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Real Estate
Reply to "Buying again after short sale"
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[quote=Anonymous][quote=Anonymous]OP here again. They're offering me a 10 year ARM, so fixed rate for 10 years. We can refinance to a conventional fixed rate, 30 year loan in 8 months, so even a 1 or 3 year ARM would work well for us. And for those who think I gamed the system, you have no idea what our situation was. The short sale was due to a job transfer. We held on to the property (paying about $5K mortgage plus $2500 rent in DC) for 3 years with ZERO offers. At some point we had to start thinking about our own financial future and our childrens' and disregard the bank, other homeowners, etc. It was crazy to throw $5K down the drain each month, knowing that we would never be returning to the property and it would take years to recover its value (if ever). [/quote] You are rationalizing. I am frankly a little shocked another bank would take a chance on you.[/quote]
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