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Reply #42: And how is that any different from a person who has less to spend on [View All]

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pnwmom Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-02-11 12:05 AM
Response to Reply #38
42. And how is that any different from a person who has less to spend on
Edited on Wed Feb-02-11 12:06 AM by pnwmom
a family's other expenses because he bought a house and put some cash into a downpayment? If the market goes down, that person has lost his cash, just as much as the people who are underwater. Are you saying that no one should buy a house anymore? Or, at least, have any equity in one?

Why is it overpaying a bank to pay the amount that you agreed on in the first place? When you buy a house, shouldn't you be prepared for the fact that values can go up or down?
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