Re: More borrowing for downpayment

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1 total messages Started by Dave Kirby Mon, 17 Mar 1986 19:00

#1131

Author: Dave Kirby
Date: Mon, 17 Mar 1986 19:00

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In article <2c78c374.2a75@apollo.uucp> tbg@apollo.uucp (Tom Gross) writes:
>    My question is then will banks be satisfied that I have enough
>    at stake if I "take equity out of one property and into another"?
>    I realize that the people who process loan applications just
>    follow procedural rules and tend to be somewhat literal-minded
>    but does anyone have any actual experience doing this?

As long as your equity in your former property remains above 20%, I
don't see why anyone would object.

>
>    If it works, should I go on cable tv and offer to sell
>    cassettes of myself talking about it for $295???

Sure, even if it doesn't work.

Especially if it doesn't work. :-)

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Dave Kirby    ( ...!ihnp4!akgua!cylixd!dave)

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