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this post was submitted on 02 Nov 2023
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A Boring Dystopia
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So it takes 13 years to get out from being upside down on the loan? Yikes
Not if I understand the phrase correctly. The house may be valued more than what is remaining on your loan, but you've spent a lot of money closing the house. So if you sold before the 13 years you would be able to pay off your loan but you would have lost money.