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Hi,
That is so outrageouslyu stupid-----. During the recession starting 2008---I lost my house job everything. In 2012 I bought another house----it already has an equity of $125000 in it---I have a similar job---I am back on my feet----.
When my house foreclosed---I could have stayed in it legally for 1 1/2 years without paying any mortgage or rent----. If I would have hired an attorney---I could live there for another year before it foreclosed.
So---where can you live in a mansion for 2 1/2 years without paying mortgage----where can you buy another house with no money down after going thru a foreclosure!!! Nowhere.
How about Japan----the recession of early 90's stiull haunts them---they have yet to recover from it---.
Until the next crisis will brake your feet again. You will work work and work and at the end you will have a unsecure pension. A wasted life, while others owning huge chunk of Gold and Land and building up family dynasties.
where can you buy another house with no money down after going thru a foreclosure!!!