buy and bail
Answers (1)
FIRST ANSWER
That's what you do when you buy a used boat!
No it is when you purchase a property with the intention of not paying on the note for the property you currenty own. The lenders have cracked down on this and most require you to have an equity possition in your current home with a recent appraisal to be able to get a loan on your second property.
It is also short for buy and bail out.
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