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Technically, you could rerush, but you might not get a bid if other fraternities look at you as "damaged goods" - whether you initated or not.
However, if you still would like to be a member of the original fraternity, and it kind of sounds like you would, I would talk to the advisor or an alum who has an advisory role about this formal fund paying for the house business. That doesn't sound right.
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It is all 33girl's fault. ~DrPhil
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