@Anonymous wrote:
Short answer is yes u should be able to take out 80% loan to value.. So u should be able to take out 120k. Pretty sure ur credit can do it since u got construction loan.. Just depend on income and debt. This is also reason why so many ppl lost their house. Ppl that got into bad loans (no u can not afford an 800k mortgage on a 4500 a month income and ppl think they were able to)
@Anonymous wrote:
i have a 12 month construction loan and my home will be complete in march .when i get my mortage loan is it possible to get a cash back mortgage? my loan will be for 220000 but with my land house appraises 374000 cant find anything on this thought maybe someone on here might know....thanks
That is quite a general statement and is based on some truth but was hardly the full story. I walked away from my house and it had nothing to do with having taken a bad mortgage that I could not afford. It had everything to do with the Wall Street fraudsters and their securities scams that brought the house of cards [mortgage industry] down. Your statement has nothing to do with the OP's question. Why the judgement statement then?
