Is Time Running Out For Low-Doc Investors?

Posted by on November 20th, 2008 at 02:15am

Double Blind wrote an interesting post today on
Here’s a quick excerpt
Time may be running out for investors who use Low-Doc loans. From 1st December, many investors wanting to refinance an investment property with a low-doc loan will face a major challenge. Australia’s leading mortgage insurer, Genworth Financial, has announced that from 1st December, it will no longer insure low doc investment loans which are being refinanced. And, the banks don’t usually like to lend more than 60% of the property value without mortgage insurance. That means that the banks

Read the rest of this great post here

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