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Gold/Mining/Energy : Gold Price Monitor
GDXJ 147.42+2.2%Jan 27 4:00 PM EST
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To: Rarebird who wrote (56730)7/27/2000 3:43:52 PM
From: long-gone  Read Replies (1) of 116927
 
I'll bet there is trouble this very day:
THE STREET IS PITCHING mortgages in which borrowers open investment accounts with stocks held as collateral for the home instead of a down payment. Imagine: You pay nothing down on your house while the money you would have spent rides up and down with the latest dot-com or your favorite blue chip.
If you think such mortgages sound dicey, you’re not alone. Like margin accounts, which allow investors to buy stock using borrowed money, these accounts may require cash infusions if they fall below a certain value. “There’s a reason we’re not all on margin all our lives,” says Mary A. Malgoire, a financial adviser with Family Firm Inc. in Bethesda, Md. “It’s a risky proposition and an emotionally draining one.”
Putting your down payment into an investment account means “betting the farm — literally,” adds Peggy Ruhlin of Budros & Ruhlin Inc., a Columbus, Ohio, financial-planning and investment-management firm.
Although these mortgages have (cont)
msnbc.com
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