Quote:
Originally Posted by muthisdev
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.
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I saw a commercial on TV the other day advertising 97% LTV mortgages. It's coming.