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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?


To: loantech who wrote (14016)5/16/2004 2:43:08 PM
From: Haim R. Branisteanu  Read Replies (1) | Respond to of 110194
 
my understanding is the same, but the question is loan to value - what happens if the value of your home goes down? At commercial banks those loans are classified as non - conforming and the bank must dispose of them within 5 year from what I recall.

In a reverse mortgage what happen if the L to V goes above let say 100% the lender can not take possession of the home - that is my understanding

the basic question is are those loans - non recourse to the home owner ?