patrick.net

  new post
register or log in

Patrick's 40 proposals »

10,751 registered users, 9 online now: Booger, just any guy, JZ, landtof, Patrick, PockyClipsNow, Rashomon, rpanic01, Tenpoundbass

No-money-down mortgages are back

By ChrisKolmar   2013 Feb 1, 5:03am   ↑ like   ↓ dislike   749 views   2 comments   watch (0)   share   quote  

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.

#housing

Comments 1-2 of 2     Last »

1   jvolstad (26/26 = 100% civil)   2013 Feb 1, 5:09am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

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

2   epitaph (1/1 = 100% civil)   2013 Feb 1, 5:46am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

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.

Comments 1-2 of 2     Last »

Watch comments by email

home   top   users   about   contact  
#investing   #housing   #politics   #humor  
housing crash   thunderdome   sexy pix   site suggestions  
best comments   ad hominem comment jail   patrick.net on twitter   random post  
please recommend patrick.net to your in-laws