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Old 12-02-2008, 01:29 PM
AGDee AGDee is offline
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Join Date: Aug 2003
Location: Michigan
Posts: 15,823
Yes, you do lose what you've paid in so far but if you owe $250,000 on a house that's now worth $175,000 (because it was at $300,000 when you bought it two years ago) and you are out of a job and can't pay the mortgage, you're pretty much out of luck anyway. What options do you have?
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