Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (118703)	8/29/2001 12:44:03 PM
From: Lucretius	Read Replies (1) \| Respond to of 436258

SI is soooooo dead...

To: Les H who wrote (118703)	8/29/2001 1:23:47 PM
From: Ken98	Read Replies (1) \| Respond to of 436258

Les, one of the little noticed features of the Texas home equity law enacted a couple of years ago (home equity loans were illegal in Texas until 3 years ago) was that home equity loans are NON-RECOURSE to the borrower. The lender's only remedy is to foreclose on the house and they cannot sue the borrower for any deficiency. The other interesting feature is that the home equity lender must go through a quasi-judicial foreclosure that is somewhat more complicated that the non-judicial foreclosure system for purchase money mortgages. The lenders making these loans must have found Eminem's Purple Pill Box. <g>