2026 TeoTwawKi ... 2032 Darkest Interregnum Message Board

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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 416.72

+1.2%

Dec 26 4:00 PM EST

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To: TobagoJack who wrote (155625)	3/31/2020 9:04:21 AM
From: Lazarus	Read Replies (1) of 218715

*re: <<<in HK, mortgages at max 50% of transaction value these days,* >>>** wow! in US we would not have a real estate market for the working class if that were the case. we required very little "skin in the game", no recourse, and another thing to mention. When buying the house with min down, if economy goes to hell in a handbag not only do you not have to worry about no recourse but the foreclosure process takes a min of 6 mos and have seen situations where it took two plus years for banks to act -- so if you stay in your home for, say a year, and make no payments you would recoup all your down payment an then some. All the risk on the bank -- however must note that with only 3.5% down one must pay a premium for private mortgage insurance (PMI). So ~ 20% of the risk is insured against lost - as lender hopes to sell home for 80% LTV (which may or may not happen -- did not happen in housing crisis of 2008-2012)

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