GREY:ALARF - Post by User
Post by
Ogopogo007on Jun 27, 2019 10:35pm
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Post# 29872411
Had a chat with an Alpine broker
Had a chat with an Alpine brokerThought I would check out the new partner. Got hold of a broker in BC. Rather interesting talking about a morgage...Alpine will lend ~ 70% of the appraised value of the house. 10 - 11% interest rate. Zero interest in how much money i made. perhaps targeting families that will live 3 - 5+ in a house, pay it off, buy another one. Elders are babysitters & everyone works.
soooo...ignoring administration costs, house value would have to drop 30% before Alpine is under water.....not a short bet i would want to make + pay the div while short.
don't overlook it's CDN taxpayers that are on the hook for CMHC shortfalls...NOT BANKS
Check out Garth over at greaterfool.ca for more on that