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A comment on Middle class homebuyers taking $7k mortgages planning to later refinance down. Parent comment
People were doing ARMs, and interest only loans betting on appreciation & them being able to refinance or selling for profit
When that option dried up there was no path to success
Those that bought at a bad time but were able to pay still kept their homes and have recovered now
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People were doing ARMs, and interest only loans betting on appreciation & them being able to refinance or selling for profit
When that option dried up there was no path to success
Those that bought at a bad time but were able to pay still kept their homes and have recovered now