Has anyone ever had any experience with cross collateralization in qualifying for higher LTV investor mortgages? Can you tell me about your experiences?
+ use both properties to qualify for loan by combining equity.
- both properties subject to foreclosure or trustee sale if you default on only one.
- probably have to take out first lender on first property.
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This is the Legal Forum and I think you'd get more response on Newbies or another of the forums.
+ use both properties to qualify for loan by combining equity.
- both properties subject to foreclosure or trustee sale if you default on only one.
- probably have to take out first lender on first property.