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I am not bitter for buying my first home in 2023. Like, I gave the sellers a life time savings on top of what they bought it for 15 years ago. Also they did alm
by rightbyte 2y ago
I am not bitter for buying my first home in 2023. Like, I gave the sellers a life time savings on top of what they bought it for 15 years ago. Also they did almost no maintenance. I am not bitter.
- WarOnPrivacy 2y agoOoof. I acquired my 2nd home in 03 at reasonable price. I lost it after insurance increases doubled my monthly payment. We weren't at high risk but had to pay for the people that were. Kind of like how car insurance is now.
- rightbyte 2y agoThat sounds insane. Does the bank demand the loan repaid if you pay no insurance or how does that work?
- WarOnPrivacy 2y ago> Does the bank demand the loan repaid if you pay no insurance or how does that work? They can demand the difference between the loan amount and what the house was disposed-of for. They can come after that money some years later. Some banks do, some don't. I was concerned for 7 years but they never pursued it. note: I worked bankruptcy cases for a couple of years. My own credit union was notorious for relentlessly perusing every possible loan. They gave great terms but know you are going to pay it off.