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枫下家园 / 住房话题 /
tor
if anyone knows of the depreciation of the house which will affect your future mortgage?ie. if your house's market price drops dramatically, the bank will take back your property unless you like to pay the price difference etc. Thanks,
-happymm(happymm);
2003-4-14
{148}
(#1139461@0)
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the possible depreciation of your property is a sort of risk the bank should bear for their loan business. that's why banks require 25% downpayment without insurance.the underlying reason is they thought a price will unlikely drop more than 25% in a mature market in short run. so you just pay installment which is defined by how much you borrowed, not by how much your equity worth
-wise(不通啊不通);
2003-4-14
{216}
(#1139619@0)
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Thanks for the reply.I remember I read an article before at Rolia regarding this topic.The author said the most of the houses sold by the court is not because the owner can not afford the mortgage, but the house price has been depreciated too much? is that true?
-happymm(happymm);
2003-4-14
{175}
(#1140902@0)