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TV Real Estate Student – Bubble Burst

Her 29-year-old daughter, a graduate student with an annual income of less than $20,000, qualified for a mortgage of $600,000 with no money down, split into two different loans at 8.75 percent and 12.5 percent interest rates. With income from tenants . . . Beatty’s daughter thought she could afford monthly payments of nearly $5000.
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