View Single Post
Old 01-04-2018, 08:48 AM  
OneHungLo
So Fucking Banned
 
Industry Role:
Join Date: May 2001
Location: Your mom's front hole
Posts: 40,906
Quote:
Originally Posted by muthisdev View Post
You're assuming that you can rent a property out for what what the mortgage on it is.
It didn't work that way in 2008. Depending on the area, there were places where house values were 1/3rd of what they were in 2005. So you'd be taking a bath just by letting someone live there. I have friends with horror stories.

Question is if this sort of thing will happen again. My guess is yes. Especially if there's more deregulation.
I saw a commercial on TV the other day advertising 97% LTV mortgages. It's coming.
OneHungLo is offline   Share thread on Digg Share thread on Twitter Share thread on Reddit Share thread on Facebook Reply With Quote