Comments on: Possible Ways to Make Cash Down for a Mortgage Part 2 http://www.thefinancialblogger.com/possible-ways-to-make-cash-down-for-a-mortgage-part-2/ This is where your finance takes place Thu, 09 Feb 2012 14:46:06 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: The Financial Blogger http://www.thefinancialblogger.com/possible-ways-to-make-cash-down-for-a-mortgage-part-2/comment-page-1/#comment-3969 The Financial Blogger Fri, 21 Nov 2008 12:03:34 +0000 http://www.thefinancialblogger.com/?p=936#comment-3969 Hello Nelson, You will have to declare the debt. However, if you come today with $0 cash down and a $0 balance line of credit, chances are banks will tell you have no cash down. If you come 3 months later with a $15K cash down in a money market and a $15K balance on your line of credit, everybody will be happy ;-) Hello Nelson,

You will have to declare the debt. However, if you come today with $0 cash down and a $0 balance line of credit, chances are banks will tell you have no cash down. If you come 3 months later with a $15K cash down in a money market and a $15K balance on your line of credit, everybody will be happy ;-)

]]> By: Nelson http://www.thefinancialblogger.com/possible-ways-to-make-cash-down-for-a-mortgage-part-2/comment-page-1/#comment-3963 Nelson Fri, 21 Nov 2008 04:22:26 +0000 http://www.thefinancialblogger.com/?p=936#comment-3963 Interesting post, all great ideas except for the second one. Two things are wrong with it: 1) Not disclosing a debt is, technically, mortgage fraud. 2) There's no property for the LOC to be secured with. Therefore, it'll be on your credit report anyway. If the borrower has good credit, and they stay within their income ratios, the lender doesn't give two craps if the down payment is financed. Interesting post, all great ideas except for the second one. Two things are wrong with it:

1) Not disclosing a debt is, technically, mortgage fraud.

2) There’s no property for the LOC to be secured with. Therefore, it’ll be on your credit report anyway.

If the borrower has good credit, and they stay within their income ratios, the lender doesn’t give two craps if the down payment is financed.

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