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Rent vs Buy in Cerritos : Real Estate Advice

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Sun Sep 16, 2012
My NC Homes Team answered:
This is a question you should ask your financial adviser. There are going to be negative ramification you'll have to deal with should you walk away from your mortgage. I don't know the Cerritos market well enough to comment on how it's doing, but my guess is that like most markets it will in fact rebound over the next few years and if you can afford to remain in the home it may behoove you to do so/ If you walk away it's going to be a long time before you'd be able to get another mortgage so you'd be forced to rent for many years.

Really sorry you find yourself in this position and hope that whatever you decide to do things work out.
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