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It’s really easy to get a mortgage for 20% of a property and assign it to a corporation. In fact most banks will go as high as 80%, especially if the house can
by _3u10 4y ago
It’s really easy to get a mortgage for 20% of a property and assign it to a corporation.
In fact most banks will go as high as 80%, especially if the house can rent for the mortgage payment.
And they will definitely do that deal if you’re willing to pay 10% interest.
- guiriduro 4y agoTrue, but the difference is all about what happens when you can't pay the 10% interest or get into significant negative equity. If you can just walk away, then you have "rich person accounting."
- lmm 4y agoMortgage loans are non-recourse in several states. A lot of people can and should just walk away from their mortgage.