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May 29, 2005
100% Financed
Those who fail to learn history are bound to re-live it:
The ones who are really screwed in this scenario are the young homeowners who have gotten themselves locked into "interest only" mortgages. I know a good number of otherwise intelligent people who have these loans, and they are ALL banking on their house's value continuing to rise at 10-15% per year. And when I ask them about their plans if housing prices don't rise so fast (or, god forbid, fall), they just look at me like I'm insane.
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Posted on May 29, 2005 05:23 AM by House 78.
Filed in Mortgage Calculator under housing prices.
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