking house"

Edited on Tue Nov-01-11 03:25 PM by SoCalDem

is not YOUR house until you have paid for it..in full..

If you take out a 200K MORTGAGE on it and move in, you are just "renting" it until you have made that final payment. You "miss" too many "rent" payments, and the person who LOANED you the $200K at the beginning, will take it back.

If you handed your brother/cousin.uncle/sister/kid $20K for a car, you would expect to be paid back.. If they said "hey, I can't make the payments", you would want that car asap so you could sell it to someone who would pay you for it.

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