To: hunter112
Banks never want to repo a property. They want to be able to resell the mortgage on the secondary market, which they can't do in this case.
20 posted on
03/16/2005 12:12:52 PM PST by
CaptainK
To: CaptainK
Depends on how much down payment there is in it, and whether or not they think the market is headed up or down. Also, don't forget the possibility of mortgage insurance. It wouldn't surprise me if federal mortgage insurance was backing these loans!
21 posted on
03/16/2005 12:21:57 PM PST by
hunter112
(Total victory, both in the USA and the Middle East!)
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