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RE: New York's Decisions Have Financial Consequences

in LeoFinance • last year

That is exactly how it works. There is no victim in this case. The bank has to agree to the terms that is offered.

That is what O'Leary was saying. With real estate, one side says it is worth X and the other Y. Ultimately, the bank decides what it is willing to lend upon.

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         last year 

        so it makes sense that it didn't make sense :)

        i can see how that could affect New York but it is probably a good thing that this was a Tramp Bad thing and will probably not happen again. question is are people ready to risk it.

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