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re: Any mortgage brokers in here?
Posted on 10/7/12 at 8:50 pm to I Love Bama
Posted on 10/7/12 at 8:50 pm to I Love Bama
quote:
Why do the banks make you put a % down based on the buying price rather than what the house is worth? I was trying to help her buy it with no money down.
Bc selling price is what the house is worth. That is the market value, period.
2
Posted on 10/7/12 at 8:57 pm to MikeBRLA
quote:
Bc selling price is what the house is worth.
This.
Te appraised or market value doesn't mean anything once the house goes under contract or is sold.
Posted on 10/7/12 at 10:02 pm to MikeBRLA
quote:
Bc selling price is what the house is worth. That is the market value, period.
Not really answering my question but you're wrong.
A distressed sale is not indicative of market value.
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