Might as well get your loan through Countrywide and don’t forget to buy their stock at current $20 a share. It’s an investment right and you wouldn’t want to have to take the time to wait until it is $10 or less shortly. (cynical smile)
In reality you do what you have to do but you might as well hedge by shorting the HBs and Banks to get your money back when this is all over. Also, don’t forget the fact that with 100% LTV if the price on the condo declines enough to make the bank twitch they can call the mortgage in and you will have to pay all of it. That won’t make the wife too happy. For when the financial times may get rough in your new place you can listen to this little ditty to keep your spirits up…
