it is not lenders insurance,which is dead , lost money that only covers the bank sounds like they want him to come up with more equity in the new property...as in cash....or borrow less against the house or they are saying they will not lend him the amount he wants
you dont pay lenders insurance of $50,0000...unless you are on another planet
its a great trick, a ploy by the banks, if they dont want to lend to you
to revalue your other properties, and give a 100k lower valuation.... been there, done that...it is in no way a reflection of the market value of the other properties
it is simply another way of saying NO to the loan without actually saying NO to the borrower
