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<blockquote data-quote="1982vett" data-source="post: 1787028" data-attributes="member: 7795"><p>Yeah, 1982 I bought my first home (14% mortgage). Within 3 years it had lost 35% of it's value but I had already had it paid off. Called it the price of independence....1990 I "recouped" some of that by purchasing another home that was in RTC foreclosure ($63k for $41k 7% mortgage). Lost my job the same week I won the bid on the house. Recalled the loan application and borrowed the rest of the money I needed from my parents. Paid it off in 4 years. Rent from the first home help pay for the second. Last year those 2 properties market value was over $300,000.</p></blockquote><p></p>
[QUOTE="1982vett, post: 1787028, member: 7795"] Yeah, 1982 I bought my first home (14% mortgage). Within 3 years it had lost 35% of it's value but I had already had it paid off. Called it the price of independence....1990 I "recouped" some of that by purchasing another home that was in RTC foreclosure ($63k for $41k 7% mortgage). Lost my job the same week I won the bid on the house. Recalled the loan application and borrowed the rest of the money I needed from my parents. Paid it off in 4 years. Rent from the first home help pay for the second. Last year those 2 properties market value was over $300,000. [/QUOTE]
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