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Real Estate
Reply to "Buying again after short sale"
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[quote=Anonymous][quote=Anonymous]Why would I not get a 10 year ARM, knowing that I can easily pay off the mortgage within 10 years?[/quote] There is no guarantee you can pay off the house in 10 years. Didn't you say a move is what got you into this position? What if there is another move and you are stuck with a house you don't want to waste money paying for? Sure the market is strong in this area (although I'm not sure you have said where you would buy), but there could be another drop in the market. Or, one of you could lose your job, or decide it is no longer a job you wish to have. How much money are you going to spend? If you say $500,000 with 20% down that is one thing, but if you are looking to spend $1.5 million, then I don't think you are being very wise.[/quote]
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