7. I'm not anticipating much decline in my home's value...
Edited on Thu Dec-06-07 01:06 PM by Blue_In_AK
I bought a foreclosed HUD house (or duplex, actually) back in 1990 for a quite reasonable price (we were at the end of a real estate crash here) and in the intervening years it has more than doubled in value. Even if the value declines significantly, I will still be far ahead. The irony is that I was forced to buy because my landlady at the time got foreclosed on. Having that eviction notice tacked to my door was one of the best things that ever happened to me.
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