Mortgage reserve requirements

[tigger37708]

Originally Posted by Jambo2012

Sincere thanks to those who have offered constructive responses, but a wise friend once told me that as soon as you engage in an argument with someone online (and I imagine he had in mind someone who is baselessly suggesting that you are engaging in mortgage fraud), you've already lost deep down in your soul where your self-respect resides... so with that, farewell, I'm out.

You are very perceptive.
I was alluding to Mortgage fraud.

[Mr. Zero]

I don't know the OP, but I can think of a few legitimate reasons why someone could have high income but low reserves due to a situation that may no longer apply: divorce settlement, medical expenses, bad investments, victim of fraud etc.

Life is tough sometimes.

[tigger37708]

Originally Posted by Mr. Zero

I don't know the OP, but I can think of a few legitimate reasons why someone could have high income but low reserves due to a situation that may no longer apply: divorce settlement, medical expenses, bad investments, victim of fraud etc.

Life is tough sometimes.

Ha Ha yes perfect example of First World Problems.
I make $350K a year and want to buy a million dollar home, but need to borrow half of my down payment because the leather seats in my plane were all worn out and needed replacing and my vacation home was damaged in a storm.
Life can indeed be tough.