You need to know in the massi memo because information is power. And the property man has got you covered. [ woman vocalizing ] thanks for joining me. Im bob massi. I got an email from a woman with a fascinating story of how she navigated her way through the mortgage meltdown and financial crisis. But shes now got a dilemma and wants to know what her options are. Now, loris a single working mom living here in arizona. She bought her home in 2006, right at the peak of the market. 80 percent of the home was financed with an interestonly loan and a second mortgage covering the remaining 20 percent. And i did that because i was one of the people that felt that real estate is an investment. And i wanted to use the equity to make more in the market. Remember, folks, that was 2006, a long time ago. Property values had been skyrocketing. And lori bet on that continuing, like many of us as americans. She thought that after a year or two, the house would have more equity and she could refinance
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The Surf Lodge owner discusses her career, from working in New York City nightclubs to renovating a Montauk motel and opening the popular Hamptons hangout.
The Surf Lodge owner discusses her career, from working in New York City nightclubs to renovating a Montauk motel and opening the popular Hamptons hangout.