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No-money-down mortgages are back


By ChrisKolmar   Follow   Fri, 1 Feb 2013, 5:03am PST   420 views   2 comments
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http://www.marketwatch.com/story/no-money-down-home-loans-are-back-2013-02-01?source=Patrick.net

Its 100% financingthe same strategy that pushed many homeowners into foreclosure during the housing bust. Banks say these loans are safer: Theyre almost exclusively being offered to clients with sizable assets, and they often require two forms of collateralthe house and a portion of the clients investment portfolio in lieu of a traditional cash down payment.

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jvolstad   Fri, 1 Feb 2013, 5:09am PST   Share   Quote   Permalink   Like   Dislike     Comment 1

20% down, 20% down, 20% down. If you want a house, you need 20% down.

epitaph   Fri, 1 Feb 2013, 5:46am PST   Share   Quote   Permalink   Like   Dislike     Comment 2

Anything less than 20% should be illegal.

I agree that borrowing cost is less than inflation, but stock is volatile, cash is not. Show me the money.

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