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> For years now homeowners have used HELOCs (Home Equity Line of Credit), to effectively 100% finance an additional home purchase by using the HELOC for the dow
by quickthrowman 4y ago
> For years now homeowners have used HELOCs (Home Equity Line of Credit), to effectively 100% finance an additional home purchase by using the HELOC for the downpayment, and a mortgage for the rest. Banks hate this, but it's legal.
Banks don’t care, they just sell the loan. If they cared, they wouldn’t write the loan! Cmon now.
- sbarre 4y agoI forget how pedantic HN can be.. You're the third comment to latch onto that one phrase in my overall comment, and it's not even that relevant to the topic being discussed. My fault, I really should have phrased that differently.