01-23-2007, 03:19 PM
Apoc Wrote:Let's be clear about this. You will not lose money when you sell, you will have spent more at the end of the term than if you were renting. The only way you lose in the conventional sense is if your house depreciates.
No, I'm talking about losing money. As in, you have to come up with cash to get out and make the sale. I am also making a few assumptions - The market is flat, and your house gains very little (or no) equity, and you havent paid additional money into the mortgage, just the standard payments which are almost all interest for the first few years. Add in any repairs that have to be done to sell the house, realtor/closing fees, and you can see where you'd be upside down.