• CableMonster@lemmy.ml
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    8 months ago

    So if you list your house for more than its worth on zillow is that fraud? Who is harmed by claiming you house is worht 600% more (which he didnt actually do but is perfectly fine)?

    • Tar_Alcaran@sh.itjust.works
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      8 months ago

      Obviously, a loan provider is harmed. Interest rates are calculated based on the radio of debt to assets. If you put a 10k mortgage on a 500k asset, you’re paying far less interest than if you take a 450k mortgage on the same.

      That’s such a basic question, anyone who is into real estate shouldn’t have to ask this.