04-29-2009, 06:33 PM | #2 | |
AMA Supersport
Join Date: Feb 2009
Posts: 4,756
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Quote:
I don't know about your area but the neighborhoods around here holding value well are down 20-25%. Neighborhoods that aren't are down 50% or more. It seems neighborhoods that built most of their homes during the boom (05-06) are the most heavily affected. Regardless of the drop, if the equity they have left in their houses after the refi are below 20% of the appraised value they will have to pay PMI. |
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