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Pastimes : The Big Picture - Economics and Investing
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To: Sid Turtlman who wrote (616)2/1/1999 9:48:00 PM
From: TimbaBear  Read Replies (1) of 686
 
Loans are too high relative to value.....It might be cured by housing price inflation, but here on the west coast of Florida, there is not much inflation of housing prices happening and it's been that way since the late 80's....yes, high debt ratio is very often the motivating factor that causes the refinancing inquiry.....however, if new payment would lower total monthly outgo, and credit history is good, underwriters will generally go along with a refi.....This type of borrower often runs up the debt again in other areas.....living on the edge....good folks, just no cushion for the unforeseen
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