DISQUS

Blown Mortgage: Chase Wholesale Eliminates 2nd Mortgages

  • 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