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| quote: | Originally posted by Lebezniatnikov
Yeah, he basically broke even. Say he spends $75,000 on the Porsche, sells the free on on eBay for $70,000... he's still down $5000, but he can pay back up to $70,000 on the mortgage and has a Porsche to show for it. I'd say they both win at life. |
Ok so $70,000 worth of second mortgage is paid off...what about the remaining $300,000+? Am I not understanding what a mortgage is or what?
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