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Real Estate
Reply to "if you bought with zero down during the boom..."
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[quote=Anonymous]We purchased a home in 2002 with $0 down, paid only closing costs. We had a 5 year ARM. We sold in 2005 and walked away with $170K in profit. We paid off all student loans and put 20% down on our current home, which we purchased for $420K in 2005. We have a 30 year fixed on that one, recently refinanced with a low rate. When we refinanced last summer, the appraised rate of the house was $370K. So we have taken a hit, but not as bad as some. If we hadn't put 20% down though, that would be even more painful. [/quote]
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