Not if I understand the phrase correctly. The house may be valued more than what is remaining on your loan, but you’ve spent a lot of money closing the house. So if you sold before the 13 years you would be able to pay off your loan but you would have lost money.
Moneo@lemmy.world 11 months ago
Not if I understand the phrase correctly. The house may be valued more than what is remaining on your loan, but you’ve spent a lot of money closing the house. So if you sold before the 13 years you would be able to pay off your loan but you would have lost money.
Poem_for_your_sprog@lemmy.world 10 months ago
Gotchya, so if they had 0% or low down payment they would be upside down for 10+ years.