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Re: O/T can it be done
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Posted by Rick Kr on January 11, 2007 at 12:28:33 from (198.208.159.17):
In Reply to: O/T can it be done posted by old on January 11, 2007 at 10:21:26:
Old, In short I would say no. Most banks will only loan up to 80% of value. You can get 100% or even 125% value of your home but you are looking at a non-conventional loan and the interest rates go up accordingly. For example, right now 30 year traditional loans are about 6.5%, the most aggressive money market accounts (constant income) are only about 4.5%. As stated below most banks loan you money at an interest way higher than what they will pay you to "borrow" your money. Thats kinda the short answer. I am not sure how you could go about that. Banks are not in the business of losing money. Rick
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