In a few years, I believe hyper-inflation will "eat" your debt and that 30 years fix-rate mortgage will be paid off sooner than you think.

As Rob has said, the key is getting the second as close to whole as possible, but there are several things your relative can say and do which will strengthen their odds of receiving a waiver.

Assuming, again that you are building it for yourself for the long haul, the long term loans you can get these days are great and if my prediction of hyper inflation is right, you will also be able to pay it off sooner then later.Word of caution:Many people who build custom homes to serve them "for the rest of their life" find themselves in a trap after few years if circumstances force them to sell (Divorce, illness, death, financial hardship).

If the development is vacant or has had a lot of foreclosures, odds are the HOA isn't capitalized all that well.

Then when we get out of this mess you will be positioned to ride the inflation wave when it comes.

Historically, appreciation has almost exactly tracked inflation, except for major disruptions (great depression, easing of lendering after WWII, and the 2000's bubble).

The number one reason for divorce is money issues and friends become at odds for the same reason!

I have a feeling I'll be the one losing, Scott, oddly enough, I don't like going to the stadium to watch, I feel I miss too much commentary etc..

I would agree, Naperville is one of those areas where home prices were being inflated by the month.

it paid for them to inflate values, hence the crooks are barely hanging on now... what is nice about RE is that everything is stored for future reference and sooner or later all of the crooks will have to pay for their dirty deeds... you can run, but you cannot hide... forever!!!