Re:If the Economy Is So Strong, Why Are Consumer Stocks Tank...
by lotsofpulp on Monday October 16, 2023 @04:55PM
(#37906505)
This is in the USA? I have never heard of anything like that.
The bank would just be tasked with handling the paperwork (underwriting) of ensuring it is a conforming loan by getting an appraisal done and verifying your income/assets so they can get paid by the US government (fannie mae/freddie mac/ginnie mae/etc).
Not to mention that a lender does not get a piece of the collateral's sale price, so why would they care what improved landscaping would do to the price of the home if and when a homeowner wants to sell it?
Your scenario only makes sense if the lender was also getting a piece of the equity.
The bank would just be tasked with handling the paperwork (underwriting) of ensuring it is a conforming loan by getting an appraisal done and verifying your income/assets so they can get paid by the US government (fannie mae/freddie mac/ginnie mae/etc).
Not to mention that a lender does not get a piece of the collateral's sale price, so why would they care what improved landscaping would do to the price of the home if and when a homeowner wants to sell it?
Your scenario only makes sense if the lender was also getting a piece of the equity.