Question by Florida Resident: Our property is ,000 underwater. Should I foreclose on my ARM mortgage?
My wife and I purchased a 20-year old home in 2005 just before the real estate bubble burst in Florida. At the time, based on practically everyone's advice, it seemed like a sensible idea to take out a 2-year adjustable rate mortgage, invest a bit into increasing the property's sagging resale value and sell the home in a couple of years.
Everyone knows what happened then.
The property
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