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[quote=Anonymous][quote=Anonymous][quote]Home Price $1,250,000 Mortage $1,000,000 Equity $250,000 Cost to Sell $57,500 Sale Price $1,150,000 Losses $(100,000) If you take the haircut now, you walk away with $150K in equity - and in your first year add $36,000 to that. Your 2nd year you do the same, and so on and so forth. Each year that grows by perhaps 6%. [/quote] I think this is off by $50K. If the mortgage is $1 mil and you sell for $1.15 mil and there's $57.5K of selling costs you'll have a shade under $100K rather than $150K, not sure if this is reflected in PP's graphs or not.[/quote] Actually the mortgage is $1,144,000. I think the cost to sell may be closer to 80,000. I'm hoping the sale price will be $1,250,000 or very close to it. So we probably will walk away with nothing and that is a big concern.[/quote]
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