Underwater Mortgage Dilemma
A listener from Nova Scotia grapples with an underwater mortgage, having purchased a rental property for $135,000, now valued at just $90,000. With a mortgage balance of $108,000, she faces the daunting prospect of owing $18,000 if she sells. The discussion highlights the harsh reality of declining property values and the impact on equity, illustrating how mortgage payments can feel like money down the drain when home values plummet.In this clip
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047R |The Rule of 72
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