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From: dave@cylixd.UUCP (Dave Kirby)
Newsgroups: net.invest
Subject: Re: More borrowing for downpayment
Message-ID: <857@cylixd.UUCP>
Date: Mon, 17-Mar-86 14:00:25 EST
Article-I.D.: cylixd.857
Posted: Mon Mar 17 14:00:25 1986
Date-Received: Sat, 22-Mar-86 03:57:49 EST
Reply-To: dave@cylixd.UUCP (Dave Kirby)
Organization: RCA Cylix Communications , Memphis, TN
Lines: 21


In article <2c78c374.2a75@apollo.uucp> tbg@apollo.uucp (Tom Gross) writes:
>    My question is then will banks be satisfied that I have enough
>    at stake if I "take equity out of one property and into another"?
>    I realize that the people who process loan applications just
>    follow procedural rules and tend to be somewhat literal-minded
>    but does anyone have any actual experience doing this?

As long as your equity in your former property remains above 20%, I
don't see why anyone would object.

>
>    If it works, should I go on cable tv and offer to sell
>    cassettes of myself talking about it for $295???

Sure, even if it doesn't work.

Especially if it doesn't work. :-)

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Dave Kirby    ( ...!ihnp4!akgua!cylixd!dave)