Hi,
I'm a newbie who is contemplating to get started with property investment and have been an avid reader of this forum for few months. Would like to hear from experts on the below scenario
Say, if I take $50K equity from existing PPOR and then prices crash by 10%-15% a year later, will the bank come bank to me asking to repay $50K borrowed? Or do I need to pay ($50K + depreciated value) ?
Apologies in advance if the question looks too stupid/dumb.
I'm a newbie who is contemplating to get started with property investment and have been an avid reader of this forum for few months. Would like to hear from experts on the below scenario
Say, if I take $50K equity from existing PPOR and then prices crash by 10%-15% a year later, will the bank come bank to me asking to repay $50K borrowed? Or do I need to pay ($50K + depreciated value) ?
Apologies in advance if the question looks too stupid/dumb.