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To: yard_man who wrote (243627)6/3/2003 9:30:02 AM
From: Bid Buster  Respond to of 436258
 
I never gave thought to how they book the valuation as the mortgage gets paid down...But its all moot since they own it untill you pay it off.



To: yard_man who wrote (243627)6/3/2003 11:11:33 AM
From: GraceZ  Read Replies (1) | Respond to of 436258
 
Houses are always bought for cash even when you have a loan (someone's cash). The house is on the asset side, while the debt resides on the liability side. The debt will be paid off when they refi you, so they count the house 100% against the NEW debt. Not the one that will disappear.


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