Comments on: Chase Wholesale Eliminates 2nd Mortgages

By: Geek Heretic » Home Equity Credit Shutting Down

Geek Heretic » Home Equity Credit Shutting Down — Fri, 16 May 2008 21:28:55 +0000

[...] Blown Mortgage “First and foremost I would like to thank you for the business you have sent and I appreciate [...]

By: morganb

morganb — Fri, 16 May 2008 00:56:02 +0000

But in a declining (free-fall) market like CA or FL it's tough to know what
your “true” LTV is…

By: morganb

morganb — Fri, 16 May 2008 00:56:02 +0000

Well said Hezekiah and I agree 100%.
Morgan

By: Hezekiah King

Hezekiah King — Thu, 15 May 2008 19:36:39 +0000

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.

By: Toby

Toby — Thu, 15 May 2008 19:10:56 +0000

Nothing wrong with seconds. It's the LTV that matters!