I guess my question is this. I happen to own a lake home in the brainerd lakes area of minnesota. On my recent re-fi with amc (12/30/05) i was told my home was worth 600,000.00. After work completely went to crap this summer i tried to re-fi again. Wow i found out 12 months later that my house was only worth about 525,000.00. O.K. Big surprise and problem. My house payments are way out of hand, work is slower than i have ever seen it, and i'm way upside down in my house. So back to my question. How does amc make any money on foreclosing on my house?
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