If it wasn’t for the LTV thing kicking in, it would be a great gamble for someone. Hell – save your housing money for 10 years and walk away to Belize or something like that.
And – wouldn’t it be a great situation if the dollar got drastically devalued at some point? (Of course – a fixed mortgage is really good under that situation, too, right?)
If you could just somehow get that deal in a low-property tax region to boot, you would really be set.
