Quote:
Originally Posted by
JasPR 
Koi, especially high end koi, are very often purchased by home equity loans. And this is one of the 'free money' areas that was created over the past four years. The feds are investigating many institutions that were leaning on apprasiers to over value homes for home equity loan purposes. This will be the next scandal as so many took that money out of the line of credit and spent it and now do not have the necessary equity in their homes to refinance ( 20% equity ownership is what most institutions will return to and remember most homes are only worth 80% of what they were worth at the top). So expect this credit source to tighten up in 2008-09. JR