Originally posted by flyernzl
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Mortgages aren't linked to specific properties, though.
An example:
I know of an LTC with two properties and 8 mortgages.
The two properties have a combined value of about $700k.
The 8 mortgages add up to $900k.
Which mortgages would you use to calculate if each property is positive or negative cash flow?
When you take out another mortgage, the bank only checks if there is enough equity available to cover the mortgages.
At no stage is a mortgage ''locked in" to a property.
Can anyone see how Labour would be able to make this scheme work?
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