DISQUS

Toby · 1 year ago

Nothing wrong with seconds. It's the LTV that matters!
morganb · 1 year ago

But in a declining (free-fall) market like CA or FL it's tough to know what
your "true" LTV is...
Hezekiah King · 1 year ago

READ BETWEEN THE LINES

If banks are cutting off seconds NOW, it means they see significant, rapid and continued devaluation of real estate assets into the future (housing will continue to tank). After all, cutting off new seconds will do nothing to help with existing seconds that have essentially become unsecured loans.
morganb · 1 year ago

Well said Hezekiah and I agree 100%.
Morgan