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Real Estate
The Real Estate Adviser |
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April 17, 2003
Foreclosures reach record level in 2002
By TOM KELLY
The Real Estate Advisor
The Real Estate Advisor
It used to be that lower interest rates, coupled with consistent appreciation, floated all boats.
Rising home values not only covered possible mistakes in the buyer’s original purchase price but also provided additional equity to pay bills not even associated with the home’s principal, interest, taxes and insurance. Sliding interest rates (now bouncing near 40-year lows) became the tools to access the attractive pot of equity.
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