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Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) |
Sheepshank (1000+ posts) Send PM | Profile | Ignore | Fri Oct-01-10 07:50 PM Original message |
Mortgage loans at 110% of the value of the home? |
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dionysus (1000+ posts) Send PM | Profile | Ignore | Fri Oct-01-10 07:55 PM Response to Original message |
1. i don't think it's uncommon. it's sometimes done during refinance as a way to consolidate debt. |
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jtuck004 (1000+ posts) Send PM | Profile | Ignore | Fri Oct-01-10 07:56 PM Response to Original message |
2. It is one of the problems and it is still allowed. n/t |
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Kurt_and_Hunter (1000+ posts) Send PM | Profile | Ignore | Fri Oct-01-10 07:59 PM Response to Original message |
3. If the money is used for improvements it is self collateralizing, and is fine |
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itsrobert (1000+ posts) Send PM | Profile | Ignore | Fri Oct-01-10 08:02 PM Response to Original message |
4. If it's a fixer upper and you put the 10 percent into the home |
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Xithras (1000+ posts) Send PM | Profile | Ignore | Fri Oct-01-10 08:10 PM Response to Original message |
5. The problem was those "zero down" 110% loans. |
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FBaggins (1000+ posts) Send PM | Profile | Ignore | Fri Oct-01-10 08:55 PM Response to Original message |
6. It doesn't have to be a bad thing. |
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