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re: Condo Finance Advice

Posted on 10/23/12 at 10:56 pm to
Posted by SlidellBammer
Member since Oct 2008
2380 posts
Posted on 10/23/12 at 10:56 pm to
i bought a condo in 07 and it's lost about 20% in value. it was my first "home" and times were good back then and i didn't have to put any cash down, as there were a ton of programs available for first time buyers...

the rate i got at the time was 6.3%... i could obviously save a killing with a refi, but i've run into the same FHA problem. And what's brutal is that Freddie Mac owns my current mortgage.. They just won't take it again...

i don't know what the hell to do.. just sucks.

only advice i would give anyone is to never ever ever buy a condo. i could write a dissertation on the problems i've had..
Posted by bryso
Member since Dec 2006
27130 posts
Posted on 10/24/12 at 12:21 am to
I agree to never buy one. It's a terrible idea. 90% of the time
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