[quote=patb][quote=FormerSanDiegan]That’s why I suggest they might not fund these unless the LTV of 75% or better, likely 70%.
That way the lender has at least some additional protection against a declining market.
Seems to me to be a reasonable risk at today’s price levels.[/quote]
this product is just expensive rent with a nasty termination fee.[/quote]
This is true for those of us without the funds to completely pay off the loan at any time.
However, for those who can, it is a cheap source of capital.
